/
We are a medical technology company focused on the development and commercialization of innovative, minimally invasive solutions for patients with obstructive sleep apnea ("OSA"). Our proprietary Inspire system is the first FDA, European Union ("EU") Regulation No. 2017/745 ("MDR" or "EU Medical Devices Regulation"), and Japan Pharmaceuticals and Medical Devices Agency-approved neurost…
Operating margin is thin at 5.59%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue grew 13.6%, still solid. Free cash flow declined 14% despite revenue growth, conversion is weakening.
Free cash flow declined 14% versus the prior year, cash generation momentum has weakened.
Profitability & Returns
Revenue (TTM)
$915M
▲ +13.6% YoY
Net Income (TTM)
$131M
▲ +171.8% YoY
Op. Margin
5.61%
▲ +1.1pp YoY
ROIC
5.33%
▲ +0.5pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$97M
▼ -13.9% YoY
Op. Cash Flow (TTM)
$137M
▼ -10.2% YoY
Net Debt
-$254M
Net Cash Position
Cash & Equiv.
$284M
5Y CAGR: +51.2%
Continue Research