Inspire Medical Systems Q2 revenue falls 7.6% to $200.6 million; 2026 outlook raised
Inspire Medical Systems reported second-quarter 2026 revenue of $200.6 million, down 7.6% from $217.1 million a year earlier, mainly due to a U.S. decline tied to evolving coding and reimbursement, partly offset by International growth. The company swung to a diluted profit of $0.01 per share from a loss of $(0.12), and raised its full-year 2026 revenue outlook to $835 million to $875 million, while announcing Project Horizon, a restructuring plan with $20 million to $25 million of pre-tax charges, mostly non-cash.
Key points
- Q2 2026 revenue of $200.6 million versus $217.1 million in Q2 2025; U.S. revenue declined while International revenue grew.
- Diluted EPS of $0.01 versus $(0.12) a year earlier; adjusted diluted EPS of $0.14 versus $0.34.
- Full-year 2026 revenue outlook raised to $835 million to $875 million; adjusted operating margin expected at 4% to 6%.
- Project Horizon restructuring: $20 million to $25 million of pre-tax charges, with about $30 million of annualized growth investment capacity; most actions expected in Q3 and substantially complete by end of 2026.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:54 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 03, 2026.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.