---
schema_version: "secwatch.filing_event.v1"
accession: "0001609550-26-000012"
form_type: "8-K"
ticker: "INSP"
cik: "0001609550"
company_name: "Inspire Medical Systems, Inc."
filed_at: "2026-02-11T23:59:59+00:00"
generated_at: "2026-05-16T03:18:51.383704+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Inspire Q4 rev $269M (+12%), EPS $4.66; FY26 outlook lowered on coding change

## Summary
- Q4 revenue $269.1M (+12%); GAAP diluted EPS $4.66; adjusted EPS $1.65.
- Full year revenue $912M (+14%); operating cash flow $117M; share repurchases $175M.
- FY2026 revenue guidance revised to $950M-$1.0B (4-10% growth); adjusted EPS $1.85-$2.35.
- Inspire V procedure coding changed to CPT 64582 with -52 modifier, reducing physician fees; company disappointed.
- Board proposes declassification and removal of for-cause removal; effective upon shareholder approval at 2026 annual meeting.

## SEC filing metadata
- accession: 0001609550-26-000012
- form_type: 8-K
- ticker: INSP
- cik: 0001609550
- company_name: Inspire Medical Systems, Inc.
- filed_at: 2026-02-11T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 5.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1609550/000160955026000012/0001609550-26-000012-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1609550/000160955026000012/insp-20260205.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001609550-26-000012
- JSON: https://secwatch.observer/filing/0001609550-26-000012.json
- Plain text: https://secwatch.observer/filing/0001609550-26-000012.txt

## Source-grounded claims
- claim_id: 5d2f489624fef442d78709ad84c56f6f0600a2da
  claim: Inspire Medical Systems, Inc.: Proposal to declassify the Board of Directors and provide for annual election of directors following a phase-in period, subject to stockholder approval at the 2026 Annual Meeting.
  evidence_excerpt: The Company intends to put forth a proposal at the Company’s annual meeting of stockholders to be held in 2026 (the “2026 Annual Meeting”) to amend its Seventh Amended and Restated Certificate of Incorporation in order to declassify its Board of Directors (the “Board”) and provide for the annual election of directors following a phase-in period (the “Proposed Charter Amendment”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1609550/000160955026000012/0001609550-26-000012-index.htm
- claim_id: eaf52038a3c3af0fbfa651338371cbeb8c3dfa9b
  claim: Inspire Medical Systems, Inc.: Amended and Restated Bylaws approved by the Board, subject to and effective upon stockholder approval of the Proposed Charter Amendment, removing the provision that directors may be removed only for cause (effective 2026-02-05).
  evidence_excerpt: On February 5, 2026, the Board approved the Amended and Restated Bylaws of the Company (the “Amended Bylaws”), subject to and effective upon the approval of the Proposed Charter Amendment by the stockholders at the Company’s 2026 Annual Meeting.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1609550/000160955026000012/0001609550-26-000012-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.