Inspire Gains 8% On Announcement Of Preliminary Q4, FY23 Revenue

(RTTNews) - On Monday, Inspire Medical Systems, Inc. (INSP) gained 8% after announcement of preliminary revenue for fourth quarter and fiscal year 2023. The anticipated revenue for both periods were better than consensus estimates.

Currently, the shares of Inspire are trading up 8.50%, to $190.57 on a volume of 469,703 from previous close of $175.65. It had traded between $123.27 and $330 in the last 52-week period.

For fourth quarter, the company anticipates revenue of $192.3 million to $192.5 million, up 40% from last year, whereas analysts polled by Thomson-Reuters estimate it to be $177.94 million.

For full year 2023, the company expects revenue of $624.6 million to $624.8 million, up 53% than prior year, higher than analysts' estimate of $610.22 million.

The company said that it sees revenue for full year 2024 of $775 million to $785 million, up 24% to 26% from previous year. However, analysts estimate it to stand at $773.25 million for the same period.