InspireMD, Inc. announced its financial and operating results for the fourth quarter and full year ended December 31, 2024, on March 12, 2025. For Q4 2024, total revenue increased by 10.7% to $1.949 million from $1.761 million in Q4 2023, driven by growth in new and existing markets.
The company reported a gross profit of $469,000 for Q4 2024, a decrease of 7.1% from the prior year, primarily due to increased material and labor costs. Total operating expenses for Q4 2024 surged by 55.8% to $9.836 million, mainly due to expansion of U.S. personnel and sales force, and clinical/regulatory expenses for the TCAR market and CGuard Prime U.S. launch.
For the full year 2024, revenue increased by 13.0% to $7.009 million, while the net loss widened to $32.005 million, or $0.76 per share, compared to a net loss of $19.916 million, or $0.82 per share, in 2023. Cash and cash equivalents stood at $34.637 million as of December 31, 2024.
CEO Marvin Slosman highlighted 2024 as a year of significant progress, including the submission of the CGuard Prime PMA application to the FDA and the initiation of the CGUARDIANS II pivotal study. The company continues to anticipate a CGuard Prime launch in the first half of 2025, pending approval.
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