{"schema_version":"secwatch.filing_event.v1","accession":"0001609550-26-000021","form_type":"8-K","ticker":"INSP","cik":"0001609550","company_name":"Inspire Medical Systems, Inc.","filed_at":"2026-05-04T23:59:59+00:00","discovered_at":"2026-05-14T18:02:32.587129+00:00","generated_at":"2026-05-14T23:54:51.974695+00:00","sec_items":["2.02","7.01","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"Inspire Medical Q1 revenue up 1.6% to $204.6M; guides FY2026 revenue down 4-10%","bullets":["GAAP diluted EPS $(0.39); adjusted diluted EPS $0.10; operating cash flow $12.8M.","Coding/reimbursement uncertainty for Inspire V and WISeR program disrupted Q1.","FY2026 revenue guidance revised to $825M-$875M (decline 4-10% vs 2025).","Adjusted operating margin guidance of 2%-4%; adjusted diluted EPS $0.75-$1.25.","Expects coding challenges to persist through 2026, with growth returning in 2027."],"urls":{"canonical":"https://secwatch.observer/filing/0001609550-26-000021","json":"https://secwatch.observer/filing/0001609550-26-000021.json","markdown":"https://secwatch.observer/filing/0001609550-26-000021.md","text":"https://secwatch.observer/filing/0001609550-26-000021.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1609550/000160955026000021/0001609550-26-000021-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1609550/000160955026000021/insp-20260504.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-14T23:54:51.974695+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"1d1c8800b345b896361a9fa48e0ae4e2cc2267bc","claim":"Inspire Medical Systems, Inc. reported Full Year 2026 results: revenue in the range of $825 million to $875 million, EPS diluted EPS in the range of $0.07 to $0.62 and adjusted diluted EPS in the range of $0.75 to $1.25. Guidance lowered.","evidence_excerpt":"The Company is revising its previously announced revenue outlook to be in the range of $825 million to $875 million, which represents a decline of 4% to 10% compared to 2025. Additionally, the Company now expects annual adjusted operating margin in the range of 2% to 4%, diluted EPS in the range of $0.07 to $0.62 and adjusted diluted EPS in the range of $0.75 to $1.25.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1609550/000160955026000021/0001609550-26-000021-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"Full Year 2026"},{"label":"Revenue","value":"in the range of $825 million to $875 million"},{"label":"EPS","value":"diluted EPS in the range of $0.07 to $0.62 and adjusted diluted EPS in the range of $0.75 to $1.25"},{"label":"Guidance","value":"lowered"},{"label":"Result","value":"guidance update"}]},{"claim_id":"fdd912490e575546b2f1c7f6ce53d8729b6721f8","claim":"Inspire Medical Systems, Inc. reported the quarter ended March 31, 2026 results: revenue $204.6 million, net income Net loss was $11.3 million, EPS Diluted EPS was $(0.39) and adjusted diluted EPS was $0.10.","evidence_excerpt":"Revenue increased 1.6% to $204.6 million, primarily driven by increased market penetration, offset by the adverse effects of reimbursement disruption and the Wasteful and Inappropriate Service Reduction (WISeR) program. • Gross margin increased 180 bps to 86.5%, primarily due to increased sales mix of the Inspire V system, which has a higher gross margin than the Inspire IV system. • Operating expenses increased $5.9 million, or 3.4%, to $178.0 million, primarily driven by higher marketing expenses, legal fees and employee-related costs, partially offset by lower R&D expenses. • Operating loss decreased $0.4 million to $1.1 million, and operating margin was (0.5)%. Adjusted operating income was $0.3 million, and adjusted operating margin was 0.2%. • Interest and dividend income decreased by $1.3 million, primarily due to lower average interest rates and lower average cash, cash equivalents, and investment balances. • The effective tax rate was 571.2% compared to 28.1%. The increase in","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1609550/000160955026000021/0001609550-26-000021-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the quarter ended March 31, 2026"},{"label":"Revenue","value":"$204.6 million"},{"label":"Net income","value":"Net loss was $11.3 million"},{"label":"EPS","value":"Diluted EPS was $(0.39) and adjusted diluted EPS was $0.10"},{"label":"Result","value":"reported results"}]}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}