InspireMD, Inc. (NSPR), the developer of the CGuard Prime carotid stent system, reported fourth-quarter and full-year 2025 financial results that showed solid revenue growth driven by expanding U.S. adoption and steady international demand. The company also highlighted progress across its clinical and regulatory programs as it works to broaden the use of its stroke-prevention technology.
For the fourth quarter of 2025, InspireMD generated revenue of $3.1 million, a 62% increase from $1.9 million in the same period of 2024.
Revenue also rose 25% sequentially from the third quarter, reflecting continued momentum following the U.S. launch of CGuard Prime. U.S. revenue for the fourth quarter was $0.9 million, up 74% from $0.5 million in the third quarter, marking the second quarter of the CGuard Prime launch, while international revenue grew 17% year over year to $2.3 million as demand strengthened across key markets.
Gross profit for the quarter improved to $1.2 million, compared with $0.5 million in Q4 2024, supported by a higher mix of U.S. sales, which carry stronger margins.
InspireMD reported a net loss of $11.8 million, or $0.14 per share for the quarter, compared with a net loss of $9.2 million, or $0.19 per share a year earlier.
For the full year 2025, total revenue rose to $9.0 million, up 28% from $7.0 million in 2024 U.S. revenue contributed $1.4 million for the year, reflecting the first two quarters of the CGuard Prime commercial rollout, while international revenue increased 8% to $7.6 million.
Gross profit for the year improved to $2.7 million from $1.5 million in 2024. The company reported a full-year net loss of $48.8 million, or $0.76 per share, compared with a net loss of $32.0 million, or $0.76 per share in the prior year.
InspireMD ended 2025 with $54.2 million in cash, cash equivalents and marketable securities, up from $34.6 million at the end of 2024, providing additional flexibility as it advances its commercial and clinical initiatives.
The company completed enrollment in its CGUARDIANS II pivotal trial and submitted a PMA supplement to the U.S. FDA seeking approval for the use of CGuard Prime in transcarotid artery revascularization (TCAR) procedures.
Looking ahead to 2026, InspireMD expects full-year revenue to range between $13 million and $15 million, representing anticipated growth of approximately 45% to 65% over 2025.
NSPR has traded between $1.51 and $2.94 over the past year. The stock closed Tuesday's trading at $1.79, up 9.82%. In the pre-market session, the stock is at $2.05, up 15%.
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