InspireMD, Inc.
NSPR Nasdaq Surgical & Medical Instruments & Apparatus Financials FY2016โFY2025
Last close ยท Oct 23, 2026
$0.45
1.3%What InspireMD, Inc. does
No business description yet.
- Legal name
- InspireMD, Inc.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K ยท Mar 18, 2026
- Accession ยท CIK
- 0001493152-26-010886
0001433607
Revenue and margins
InspireMD, Inc. had $9.0M of revenue in fiscal 2025, up 28.1% on the year before.
Net income and earnings per share
Loss periods are shown in red.
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Cash flow
Free cash flow was โ$36.8M in fiscal 2025, โ409.5% of revenue. Cash from operations minus capital spending.
Dividends, buybacks and share count
InspireMD, Inc. returned โ to shareholders in fiscal 2025. The diluted share count rose 53.4%.
Balance sheet
Cash, debt and the ratios that show how comfortably InspireMD, Inc. can carry it.
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $12.0M | $4.6M | $39.0M | $34.6M | $54.2M |
| Current ratio | 8.5x | 4.2x | 7.3x | 5.3x | 5.7x |
| Quick ratio | 8.3x | 3.9x | 7.0x | 4.9x | 5.4x |
| Total assets | $39.7M | $24.7M | $47.6M | $46.8M | $69.4M |
| Total liabilities | $6.2M | $7.3M | $8.1M | $10.7M | $14.2M |
| Shareholders' equity | $33.5M | $17.4M | $39.5M | $36.1M | $55.2M |
| Net debt (โ = net cash) | โ | โ | โ | โ | โ |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. โPlanโ marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
โ
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8โ9 is strong, 0โ2 weak.
| Test | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income is positive | โ | โ | โ | โ | โ | โ | โ | โ | โ | โ |
| Cash from operations is positive | โ | โ | โ | โ | โ | โ | โ | โ | โ | โ |
| Return on assets rose | โ | โ | โ | โ | โ | โ | โ | โ | โ | โ |
| Cash from operations exceeds net income | โ | โ | โ | โ | โ | โ | โ | โ | โ | โ |
| Debt fell relative to assets | โ | โ | โ | โ | โ | โ | โ | โ | โ | โ |
| Current ratio rose | โ | โ | โ | โ | โ | โ | โ | โ | โ | โ |
| Share count didn't rise | โ | โ | โ | โ | โ | โ | โ | โ | โ | โ |
| Gross margin rose | โ | โ | โ | โ | โ | โ | โ | โ | โ | โ |
| Revenue rose relative to assets | โ | โ | โ | โ | โ | โ | โ | โ | โ | โ |
| F-score | โ / 3 | 4 / 8 | 3 / 8 | 2 / 8 | 4 / 8 | 4 / 8 | 3 / 8 | 4 / 8 | 2 / 8 | 3 / 8 |
| Accruals ratio | โ10.3% | โ4.0% | 4.0% | โ2.1% | โ10.6% | โ5.9% | โ9.2% | โ9.8% | โ21.5% | โ23.5% |
| Altman Z'' | โ47.68 | โ80.19 | โ36.17 | โ54.31 | โ28.20 | โ6.41 | โ24.92 | โ7.79 | โ14.33 | โ10.12 |
10 years of figures
Amounts in USD. Hover a ratioโs name for its definition.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $1.9M | $2.8M | $3.6M | $3.7M | $2.5M | $4.5M | $5.2M | $6.2M | $7.0M | $9.0M |
| Gross profit | $0.1M | $0.6M | $1.0M | $0.8M | $0.1M | $0.8M | $1.1M | $1.8M | $1.5M | $2.6M |
| Research and development | $1.3M | $1.3M | $1.5M | $3.0M | $2.2M | $5.2M | $7.8M | $8.0M | $13.6M | $15.0M |
| Operating income | โ$7.6M | โ$8.2M | โ$7.6M | โ$9.8M | โ$10.4M | โ$14.7M | โ$18.7M | โ$21.1M | โ$33.5M | โ$49.6M |
| Interest expense | $0.7M | $0.1M | โ | โ | โ | โ | โ | โ | โ | โ |
| Pretax income | โ$8.5M | โ$8.4M | โ$7.2M | โ$10.0M | โ$10.5M | โ$14.9M | โ$18.5M | โ$19.9M | โ$31.9M | โ$48.7M |
| Income tax | $0.0M | $0.0M | โ | $0.0M | $0.0M | $0.0M | $0.0M | $0.1M | $0.1M | $0.1M |
| Net income | โ$8.5M | โ$8.4M | โ$7.2M | โ$10.0M | โ$10.5M | โ$14.9M | โ$18.5M | โ$19.9M | โ$32.0M | โ$48.8M |
| Net income to common | โ$8.5M | โ$13.0M | โ$7.7M | โ | โ | โ | โ | โ | โ | โ |
| Diluted EPS | โ$207.72 | โ$34.98 | โ$16.67 | โ$4.80 | โ$6.97 | โ$2.03 | โ$2.35 | โ$0.82 | โ$0.76 | โ$0.76 |
| Diluted shares | 0.00B | 0.00B | 0.00B | 0.00B | 0.00B | 0.01B | 0.01B | 0.02B | 0.04B | 0.06B |
| Cash flow | ||||||||||
| Cash from operations | โ$7.5M | โ$8.1M | โ$7.6M | โ$9.8M | โ$9.1M | โ$13.2M | โ$15.5M | โ$16.4M | โ$21.9M | โ$35.1M |
| Capital expenditure | $0.0M | $0.3M | $0.1M | $0.3M | $0.1M | $0.3M | $0.5M | $0.4M | $1.4M | $1.7M |
| Free cash flow | โ$7.5M | โ$8.4M | โ$7.7M | โ$10.1M | โ$9.2M | โ$13.6M | โ$16.0M | โ$16.8M | โ$23.3M | โ$36.8M |
| Depreciation and amortization | $0.1M | $0.2M | $0.1M | $0.2M | $0.2M | $0.2M | $188M | $232M | $280M | $476M |
| Stock-based compensation | $1.0M | $0.7M | $0.1M | $0.3M | $0.6M | $1.6M | $2.4M | $4.5M | $10.1M | $12.3M |
| Balance sheet | ||||||||||
| Cash and short-term investments | $7.5M | $3.7M | $9.4M | $5.5M | $12.6M | $12.0M | $4.6M | $39.0M | $34.6M | $54.2M |
| Total debt | $2.7M | โ | โ | โ | โ | โ | โ | โ | โ | โ |
| Current assets | $8.6M | $5.2M | $11.4M | $7.8M | $15.3M | $37.1M | $21.3M | $44.2M | $40.5M | $61.5M |
| Current liabilities | $4.8M | $2.5M | $2.9M | $3.1M | $3.7M | $4.3M | $5.1M | $6.0M | $7.7M | $10.7M |
| Inventory | $0.5M | $0.5M | $1.1M | $1.2M | $1.4M | $1.1M | $1.6M | $2.1M | $2.6M | $3.4M |
| Property and equipment, net | $0.4M | $0.5M | $0.4M | $0.5M | $0.4M | $0.6M | $0.9M | $1.1M | $2.4M | $3.6M |
| Total assets | $9.4M | $6.1M | $12.3M | $9.9M | $17.8M | $39.7M | $24.7M | $47.6M | $46.8M | $69.4M |
| Total liabilities | $5.4M | $3.1M | $3.5M | $4.5M | $5.6M | $6.2M | $7.3M | $8.1M | $10.7M | $14.2M |
| Shareholders' equity | $4.0M | $2.7M | $8.8M | $5.4M | $12.2M | $33.5M | $17.4M | $39.5M | $36.1M | $55.2M |
| Margins | ||||||||||
| Gross margin | 5.4% | 21.2% | 27.6% | 20.3% | 3.3% | 16.8% | 21.6% | 29.1% | 21.5% | 29.5% |
| Operating margin | โ403.8% | โ298.2% | โ211.4% | โ263.8% | โ417.7% | โ327.4% | โ361.9% | โ340.7% | โ478.0% | โ552.6% |
| EBITDA margin | โ396.3% | โ292.6% | โ207.5% | โ259.6% | โ411.6% | โ323.8% | 3,273.8% | 3,398.2% | 3,516.9% | 4,748.7% |
| Net margin | โ446.7% | โ305.6% | โ201.1% | โ269.8% | โ424.3% | โ331.9% | โ357.6% | โ321.0% | โ456.6% | โ543.3% |
| FCF margin | โ398.3% | โ303.8% | โ213.1% | โ271.3% | โ369.0% | โ301.5% | โ309.7% | โ270.1% | โ332.0% | โ409.5% |
| Returns | ||||||||||
| Return on capital employed | โ165.1% | โ227.1% | โ81.2% | โ145.1% | โ73.8% | โ41.6% | โ95.6% | โ50.8% | โ85.6% | โ84.5% |
| Return on equity | โ209.2% | โ249.2% | โ126.0% | โ141.9% | โ120.2% | โ65.3% | โ72.6% | โ70.0% | โ84.7% | โ106.9% |
| Return on assets | โ89.9% | โ108.8% | โ78.7% | โ90.6% | โ76.2% | โ51.9% | โ57.5% | โ55.1% | โ67.8% | โ84.0% |
| Return on tangible equity | โ209.2% | โ477.7% | โ87.8% | โ186.5% | โ86.7% | โ44.5% | โ106.3% | โ50.4% | โ88.7% | โ88.4% |
| Growth | ||||||||||
| Revenue growth | โ | 45.8% | 30.4% | 3.3% | โ33.2% | 80.9% | 15.0% | 20.0% | 13.0% | 28.1% |
| Share count change | โ | 815.2% | 23.9% | 352.9% | โ27.6% | 385.7% | 7.2% | 208.3% | 72.8% | 53.4% |
| Financial health | ||||||||||
| Debt / equity | 0.7x | โ | โ | โ | โ | โ | โ | โ | โ | โ |
| Interest coverage | โ10.6x | โ69.2x | โ | โ | โ | โ | โ | โ | โ | โ |
| Current ratio | 1.8x | 2.1x | 3.9x | 2.5x | 4.1x | 8.5x | 4.2x | 7.3x | 5.3x | 5.7x |
| Quick ratio | 1.7x | 1.9x | 3.5x | 2.1x | 3.8x | 8.3x | 3.9x | 7.0x | 4.9x | 5.4x |
| Capital allocation | ||||||||||
| Capex / revenue | 2.6% | 9.3% | 1.9% | 7.6% | 3.5% | 7.7% | 9.1% | 6.1% | 20.0% | 18.5% |
| Stock comp / revenue | 51.6% | 24.3% | 1.9% | 8.7% | 24.4% | 35.1% | 45.5% | 72.4% | 144.6% | 137.3% |
| Quality scores | ||||||||||
| Piotroski F-score | โ | 4.0 | 3.0 | 2.0 | 4.0 | 4.0 | 3.0 | 4.0 | 2.0 | 3.0 |
| Altman Z'' | โ47.7 | โ80.2 | โ36.2 | โ54.3 | โ28.2 | โ6.4 | โ24.9 | โ7.8 | โ14.3 | โ10.1 |
| Accruals ratio | โ10.3% | โ4.0% | 4.0% | โ2.1% | โ10.6% | โ5.9% | โ9.2% | โ9.8% | โ21.5% | โ23.5% |
Source: SEC EDGAR XBRL filings (CIK 0001433607). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only โ not investment advice. Check the original filings before relying on any figure.
