InspireMD (NASDAQ:NSPR) reported a significant acceleration in its commercial operations for the fourth quarter of 2025, fueled by the successful U.S. market introduction of its CGuard Prime Carotid Stent System.
The medical device company posted quarterly revenue of $3.1 million, marking a 62% increase over the same period in the prior year.
For the full fiscal year 2025, total revenue reached $9 million, a 28% year-over-year improvement.
The company's bottom-line metrics also showed structural progress, with gross margin expanding to 37.5% in the fourth quarter.
This margin improvement reflects the transition toward higher-margin direct sales in the United States and optimized manufacturing efficiencies.
Operating expenses for the full year rose to $52.3 million as the firm scaled its commercial infrastructure and advanced its clinical pipeline.
As of December 31, 2025, InspireMD maintained a solid liquidity position with $54.2 million in cash and marketable securities.
Management highlighted several critical operational milestones achieved during the year, including the completion of enrollment for the C-GUARDIANS II clinical trial and a formal PMA-S submission for its transcarotid artery revascularization (TCAR) platform.
Furthermore, the clinical profile of the company’s MicroNet technology received additional validation through a peer-reviewed publication in the Journal of the American College of Cardiology (JACC), which executives believe will bolster physician adoption.
Looking ahead to 2026, InspireMD issued confident revenue guidance of $13 million to $15 million, representing projected annual growth of approximately 45% to 65%.