Inspire Medical Systems, Inc.: Initiation Of Coverage – Surge in Sleep Center Investments Can Catalyze The Top-Line Growth?

Inspire Medical Systems, a manufacturer of devices for treating obstructive sleep apnea, recently reported their fourth quarter and full year 2023 financial results. The company delivered strong results, noting this was their first quarter with operating income and that they had completed the year on a high note. The company reported revenue of $192.5 million for the fourth quarter, a 40% increase from Q4 2020, and net income of $14.8 million, compared to $3.2 million in the prior year. For the full year 2023, revenue totaled $624.8 million, a 53% increase over 2022.