InspireMD (NSPR) Q2 2026 Earnings Call: Recall Impact and FDA Catalysts
Source Tradingkey
Key Takeaways
- InspireMD reported Q2 2026 revenue of $1.8 million, essentially unchanged year over year, despite the voluntary recall of the CGuard Prime 135 carotid stent system.
- International revenue increased 21% to $2.1 million, driven by continued demand rather than foreign exchange movements.
- Recall-related customer credits of $734,000 and a $612,000 inventory impairment pushed gross profit to a loss of $0.8 million, representing a negative 43.7% gross margin.
- Net loss widened to $14.3 million from $13.2 million, while loss per share narrowed to $0.17 from $0.26. Cash, cash equivalents and marketable securities totaled $30.4 million at quarter-end.
- Management said potential FDA decisions for CGuard Prime 80 for TCAR and the original CGuard platform for CAS remain targeted for Q4 2026.
- A workforce reduction of nearly 20% is expected to generate approximately $9 million in annual savings, with the full cost impact expected to become visible in Q4 2026.
Core Financial Results
| Metric | Q2 2026 | Q2 2025 | Change / Commentary |
|---|---|---|---|
| Total revenue | $1.8 million | $1.8 million | Essentially flat year over year |
| International revenue | $2.1 million | Not specified | Up 21%; growth driven by demand |
| Recall-related customer credits | $734,000 | — | Reduced reported U.S. revenue |
| Gross profit | $(0.8) million | $0.3 million | Affected by recall credits and inventory impairment |
| Gross margin | (43.7)% | 17.6% | Included recall-related charges |
| Adjusted gross profit | $0.6 million | — | Excludes customer credits and impairment |
| Operating expenses | $13.7 million | $13.3 million | Up $0.4 million |
| Net loss | $14.3 million | $13.2 million | Loss increased by $1.1 million |
| Loss per share | $0.17 | $0.26 | Basic and diluted |
| Cash and marketable securities | $30.4 million | $54.2 million at Dec. 31, 2025 | Balance as of June 30, 2026 |
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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