By Investing.com — Shares of Inspire Medical Systems, Inc. (NYSE:INSP) fell 11% today, despite the company announcing preliminary results that exceeded analysts’ expectations for the fourth quarter of 2024. The company’s revenue for the quarter is anticipated to be between $239.5 million and $239.7 million, surpassing the consensus estimate of $232 million. However, the company’s full-year 2025 revenue guidance, ranging from $940 million to $955 million, closely aligns with the consensus of $950.7 million, which an analyst described as “an in-line guide was largely expected.”
Inspire Medical (TASE:PMCN)’s fourth quarter revenue represents a roughly 25% increase compared to the same quarter of the previous year, while the anticipated full-year 2024 revenue of $802.6 million to $802.8 million marks an approximate 28% increase over 2023. The company also reported the activation of 72 new centers in the U.S. and the creation of 12 new sales territories during the fourth quarter, expanding its reach in the medical community.
The company further announced a soft launch of the Inspire V neurostimulator with over 40 implants completed in Singapore and the U.S. and implemented a new organizational structure aimed at driving continued growth. This includes the appointment of Jason Kelly as the new Chief Manufacturing and Quality Officer, effective January 20, 2025. Kelly’s experience at Stryker Corporation (NYSE:SYK) is expected to bolster Inspire’s supply chain, quality assurance, and regulatory operations.
Additionally, Inspire announced several key leadership changes, including Carlton Weatherby stepping into the role of Chief Strategy and Growth Officer, Randy Ban transitioning to EVP of Patient Access and Therapy Development, Ivan Lubogo taking on the role of SVP of Strategic Sales, and Joe Sander being promoted to SVP of U.S. Sales. The company also noted the departure of Dr. Charisse Sparks, Chief Medical Officer, at the beginning of the year.
Despite the company’s organizational changes and anticipated revenue growth, the stock’s decline suggests that investors may have been looking for more aggressive guidance for the upcoming year.
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