InspireMD, Inc.
- Open
- 0.72
- Day high
- 0.72
- Day low
- 0.68
- Prev close
- 0.70
- Volume
- 14K
- Mkt cap
- $32M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 0.7
- P/S
- 2.9
- Yield
- —
- Per share
- —
- ▲Insiders net buying $176K over the last 3 months (11 open-market buys, 14 sales)
- ◆Cluster buying — multiple insiders bought within days
- 🏛Institutions reducing (13F)
InspireMD, Inc. (NSPR) is a Healthcare company listed on NASDAQ. The stock is down 69% over the past year. Over the trailing 3 months, insiders filed 11 open-market buys and 14 sales (SEC Form 4).
InspireMD, Inc. (NSPR) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
NSPR earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 4, 2026 | $-0.19 | $-0.16 | +15.8% | $3M | +25.8% |
| Mar 18, 2026 | $-0.19 | $-0.14 | +27.6% | $3M | +32.5% |
| May 9, 2025 | $-0.17 | $-0.22 | -29.4% | $2M | +1.9% |
| Mar 12, 2025 | $-0.20 | $-0.19 | +5.0% | $2M | +34.2% |
| Mar 6, 2024 | $-0.20 | $-0.16 | +20.0% | $2M | +14.4% |
| May 15, 2023 | $-0.68 | $-0.53 | +22.1% | $1M | +23.9% |
| Mar 8, 2022 | $-0.78 | $-0.53 | +32.1% | $1M | +6.2% |
| Aug 10, 2021 | — | $-0.46 | — | $1M | -5.6% |
| Mar 9, 2021 | $-0.90 | $-1.50 | -66.7% | $158000 | — |
| Aug 5, 2020 | $-5.25 | $-3.00 | +42.9% | $313000 | -42.9% |
| Mar 10, 2020 | $-8.55 | $-8.55 | +0.0% | $1M | — |
| Nov 12, 2019 | $-20.24 | $-18.89 | +6.7% | $939000 | -6.7% |
NSPR insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| May 29, 2026 | Stuka Pauldirector | Buy | 20,000 | $0.88 |
| May 21, 2026 | Gleason Shane Thomasofficer: Chief Commercial Officer | Sell | 7,186 | $2.51 |
| May 21, 2026 | Gleason Shane Thomasofficer: Chief Commercial Officer | Sell | 5,132 | $2.46 |
| May 21, 2026 | Gleason Shane Thomasofficer: Chief Commercial Officer | Sell | 9,923 | $2.55 |
| May 21, 2026 | Gleason Shane Thomasofficer: Chief Commercial Officer | Sell | 10,000 | $3.65 |
| May 21, 2026 | Gleason Shane Thomasofficer: Chief Commercial Officer | Sell | 3,760 | $2.51 |
| May 21, 2026 | Gleason Shane Thomasofficer: Chief Commercial Officer | Sell | 7,073 | $2.51 |
| May 21, 2026 | Gleason Shane Thomasofficer: Chief Commercial Officer | Sell | 2,941 | $1.59 |
| May 21, 2026 | Gleason Shane Thomasofficer: Chief Commercial Officer | Sell | 2,454 | $2.51 |
| May 21, 2026 | Gleason Shane Thomasofficer: Chief Commercial Officer | Sell | 1,572 | $2.51 |
| May 21, 2026 | Gleason Shane Thomasofficer: Chief Commercial Officer | Sell | 3,660 | $2.46 |
| May 21, 2026 | Gleason Shane Thomasofficer: Chief Commercial Officer | Sell | 2,476 | $2.61 |
| May 21, 2026 | Gleason Shane Thomasofficer: Chief Commercial Officer | Sell | 22,778 | $1.01 |
| May 21, 2026 | Gleason Shane Thomasofficer: Chief Commercial Officer | Sell | 3,858 | $2.71 |
| May 21, 2026 | Gleason Shane Thomasofficer: Chief Commercial Officer | Sell | 2,482 | $2.51 |
Source: NSPR SEC Form 4 filings, latest May 29, 2026. For informational purposes only — not investment advice.
See the full NSPR insider & 13F page →InspireMD, Inc. company profile
Overview
InspireMD, Inc. (NASDAQ:NSPR) is an Israeli medical device company founded in 2005 and headquartered in Tel Aviv-Yafo, Israel. The company specializes in developing and commercializing proprietary MicroNet stent platform technology for treating vascular and coronary diseases. InspireMD has been publicly traded since 2011 and operates primarily in international markets including Europe, Latin America, the Middle East, and Asia Pacific through local distributors. The company is currently preparing for its most significant milestone - entering the U.S. market with FDA approval expected for its flagship CGuard Prime system in 2025.
Business
InspireMD operates in the interventional cardiology and neurovascular device market, specifically focusing on embolic protection during arterial stenting procedures. The company's core innovation is its proprietary MicroNet technology - an ultra-thin mesh sleeve that wraps around traditional stents to capture debris and prevent it from traveling downstream during arterial interventions. The company's primary product is the CGuard Carotid Embolic Prevention System, which combines a self-expanding stent with MicroNet mesh technology for carotid artery stenting (CAS) procedures. Carotid arteries supply blood to the brain, and when they become narrowed by plaque buildup (carotid stenosis), patients face increased stroke risk. During stenting procedures to open these arteries, debris can break loose and cause strokes - a complication that CGuard's mesh technology is designed to prevent by trapping particles before they reach the brain. InspireMD also offers the MGuard Prime system for coronary interventions, particularly in patients with acute myocardial infarction (heart attacks) and saphenous vein graft procedures. The company is developing PVGuard for peripheral vascular applications and SwitchGuard, a neuroprotection system specifically designed for Trans-Carotid Artery Revascularization (TCAR) procedures. The company generates virtually all revenue from CGuard sales internationally, with annual revenues of approximately $7 million in 2024. The U.S. market represents the company's primary growth opportunity, with management estimating potential quarterly revenues of over $13 million based on equivalent international sales volumes and U.S. pricing premiums.
Revenue model
InspireMD operates a traditional medical device business model, generating revenue through direct product sales to hospitals and medical centers via local distributors in international markets. The company sells its CGuard and MGuard systems as single-use devices, with hospitals purchasing them for individual patient procedures. The company's customers are interventional cardiologists, vascular surgeons, and neurointerventionalists who perform carotid and coronary stenting procedures. In international markets, InspireMD works through established distribution partners who handle sales, training, and customer support. For the anticipated U.S. launch, the company is building a direct sales force of approximately 60 representatives to target high-volume medical centers. Several factors significantly impact InspireMD's margins and growth prospects. Regulatory approval and reimbursement coverage are critical - the company's recent CE Mark recertification challenges temporarily disrupted European sales, while pending FDA approval represents the gateway to the much larger U.S. market. Clinical trial outcomes directly influence physician adoption, with the company's C-GUARDIANS trial showing exceptionally low complication rates that strengthen its competitive position. Manufacturing scale and geographic expansion affect unit economics, as the company currently produces devices in relatively small volumes but anticipates significant scale benefits from U.S. market entry. Competition from established players like Boston Scientific and Abbott in the embolic protection space, as well as alternative treatment approaches like TCAR procedures, create pricing pressure. However, the company's unique MicroNet technology and superior clinical outcomes data provide differentiation that supports premium pricing, particularly in the higher-value U.S. market where procedures command significantly higher reimbursement rates than international markets.
Competitive moat
InspireMD's competitive moat is moderate but defensible, built primarily around its proprietary MicroNet mesh technology and clinical outcomes data. The company's ultra-thin mesh sleeve design represents genuine technological innovation that competitors have not successfully replicated, providing a narrow but meaningful technical moat. The company's strongest competitive advantage lies in its clinical outcomes data, particularly from the C-GUARDIANS trial which demonstrated a 0.95% major adverse event rate at 30 days - reportedly the lowest ever achieved in a carotid stenting pivotal trial. This clinical evidence creates a compelling value proposition for physicians seeking to minimize patient complications, especially important given the high-stakes nature of stroke prevention procedures. However, InspireMD faces significant competitive threats. Large medical device companies like Boston Scientific, Abbott, and Medtronic have substantially greater resources for R&D, clinical trials, and market penetration. These companies could potentially develop competing mesh technologies or acquire smaller innovators. Additionally, the TCAR (Trans-Carotid Artery Revascularization) procedure represents a potentially disruptive alternative approach that bypasses traditional carotid stenting entirely, though InspireMD is developing SwitchGuard to address this market. The company's moat is also limited by its small scale and financial constraints. With only $7 million in annual revenue, InspireMD lacks the resources to defend its technology through extensive patent litigation or rapid geographic expansion. The medical device industry's high regulatory barriers provide some protection, but well-funded competitors could potentially overcome these obstacles. The company's success will largely depend on executing its U.S. market entry successfully before larger competitors develop effective alternatives to its MicroNet technology.
Risks & safety
InspireMD presents moderate financial risk with adequate near-term liquidity but ongoing cash burn concerns requiring careful monitoring. **Cash and Solvency:** - Cash position: $12.4 million as of Q1 2025, down from $18.9 million in Q4 2024 - Quarterly cash burn: Approximately $9 million in free cash flow burn per quarter - Current ratio: 4.36x indicating strong short-term liquidity - Debt-to-equity ratio: 0.058 showing minimal debt burden - Runway: Approximately 3-4 quarters at current burn rate without additional financing **Valuation Metrics:** - Price-to-book ratio: 3.98x suggesting premium valuation relative to tangible assets - Enterprise value to EBITDA: Negative due to losses, but EV of approximately $25 million appears reasonable for potential U.S. market opportunity - Graham Net-Net ratio: 0.59 indicating stock trades below liquidation value **Other Considerations:** - Revenue growth trajectory positive but modest at current scale - Regulatory approval risk for U.S. market entry represents binary outcome for valuation - Small float and low trading volume create liquidity risk for larger positions
Recent development
InspireMD has undergone significant strategic transformation over the past two years, pivoting from a primarily international medical device company to preparing for major U.S. market entry. The company's most critical development is the pending FDA approval for CGuard Prime, with management expecting approval in Q3 2025 after submitting the PMA application in September 2024. The company has made substantial investments in U.S. commercial infrastructure, establishing new headquarters in Miami, Florida and hiring over a dozen field sales professionals led by experienced executives. Management projects the U.S. market could generate over $16 million in annual revenue based on equivalent international sales volumes, representing more than double current total company revenue. Clinical development has accelerated significantly, with the C-GUARDIANS pivotal trial demonstrating exceptional results - a 0.95% major adverse event rate at 30 days and 1.95% at 12 months, which management describes as the lowest rates ever reported in carotid stenting trials. The company has initiated C-GUARDIANS II for TCAR procedures and plans to submit C-GUARDIANS III IDE in Q3 2025. InspireMD has also expanded its product pipeline, developing SwitchGuard neuroprotection system specifically for TCAR procedures, with FDA clearance targeted for late 2026. The company is exploring new indications including acute stroke with tandem lesions through early feasibility studies. Additionally, the company successfully navigated European regulatory challenges, reinstating its CE Mark after temporary expiration and completing MDR recertification to maintain international market access.
NSPR company profile · for informational purposes only — not investment advice.
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