NSPR · Inspiremd, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.40M | - | $2.52M | $1.78M | $1.53M | - | $1.81M | $1.74M | $1.51M | - |
| Cost of Revenue | $2.71M | - | $1.66M | $1.47M | $1.24M | - | $1.40M | $1.41M | $1.22M | - |
| Gross Profit | $687.0K | - | $864.0K | $313.0K | $292.0K | - | $414.0K | $331.0K | $292.0K | - |
| R&D | $4.76M | - | $3.63M | $3.83M | $4.06M | - | $3.92M | $3.40M | $2.63M | - |
| SG&A | $4.72M | - | $5.89M | $5.33M | $4.94M | - | $3.49M | $3.75M | $3.84M | - |
| Total Operating Expenses | $14.66M | - | $13.91M | $13.33M | $11.75M | - | $8.88M | $8.59M | $7.71M | - |
| D&A | $149.0K | - | - | - | $98.0K | - | - | - | $69.0K | - |
| Operating Income | ($13.98M) | - | ($13.05M) | ($13.02M) | ($11.46M) | - | ($8.46M) | ($8.26M) | ($7.41M) | - |
| Interest Expense | - | - | - | - | - | - | - | - | - | - |
| Income Tax | - | - | - | - | - | - | - | - | - | - |
| Net Income | ($13.69M) | - | ($12.71M) | ($13.15M) | ($11.17M) | - | ($7.89M) | ($7.91M) | ($7.03M) | - |
| EPS - Basic | ($0.16) | - | ($0.17) | ($0.26) | ($0.22) | - | ($0.16) | ($0.22) | ($0.21) | - |
| EPS - Diluted | ($0.16) | - | ($0.17) | ($0.26) | ($0.22) | - | ($0.16) | ($0.22) | ($0.21) | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $11.36M | $8.94M | $63.40M | $11.51M | $12.38M | $18.92M | $15.82M | $28.39M | $9.39M | $9.64M |
| Accounts Receivable | $2.38M | $2.17M | $1.96M | $1.59M | $1.58M | $1.57M | $1.53M | $1.31M | $1.19M | $1.80M |
| Inventory | $3.04M | $3.40M | $3.61M | $3.05M | $2.82M | $2.57M | $2.44M | $2.21M | $2.36M | $2.11M |
| Accounts Payable | $1.95M | $1.25M | $1.75M | $1.52M | $1.73M | $1.25M | $1.30M | $927.0K | $659.0K | $939.0K |
| Current Assets | $48.59M | $61.47M | $70.39M | $25.46M | $32.14M | $40.52M | $46.39M | $51.84M | $38.51M | $44.16M |
| Total Assets | $56.47M | $69.40M | $78.47M | $33.34M | $38.67M | $46.81M | $50.48M | $55.66M | $42.03M | $47.64M |
| Current Liabilities | $9.44M | $10.71M | $10.82M | $9.07M | $7.37M | $7.68M | $7.26M | $6.96M | $4.88M | $6.02M |
| Long-term Debt | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | $12.85M | $14.20M | $14.36M | $13.10M | $10.33M | $10.72M | $9.13M | $8.90M | $6.94M | $8.14M |
| Stockholders' Equity | $43.62M | $55.20M | $64.11M | $20.24M | $28.34M | $36.09M | $41.35M | $46.76M | $35.09M | $39.50M |
| Retained Earnings | ($315.98M) | ($302.29M) | ($290.53M) | ($277.82M) | ($264.67M) | ($253.51M) | ($244.33M) | ($236.44M) | ($228.53M) | ($221.50M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | ($12.34M) | - | - | - | ($8.79M) | - | - | - | ($5.06M) | - |
| Investing Cash Flow | $14.78M | - | - | - | $1.70M | - | - | - | $4.82M | - |
| Financing Cash Flow | - | - | - | - | $506.0K | - | - | - | - | - |
| CapEx | $194.0K | - | - | - | $359.0K | - | - | - | $195.0K | - |
| Free Cash Flow | ($12.53M) | - | - | - | ($9.15M) | - | - | - | ($5.26M) | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 20.2% | - | 34.2% | 17.6% | 19.1% | - | 22.9% | 19.0% | 19.3% | - |
| Operating margin | -411.4% | - | -517.3% | -732.2% | -749.5% | - | -467.5% | -475.0% | -490.7% | - |
| EBITDA margin | -407.0% | - | - | - | -743.1% | - | - | - | -486.1% | - |
| Net margin | -402.9% | - | -503.7% | -739.7% | -730.3% | - | -435.9% | -454.8% | -465.4% | - |
| Free cash flow margin | -368.8% | - | - | - | -598.5% | - | - | - | -348.0% | - |
| FCF / Net income | 0.92 | - | - | - | 0.82 | - | - | - | 0.75 | - |
| R&D / Revenue | 140.2% | - | 144.1% | 215.6% | 265.5% | - | 216.3% | 195.6% | 173.7% | - |
| SG&A / Revenue | 139.0% | - | 233.4% | 299.6% | 323.3% | - | 192.8% | 215.4% | 254.4% | - |
| Effective tax rate | - | - | - | - | - | - | - | - | - | - |
| Return on assets | -24.2% | - | -16.2% | -39.4% | -28.9% | - | -15.6% | -14.2% | -16.7% | - |
| Return on equity | -31.4% | - | -19.8% | -65.0% | -39.4% | - | -19.1% | -16.9% | -20.0% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 5.15 | 5.74 | 6.51 | 2.81 | 4.36 | 5.28 | 6.39 | 7.44 | 7.90 | 7.34 |
| Quick ratio | 4.82 | 5.42 | 6.17 | 2.47 | 3.98 | 4.94 | 6.05 | 7.13 | 7.41 | 6.99 |
| Cash ratio | 1.20 | 0.83 | 5.86 | 1.27 | 1.68 | 2.46 | 2.18 | 4.08 | 1.93 | 1.60 |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | - | - | - | - | - | - | - | - | - | - |
| Equity multiplier | 1.29 | 1.26 | 1.22 | 1.65 | 1.36 | 1.30 | 1.22 | 1.19 | 1.20 | 1.21 |
| Liabilities / Assets | 0.23 | 0.20 | 0.18 | 0.39 | 0.27 | 0.23 | 0.18 | 0.16 | 0.17 | 0.17 |
| Efficiency | ||||||||||
| Asset turnover | 0.06 | - | 0.03 | 0.05 | 0.04 | - | 0.04 | 0.03 | 0.04 | - |
| Inventory turnover | 0.89 | - | 0.46 | 0.48 | 0.44 | - | 0.57 | 0.64 | 0.52 | - |
| Days sales outstanding | 256d | - | 284d | 327d | 377d | - | 309d | 274d | 287d | - |
| Days inventory outstanding | 409d | - | 794d | 761d | 833d | - | 639d | 572d | 707d | - |
| Days payable outstanding | 263d | - | 386d | 378d | 510d | - | 341d | 240d | 197d | - |
| Cash conversion cycle | 401d | - | 692d | 710d | 700d | - | 607d | 606d | 796d | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | 3.1x | - | 2.8x | 5.7x | 4.7x | - | 3.1x | 1.9x | 2.3x | - |
| P / S | 40.2x | - | 70.2x | 65.1x | 88.0x | - | 71.6x | 51.6x | 53.7x | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 122.2% | - | 39.4% | 2.2% | 1.2% | - | 16.3% | 5.5% | 22.0% | - |
| Revenue CAGR (3y) | 40.0% | - | 20.8% | 5.1% | 8.9% | - | 19.1% | 18.8% | 14.5% | - |
| Revenue CAGR (5y) | 27.6% | - | 20.8% | 41.5% | 8.1% | - | 14.0% | 5.1% | 29.5% | - |
| Gross profit growth (YoY) | 135.3% | - | 108.7% | -5.4% | 0.0% | - | -5.5% | -32.6% | -21.7% | - |
| Operating income growth (YoY) | -22.0% | - | -54.2% | -57.6% | -54.6% | - | -50.1% | -55.4% | -69.2% | - |
| Net income growth (YoY) | -22.6% | - | -61.1% | -66.3% | -58.8% | - | -52.4% | -55.8% | -65.2% | - |
| EPS growth (YoY) | 27.3% | - | -6.3% | -18.2% | -4.8% | - | 72.4% | 8.3% | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | -36.9% | - | - | - | -74.0% | - | - | - | -8.3% | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 53.9% | 53.0% | 55.0% | -56.7% | -19.2% | -8.6% | -4.4% | -0.1% | 161.3% | 127.1% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Geographic
$8.98M totalOther Countries$4.06M · 45.2%
US$1.42M · 15.8%
DE$1.23M · 13.7%
IT$1.23M · 13.7%
PL$1.04M · 11.5%
Peer comparison
Same SIC group: Surgical & Medical Instruments & Apparatus
Comparing InspireMD against the 5 most active filers in the same SIC group.