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Inspire Medical Systems (INSP) investor relations material
Inspire Medical Systems Wells Fargo 20th Annual Healthcare Conference 2025 summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Wells Fargo 20th Annual Healthcare Conference 2025 summary3 Sep, 2025
Inspire five transition and operational progress
Surgeon training for Inspire five has reached nearly 99%, with most accounts now ready for adoption.
Over 80% of contracts have been amended and executed, and about 65% of implanting sites have implemented the required SleepSync programmer.
Full transition to Inspire five is expected by year-end, with all implanting accounts able to purchase and use the new system.
Early adopting sites report higher throughput, increased volume, and strong outcomes with Inspire five.
Medicare coding issues have been resolved, removing a previous headwind to adoption.
Financial guidance, headwinds, and growth drivers
Guidance was reduced by 4.5% for the year, mainly due to slower Inspire five transition and patient warehousing, with some impact from inventory destocking.
Patient warehousing and destocking are expected to abate as Inspire five adoption completes, with some catch-up growth spilling into 2025 and 2026.
GLP-1 drugs are a near-term headwind as some patients delay procedures, but may become a long-term tailwind as more patients become eligible.
Direct-to-consumer marketing spend is increasing to support the Inspire five launch, with expectations for greater operating leverage over time.
Seasonality is expected, with higher volumes in Q4 due to patient insurance dynamics.
Competitive landscape and market opportunity
The first U.S. hypoglossal nerve stimulator competitor has launched; modest trialing impact is included in guidance, mainly at academic centers.
Inspire five is positioned as superior in safety, efficiency, and adherence compared to new competitors, with lower adverse event and dropout rates.
The total addressable market is considered large and growing, driven by increased OSA awareness, new technologies, and underpenetration.
Ongoing research includes a dual-channel device to address lateral wall collapse, aiming to expand treatable patient populations.
Coding and reimbursement for competitors remain uncertain, with confidence that current codes best match Inspire five's technology.
Quantify Inspire V destocking and patient warehousing
Net impact of GLP-1s on patient funnel?
Nyxoah's coding strategy impact on market?
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Next Inspire Medical Systems earnings date
Q3 20253 Nov, 2025
Next Inspire Medical Systems earnings date
Q3 20253 Nov, 2025
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Frequently asked questions
Inspire Medical Systems, Inc., a medical technology company, focuses on the development and commercialization of minimally invasive solutions for patients with obstructive sleep apnea (OSA) in the United States and internationally. OSA is a prevalent most chronic condition that causes your throat to periodically collapse during sleep.
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