Abstract

Inspire Medical Systems will report fourth-quarter results on February 11, 2026 Post Market; this preview synthesizes recent financial data, current-quarter forecasts, and the latest institutional commentary to highlight the key metrics and drivers investors should watch.

Market Forecast

The market currently anticipates Inspire Medical Systems to deliver fourth-quarter revenue of USD 265.67 million, with a year-over-year increase of 12.09%, an adjusted EPS of USD 0.88 with estimated year-over-year growth of 19.61%, and EBIT of USD 19.80 million with an estimated year-over-year growth of 2.80%. No explicit guidance was found in public filings for gross profit margin or net profit margin; however, last quarter’s gross profit margin was 85.85% and net profit margin was 4.42%, providing context for margin expectations. The main business appears to be growing in line with volume adoption and reimbursement tailwinds, sustaining double-digit revenue growth, with improving operating leverage helping EPS. The most promising segment is expected to continue expanding with favorable reimbursement and procedure growth, though segment-level revenue and year-over-year data were not disclosed.

Last Quarter Review

In the previous quarter, Inspire Medical Systems reported revenue of USD 224.50 million, a gross profit margin of 85.85%, GAAP net profit attributable to the parent company of USD 9.93 million, a net profit margin of 4.42%, and adjusted EPS of USD 0.34, with year-over-year adjusted EPS declining by 43.33% and revenue growing by 10.49%. A notable highlight was a decisive EBIT swing to USD 9.64 million versus negative consensus, indicating improved operating efficiency despite top-line seasonality. The company’s main business highlighted steady demand in its core therapy platform, with revenue growth of USD 224.50 million and year-over-year growth of 10.49%.

Current Quarter Outlook

Main business outlook

The core therapy platform remains the central revenue engine, supported by procedure growth, expanding provider coverage, and maturing commercial infrastructure. With the forecast calling for USD 265.67 million in revenue, the company is positioned for solid quarter-over-quarter acceleration in the seasonal Q4 period. Margin context from last quarter’s 85.85% gross profit margin suggests the product mix and pricing remain supportive, while EBIT is forecast at USD 19.80 million, indicating additional operating leverage from scale. Continued progress in access, awareness, and clinical adoption should sustain double-digit revenue growth, although marketing and sales investments can temper near-term margin expansion.

Most promising business drivers

The most promising growth driver is the expected increase in procedures tied to favorable reimbursement and expanding clinical indications, which several institutions flagged as supportive of forward growth. Although segment-level revenue breakdowns were not provided, the forecasted adjusted EPS of USD 0.88 reflects benefits from volume growth, improved utilization, and disciplined cost control. The incremental EBIT forecast growth of 2.80% year over year indicates measured profit expansion amidst continued growth investments. If the company’s access initiatives and reimbursement enhancements continue to translate into higher procedure throughput, the quarter’s operating metrics should track toward the upper end of growth expectations.

Key stock price impact factors

Investors will focus on whether revenue meets or exceeds the USD 265.67 million forecast and whether adjusted EPS trends toward USD 0.88, as these metrics anchor the near-term price reaction. Margin commentary will be closely watched, given last quarter’s 85.85% gross profit margin and 4.42% net profit margin; any improvement would suggest healthier unit economics and operating leverage. Management’s updates on reimbursement durability, procedure growth cadence, and capacity scaling could influence sentiment, with upside if growth is broad-based across centers and sustained by payer support, and downside if any bottlenecks or cost pressures are highlighted.

Analyst Opinions

Institutional views skew bullish based on recent ratings: Wells Fargo maintained a Buy with a USD 160.00 target, RBC Capital maintained a Buy, Stifel upgraded to Buy with a USD 110.00 target, and Morgan Stanley maintained a Buy with a USD 105.00 target; J.P. Morgan and Leerink Partners maintained Hold ratings. The ratio of bullish versus neutral/hold opinions over the period is predominantly bullish. Analysts point to reimbursement improvements, scaling commercial execution, and solid procedure growth as drivers supporting the forecasted USD 265.67 million revenue and USD 0.88 adjusted EPS. The bullish camp expects operating leverage to progress with volume expansion, supporting EBIT at USD 19.80 million and year-over-year EPS growth of 19.61%, while noting that clarity on margins and guidance could catalyze shares if management articulates sustained growth and efficiency.