INSP is a medical device company that make neurostimulators for use in sleep apneic patients.
They again exceeded their guidance and raised guidance for Q4.
Some highlights:
Revenue grew 16% sequentially and 72% from year-ago quarter.
Gross margin ticked up to 86%.
They raised revenue guidance for the year to represent 91% over 2020 (versus 83% previous guidance).
They are aggressively adding centers that perform the surgery: 68 new centers. They also raised guidance for adding new centers going forward to 52-56 in Q4.
They created 11 more sales territories to aid in their aggressive expansion, and created new executive structure to help oversee this expansion.
They shipped their first product to Japan, and expect to begin commercialization in Q1 next year.
One analyst asked if we should expect to see the growth trend continue. The answer was basically ‘yes, look at all the growth of sales force we are doing’(!).
Everything still looks great to me.
-lemur