NSPR Nasdaq Surgical & Medical Instruments & Apparatus Financials FY2016βFY2025
InspireMD, Inc. had $9.0M of revenue in fiscal 2025, up 28.1% on the year before. Over five years, revenue changed +29.3% a year on average.
Last close Β· Oct 23, 2026
$0.45
1.3%Hi! I read InspireMD, Inc.βs latest annual report (fiscal 2025). Here is what stands out:
Good So-so Weak
Are sales growing?
+28.1%
Yes. Sales grew 28.1% last year.
Does it make a profit?
β543.3%
No. It lost money last year.
Does profit turn into cash?
β409.5%
No. It spent more cash than it brought in.
How healthy are the accounts?
3 / 8
Weak. It passes 3 of 8 health tests.
How is the share priced?
β
No P/E: it made no profit over the last four quarters.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Is it selling more, and how much does it keep?
In plain words: Every quarter, companies publish how much they sold and earned. These are the days InspireMD, Inc. did it, and the next one. Share prices often move a lot on those days.
Next results
November 3, 2026
Tuesday Β· in 8 days
| Date | Results for | Time | Source |
|---|---|---|---|
| Aug 14, 2026 | Q2 '26 | After the market closes | 10-Q β |
| May 4, 2026 | Q1 '26 | After the market closes | 8-K β |
| Mar 18, 2026 | Q4 '25 | Before the market opens | 8-K β |
| Nov 4, 2025 | Q3 '25 | After the market closes | 8-K β |
| Aug 4, 2025 | Q2 '25 | After the market closes | 10-Q β |
| May 8, 2025 | Q1 '25 | After the market closes | 10-Q β |
| Mar 12, 2025 | Q4 '24 | Before the market opens | 8-K β |
| Nov 12, 2024 | Q3 '24 | Before the market opens | 10-Q β |
From SEC filings: the results press release (8-K) or, without one, the quarterly or annual report.
KIRA Β· InspireMD, Inc. had $9.0M of revenue in fiscal 2025, up 28.1% on the year before. Over five years, revenue changed +29.3% a year on average. Its operating margin was β552.6%, down 74.6Β pts: of every 100 in sales, about β553 is left after running the business.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Revenue
Revenue
Margins, % of revenue
Margins, % of revenue
KIRA Β· InspireMD, Inc. lost $48.8M in fiscal 2025.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Net income
Net income
Diluted EPS
Diluted EPS
How much cash comes in, and where does it go?
KIRA Β· Free cash flow was β$36.8M in fiscal 2025, β409.5% of revenue.
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations vs capital spending
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Dividends and buybacks
Diluted shares outstanding (annual)
KIRA Β· No open-market insider trades in the last 12 months.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
β
$0.0M
No open-market insider trades in the last 12 months.
Can it carry its debts, and how well does it use its money?
Cash, debt and the ratios that show how comfortably InspireMD, Inc. can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Cash vs debt (incl. leases)
| 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 (β = net cash) | β | β | β | β | β |
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Return on capital, equity and assets (annual)
KIRA Β· InspireMD, Inc. passes 3 of 8 financial health tests (Piotroski F-score).
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β | β | β | β | β | β |
| F-score | β / 3 | 4 / 8 | 3 / 8 | 2 / 8 | 4 / 8 | 4 / 8 | 3 / 8 | 4 / 8 | 2 / 8 | 3 / 8 |
| Accruals ratio | β10.3% | β4.0% | 4.0% | β2.1% | β10.6% | β5.9% | β9.2% | β9.8% | β21.5% | β23.5% |
| Altman Z'' | β47.68 | β80.19 | β36.17 | β54.31 | β28.20 | β6.41 | β24.92 | β7.79 | β14.33 | β10.12 |
Every number, year by year.
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| 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 | β$7.6M | β$8.2M | β$7.6M | β$9.8M | β$10.4M | β$14.7M | β$18.7M | β$21.1M | β$33.5M | β$49.6M |
| Interest expense | $0.7M | $0.1M | β | β | β | β | β | β | β | β |
| Pretax income | β$8.5M | β$8.4M | β$7.2M | β$10.0M | β$10.5M | β$14.9M | β$18.5M | β$19.9M | β$31.9M | β$48.7M |
| Income tax | $0.0M | $0.0M | β | $0.0M | $0.0M | $0.0M | $0.0M | $0.1M | $0.1M | $0.1M |
| Net income | β$8.5M | β$8.4M | β$7.2M | β$10.0M | β$10.5M | β$14.9M | β$18.5M | β$19.9M | β$32.0M | β$48.8M |
| Net income to common | β$8.5M | β$13.0M | β$7.7M | β | β | β | β | β | β | β |
| Diluted EPS | β$207.72 | β$34.98 | β$16.67 | β$4.80 | β$6.97 | β$2.03 | β$2.35 | β$0.82 | β$0.76 | β$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 | β$7.5M | β$8.1M | β$7.6M | β$9.8M | β$9.1M | β$13.2M | β$15.5M | β$16.4M | β$21.9M | β$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 | β$7.5M | β$8.4M | β$7.7M | β$10.1M | β$9.2M | β$13.6M | β$16.0M | β$16.8M | β$23.3M | β$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 | β | β | β | β | β | β | β | β | β |
| 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 | β403.8% | β298.2% | β211.4% | β263.8% | β417.7% | β327.4% | β361.9% | β340.7% | β478.0% | β552.6% |
| EBITDA margin | β396.3% | β292.6% | β207.5% | β259.6% | β411.6% | β323.8% | 3,273.8% | 3,398.2% | 3,516.9% | 4,748.7% |
| Net margin | β446.7% | β305.6% | β201.1% | β269.8% | β424.3% | β331.9% | β357.6% | β321.0% | β456.6% | β543.3% |
| FCF margin | β398.3% | β303.8% | β213.1% | β271.3% | β369.0% | β301.5% | β309.7% | β270.1% | β332.0% | β409.5% |
| Returns | ||||||||||
| Return on capital employed | β165.1% | β227.1% | β81.2% | β145.1% | β73.8% | β41.6% | β95.6% | β50.8% | β85.6% | β84.5% |
| Return on equity | β209.2% | β249.2% | β126.0% | β141.9% | β120.2% | β65.3% | β72.6% | β70.0% | β84.7% | β106.9% |
| Return on assets | β89.9% | β108.8% | β78.7% | β90.6% | β76.2% | β51.9% | β57.5% | β55.1% | β67.8% | β84.0% |
| Return on tangible equity | β209.2% | β477.7% | β87.8% | β186.5% | β86.7% | β44.5% | β106.3% | β50.4% | β88.7% | β88.4% |
| Growth | ||||||||||
| Revenue growth | β | 45.8% | 30.4% | 3.3% | β33.2% | 80.9% | 15.0% | 20.0% | 13.0% | 28.1% |
| Share count change | β | 815.2% | 23.9% | 352.9% | β27.6% | 385.7% | 7.2% | 208.3% | 72.8% | 53.4% |
| Financial health | ||||||||||
| Debt / equity | 0.7x | β | β | β | β | β | β | β | β | β |
| Interest coverage | β10.6x | β69.2x | β | β | β | β | β | β | β | β |
| 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 | β | 4.0 | 3.0 | 2.0 | 4.0 | 4.0 | 3.0 | 4.0 | 2.0 | 3.0 |
| Altman Z'' | β47.7 | β80.2 | β36.2 | β54.3 | β28.2 | β6.4 | β24.9 | β7.8 | β14.3 | β10.1 |
| Accruals ratio | β10.3% | β4.0% | 4.0% | β2.1% | β10.6% | β5.9% | β9.2% | β9.8% | β21.5% | β23.5% |
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 β not investment advice. Check the original filings before relying on any figure.
