The EPS beat is overshadowed by the recall's financial damage and rapid cash burn. Monitor the upcoming FDA decisions on the CGuard Prime 80 cm and original CGuard platforms, which are critical catalysts for a U.S. re-entry. The cost-savings plan is a positive step, but without a near-term revenue catalyst, the company may need to raise capital within the next 12 months, likely causing dilution.
Price Chart
Executive Summary
InspireMD reported Q2 2026 revenue of $1.77M, essentially flat YoY, and a net loss of $0.17 per share, beating consensus estimates of -$0.19. The quarter was heavily impacted by a voluntary U.S. recall of its CGuard Prime 135 cm delivery system, which generated $734K in customer credits and a $612K inventory impairment, driving a gross loss. The company initiated a cost-savings plan expected to generate ~$9M in annual savings and is progressing with FDA submissions for its CGuard Prime 80 cm and original CGuard platforms, with decisions anticipated later this year. Despite the EPS beat, the recall and cash burn rate of ~$24M in H1 2026 raise concerns about near-term liquidity and operational stability for this $46M market cap company.
Key Financial Metrics
Key Facts
- Q2 2026 revenue was $1.77M, down 0.4% YoY from $1.78M.
- Net loss per share was -$0.17, beating consensus of -$0.19 (14.3% beat).
- U.S. revenue was negative -$351K due to $734K in customer credits from a voluntary recall of the CGuard Prime 135 cm delivery system.
- International revenue grew 21% YoY to $2.12M.
- Gross loss was $774K vs. gross profit of $313K in Q2 2025, driven by $612K inventory impairment and $734K revenue credits.
- Total operating expenses rose 2.5% YoY to $13.67M.
- Cash and marketable securities fell to $30.4M from $54.2M at year-end 2025, a burn of ~$23.8M in six months.
- Company initiated cost-savings actions expected to generate ~$9M in annual savings.
- FDA decisions on CGuard Prime 80 cm for TCAR and original CGuard platform are anticipated later this year.
- Design modifications for the recalled CGuard Prime 135 cm delivery system are undergoing testing, with FDA submission expected before year-end.
Financial Impact
Q2 revenue flat at $1.77M; gross loss of $774K vs. prior-year gross profit of $313K; net loss of $14.3M; cash burn of ~$23.8M in H1 2026; cost savings target of ~$9M annually.
Risk Factors
- Voluntary recall of CGuard Prime 135 cm delivery system may lead to further costs, lost sales, and regulatory actions.
- Cash burn rate of ~$24M in H1 2026 suggests potential need for dilutive capital raise within the next year.
- FDA decisions on CGuard Prime 80 cm and original CGuard platforms are uncertain and could be delayed.
- Company has a history of losses and negative cash flows, with substantial doubt about ability to continue as a going concern.
- Competition in the carotid stenting market from larger, better-capitalized players.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3345979 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 21, 2026 5w ago | 8-K | $0.7500 $0.6895 | ▼ −8.07% | ▼ −7.05% | $0.4680 (−37.60%) |
Sep 21, 2026 5w ago | Press Release | $0.7500 $0.6895 | ▼ −8.07% | ▼ −7.05% | $0.4680 (−37.60%) |
Aug 17, 2026 10w ago | 8-K | $0.8798 $0.8699 | ▲ +1.13% | ▼ −0.07% | $0.4680 (+46.81%) |
Aug 17, 2026 10w ago | Press Release | $0.8798 $0.8699 | ▲ +1.13% | ▼ −0.07% | $0.4680 (+46.81%) |
Aug 10, 2026 10w ago | Press Release | $0.8500 $0.8816 | ▲ +3.72% | ▲ +4.12% | $0.4680 (−44.94%) |
Jul 29, 2026 12w ago | 8-K | $0.6718 $0.7222 | ▲ +7.50% | ▲ +3.88% | $0.4680 (−30.34%) |
Jul 23, 2026 13w ago | 8-K | $0.6835 $0.6718 | ▲ +1.71% | ▲ +2.09% | $0.4680 (+31.53%) |
Jul 2, 2026 16w ago | 8-K | $0.6990 $0.7121 | ▲ +1.87% | ▲ +0.94% | $0.4680 (−33.05%) |
May 21, 2026 22w ago | Insider Cluster | $1.00 $0.9900 | ▼ −1.00% | ▼ −2.66% | $0.4680 (−53.20%) |
May 15, 2026 23w ago | Insider Cluster | $1.05 $0.9500 | ▼ −9.52% | ▼ −11.14% | $0.4680 (−55.43%) |
US Market Status
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