Inspire Medical Systems (INSP) FY2020 results: revenue $115 million, up 40.6% on the year
Inspire Medical Systems, Inc. (INSP) reported revenue of $115 million for fiscal 2020, the year ended 31 December 2020, up 40.6% on the year before. Net income was -$57 million, and diluted earnings per share $-2.19. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2021.
Revenue
$115 million
+40.6% on the year
FY2016FY2020
Operating margin
-48.7%
-42.5% a year earlier
FY2016FY2020
Net income
-$57 million
FY2016FY2020
Diluted EPS
-$2.19
FY2016FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
115
82.0
50.6
+40.6%
Cost of revenue
17.6
13.6
10.1
+29.2%
Gross profit
97.8
68.4
40.5
+42.9%
Gross margin
84.7%
83.4%
80.1%
Research and development
26.1
12.8
7.4
+103.2%
Selling, general and administrative
128
90.5
53.5
+41.4%
Operating income
-56.2
-34.9
-20.4
Operating margin
-48.7%
-42.5%
-40.3%
Interest expense
2.1
2.1
3.3
-0.1%
Pre-tax income
-57.1
-33.2
-21.8
Income tax
0.1
0.0
0.0
+187.5%
Net income
-57.2
-33.2
-21.8
Net margin
-49.6%
-40.5%
-43.1%
Diluted EPS
-$2.19
-$1.40
-$1.50
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
-53.0
-32.8
-18.7
Capital expenditure
2.5
2.7
0.2
-10.4%
Free cash flow
-55.5
-35.6
-18.9
Free cash flow margin
-48.1%
-43.4%
-37.4%
Cash from investing
86.6
-43.6
-83.4
Cash from financing
134
2.0
190
+6,726.1%
Depreciation and amortisation
0.8
0.5
0.4
+69.7%
Share-based compensation
12.8
6.2
1.2
+106.8%
Diluted shares, weighted
26m
24m
n/a
+9.5%
Shares outstanding at period end
27m
24m
23m
+12.3%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
230
140
164
+64.3%
Debt
24.5
24.5
24.5
0.0%
Operating lease liabilities
5.9
0.0
n/a
Other liabilities
21.1
16.9
11.6
+24.5%
Total liabilities and equity
281
181
200
+55.1%
Fixed assets
5.3
3.0
0.8
+74.4%
Investments
43.8
133
90.9
-67.0%
Cash and equivalents
191
22.9
97.3
+733.4%
Receivables
25.1
13.1
6.7
+90.9%
Inventory
8.5
5.8
2.7
+45.3%
Other assets
8.0
3.5
1.7
+127.7%
Total assets
281
181
200
+55.1%
10-K for the year ended 31 December 2020, filed 24 February 2021: the filing.