InspireMD, Inc. (NSPR) Income Statement
NSPR 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsNSPR revenue and net income
Where NSPR's revenue goes
2025Each bar shows an amount and its share of revenue. NSPR kept −543.3% of revenue as net income.
NSPR profit margins
NSPR growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +28.1% | +20.2% | +29.3% | +14.5% |
| Gross profit | +75.9% | +33.4% | +99.9% | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
NSPR quarterly EPS vs estimates
InspireMD beat the analyst EPS estimate in 7 of the last 8 quarters. Next report: November 3, 2026 (estimate $-0.15).
NSPR income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $9.0M | $7.0M | $6.2M | $5.2M | $4.5M | $2.5M | $3.7M | $3.6M | $2.8M | $1.9M |
| Cost of revenue | $6.3M | $5.5M | $4.4M | $4.1M | $3.7M | $2.4M | $3.0M | $2.6M | $2.2M | $1.8M |
| Gross profit | $2.6M | $1.5M | $1.8M | $1.1M | $754,000 | $83,000 | $756,000 | $995,000 | $585,000 | $102,000 |
| Research & development | $15.0M | $13.6M | $8.0M | $7.8M | $5.2M | $2.2M | $3.0M | $1.5M | $1.3M | $1.3M |
| Sales, general & admin | $37.3M | $21.4M | $15.0M | $12.0M | $10.3M | $8.2M | $7.6M | $7.1M | $7.5M | $6.5M |
| Total operating expenses | $51.8M | $35.0M | $22.9M | $19.8M | $15.5M | $10.5M | $10.6M | $8.6M | $8.8M | $7.8M |
| Operating income | −$49.1M | −$33.5M | −$21.1M | −$18.7M | −$14.7M | −$10.4M | −$9.8M | −$7.6M | −$8.2M | −$7.6M |
| Interest income | $891,000 | $1.6M | $1.3M | $250,000 | — | — | — | — | $119,000 | $721,000 |
| Interest expense | — | — | — | $28,000 | $157,000 | $160,000 | $42,000 | $0 | $179,000 | $812,000 |
| Income before taxes | −$48.7M | −$31.9M | −$19.9M | −$18.5M | −$14.9M | −$10.5M | −$10.0M | −$7.2M | −$8.4M | −$8.5M |
| Income taxes | $63,000 | $59,000 | $65,000 | $28,000 | $45,000 | $4,000 | $24,000 | −$371,000 | $27,000 | $1,000 |
| Net income | −$48.8M | −$32.0M | −$19.9M | −$18.5M | −$14.9M | −$10.5M | −$10.0M | −$7.2M | −$8.4M | −$8.5M |
| EBITDA | −$48.2M | −$31.7M | −$19.6M | −$18.5M | −$14.6M | −$10.2M | −$9.7M | −$7.5M | −$8.1M | −$7.5M |
| EPS (diluted) | −$0.79 | −$0.78 | −$1.08 | −$2.34 | −$2.05 | −$11.55 | −$108.60 | −$16.08 | −$4995.74 | −$278661.63 |
| Gross margin | 29.5% | 21.5% | 29.1% | 21.6% | 16.8% | 3.3% | 20.3% | 27.6% | 21.2% | 5.4% |
| Operating margin | −547.0% | −478.0% | −340.7% | −361.9% | −327.4% | −417.7% | −263.8% | −211.4% | −298.2% | −403.8% |
| Net margin | −543.3% | −456.6% | −321.0% | −357.6% | −331.9% | −424.3% | −269.8% | −201.1% | −305.6% | −446.7% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.8M | $3.4M | $3.1M | $2.5M | $1.8M | $1.5M | $1.9M | $1.8M | $1.7M | $1.5M | $1.8M | $1.6M |
| Cost of revenue | $2.5M | $2.7M | $2.0M | $1.7M | $1.5M | $1.2M | $1.5M | $1.4M | $1.4M | $1.2M | $1.3M | $1.1M |
| Gross profit | −$774,000 | $687,000 | $1.2M | $864,000 | $313,000 | $292,000 | $469,000 | $414,000 | $331,000 | $292,000 | $505,000 | $438,000 |
| Research & development | $4.3M | $4.8M | $3.5M | $3.6M | $3.8M | $4.1M | $3.7M | $3.9M | $3.4M | $2.6M | $2.0M | $2.1M |
| Sales, general & admin | $9.4M | $9.9M | $9.8M | $10.3M | $9.5M | $7.7M | $6.1M | $5.0M | $5.2M | $5.1M | $4.3M | $4.0M |
| Total operating expenses | $13.7M | $14.7M | $13.3M | $13.9M | $13.3M | $11.8M | $9.8M | $8.9M | $8.6M | $7.7M | $6.3M | $6.1M |
| Operating income | −$14.4M | −$14.0M | −$12.1M | −$13.1M | −$13.0M | −$11.5M | −$9.4M | −$8.5M | −$8.3M | −$7.4M | −$5.8M | −$5.6M |
| Interest income | — | $289,000 | $386,000 | $343,000 | — | $294,000 | $252,000 | $572,000 | $351,000 | $382,000 | $468,000 | $461,000 |
| Interest expense | — | — | — | — | $132,000 | — | — | — | — | — | $125,000 | — |
| Income before taxes | −$14.3M | $289,000 | −$11.7M | −$12.7M | −$13.2M | −$11.2M | −$9.1M | −$7.9M | −$7.9M | −$7.0M | −$5.3M | −$5.2M |
| Income taxes | — | — | $63,000 | — | — | — | $59,000 | — | — | $25,724 | $65,000 | −$58,000 |
| Net income | −$14.3M | $289,000 | −$11.8M | −$12.7M | −$13.2M | −$11.2M | −$9.2M | −$7.9M | −$7.9M | −$7.0M | −$5.4M | −$5.2M |
| EBITDA | −$14.2M | $438,000 | −$11.6M | −$12.6M | −$12.9M | −$11.1M | −$9.0M | −$7.8M | −$7.8M | −$7.0M | −$5.3M | −$5.1M |
| EPS (diluted) | −$0.17 | −$0.16 | −$0.14 | −$0.17 | −$0.26 | −$0.22 | −$0.19 | −$0.16 | −$0.22 | −$0.21 | −$0.16 | −$0.15 |
| Gross margin | −43.7% | 20.2% | 37.5% | 34.2% | 17.6% | 19.1% | 24.1% | 22.9% | 19.0% | 19.3% | 28.7% | 28.1% |
| Operating margin | −815.6% | −411.4% | −383.7% | −517.3% | −732.2% | −749.5% | −480.6% | −467.5% | −475.0% | −490.7% | −329.8% | −362.4% |
| Net margin | −808.8% | 8.5% | −373.5% | −503.7% | −739.7% | −730.3% | −470.7% | −435.9% | −454.8% | −465.4% | −306.9% | −332.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in NSPR's financial statements (latest annual report filed March 18, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
NSPR financial results
In fiscal year 2025 (ended December 31, 2025), InspireMD reported revenue of $9.0 million, up 28.1% from the year before. It had a net loss of $48.8 million, a net profit margin of −543.3%. Diluted earnings per share came to −$0.79. Over five years revenue grew at an average rate of 29.3% a year.
See the NSPR stock overview for the latest quote and news, or the NSPR chart for price history and technical indicators.
NSPR income statement FAQ
What is InspireMD's annual revenue?
InspireMD reported total revenue of $9.0 million for fiscal year 2025, which ended on December 31, 2025. That was up 28.1% from $7.0 million the previous year.
Is InspireMD profitable?
No. InspireMD reported a net loss of $48.8 million in fiscal 2025, a net profit margin of −543.3%; its operating margin was −547.0%.
What is InspireMD's gross margin?
InspireMD's gross margin was 29.5% in fiscal 2025: for every $100 of revenue, InspireMD kept $30 after the direct cost of its products and services.
How much does InspireMD spend on research and development?
InspireMD spent $15.0 million on research and development in fiscal 2025, 167.1% of revenue.
How fast is InspireMD growing?
Revenue grew 29.3% a year on average over the last five fiscal years, from $2.5 million to $9.0 million.
What are InspireMD's earnings per share?
InspireMD earned $-0.79 per diluted share in fiscal 2025, compared with $-0.78 a year earlier.
When will InspireMD report its next earnings?
InspireMD is expected to report results for the quarter ending September 30, 2026 on November 3, 2026.
When does InspireMD's fiscal year end?
InspireMD's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 18, 2026.