InspireMD (NSPR) Q2 2026 earnings summary

Executive summary

• Revenue for Q2 2026 was $1.77M, nearly flat year-over-year, with international growth offset by a U.S. recall-related revenue reduction.

• Net loss for Q2 2026 increased 8.9% year-over-year to $14.3M, driven by lower gross profit and higher operating expenses.

• A voluntary recall of CGuard Prime in the U.S. led to $734K in revenue credits and $612K in inventory impairment.

• A workforce reduction initiative post-quarter-end is expected to cut operating expenses by $9M annually.

Financial highlights

• Q2 2026 revenue: $1.77M (down 0.4% year-over-year); six-month revenue: $5.17M (up 56.3% year-over-year).

• Q2 2026 gross loss: $774K (vs. $313K profit prior year); six-month gross loss: $87K (vs. $605K profit prior year).

• Q2 2026 net loss: $14.3M (vs. $13.2M prior year); six-month net loss: $28.0M (vs. $24.3M prior year).

• Cash and equivalents at June 30, 2026: $15.1M; marketable securities: $15.3M.

• Negative operating cash flow for six months: $23.2M (up 35.7% year-over-year).

Outlook and guidance

• Management expects continued losses and negative cash flows until commercial revenue scales.

• Substantial doubt exists about the ability to continue as a going concern without additional financing.

• Plans include further commercialization, capital raises, and strategic partnerships.

• Workforce reduction expected to save $9M annually, with $0.9–$1.2M in restructuring charges.