Inspire Medical Systems (NYSE: INSP) easily blew past Wall Street predictions in Q2, though the company is scaling back its gross margin projections.
Minneapolis-based Inspire Medical is the maker of a minimally-invasive, implantable, pacemaker-like device that uses neurostimulation to treat obstructive sleep apnea. It lost $14.5 million, or 53¢ per share, off $91.4 million in sales for the quarter ended June 30, 2022 — versus a loss of $13.1 million, or 48¢ per share, off $53 million in sales for the same quarter a year before.
The results handily beat the expectations of Wall Street analysts, who had expected a loss of 62¢ per share off $78.28 million in revenue.
“The Inspire team executed extremely well during the second quarter, continuing the rebound from the first quarter that was challenged by both COVID and our normal seasonality. Moreover, our strong second quarter performance overcame several challenges common across the medical technolog…