Inspire Medical Systems Q1 Loss Widens; But Lifts FY Revenue Outlook

(RTTNews) - Inspire Medical Systems Inc. (INSP) reported that its net loss for the first quarter of 2022 widened to $16.69 million or $0.61 per share from $16.22 million or $0.60 per share in the corresponding prior year period.

Revenue was $69.4 million, a 72% increase from $40.4 million in the corresponding period in the prior year.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.80 per share and revenues of $64.17 million for the quarter. Analysts' estimates typically exclude special items.

The company raised full year 2022 revenue guidance to a range of $336 million - $344 million, from the prior guidance of $318 million to $326 million. Wall Street analysts have a consensus revenue estimate of $325.09 million for fiscal year 2022.