Stock Roundup: InspireMD (NYSE: NSPR)

On Tuesday, Shares of InspireMD (NYSE: NSPR) declined -2.39% to $3.27. The stock traded total volume of 42,807 shares lower than the average volume of 280.78K shares.

InspireMD, Inc. (NYSE American: NSPR), developer of the CGuard™ Embolic Prevention System (EPS) for the prevention of stroke caused by the treatment of carotid artery disease, recently declared results for the fourth quarter ending December 31, 2018.

Financial Results:

Overall revenue for the fourth quarter ended December 31, 2018 was $822.0K contrast to $833.0K during the same period in 2017. CGuard EPS sales increased by 16% or $95.0K contrast to the sales made in the fourth quarter ended December 31, 2017, mainly because of our continued focus on expanding in existing markets such as Russia and Germany, expanding into new geographies such as India and our transition from our prior exclusive distribution partner for most of Europe to local distributors.  Total sales for the fourth quarter ended December 31, 2018 contrast to the fourth quarter ended December 31, 2017 declined because of a decrease in MGuard Prime™ EPS sales, driven mostly by doctors predominantly using drug-eluting coronary stents rather than bare metal stents such as MGuard Prime EPS in patients with coronary artery disease. The Company’s gross profit for the quarter ended December 31, 2018 was $227.0K contrast to $210.0K for the same period in 2017. Gross margin increased to 27.6% in the three months ended December 31, 2018 from 25.2% in the same period in 2017.

Total operating expenses for the quarter ended December 31, 2018 were $2,433.0K, a boost of 46.6%, and contrast to $1,660.0K for the same period in 2017. This increase was mainly because of a boost in salary expenses, mainly because of a salary related accrual adjustment which reduced our salary expenses in 2017, and a boost in clinical expenses associated with CGuard™ EPS, mainly related to IDE efforts in 2018. Financial expenses for the quarter ended December 31, 2018 were $7.0K contrast to $24.0K for the same period in 2017. Net loss for the quarter ended December 31, 2018 totaled $2,213.0K, or $0.05 per basic and diluted share, contrast to a net loss of $1,500.0K, or $7.38 per basic and diluted share, for the same period in 2017.

Revenue for the twelve months ended December 31, 2018 was $3,601.0K contrast to $2,761.0K for the same period in 2017. The increase was mainly because of a boost in sales of CGuard™ EPS as a result of our transition from our prior exclusive distribution partner for most of Europe to local distributors, continued focus on expanding existing markets such as Germany, Russia, Spain and Italy, and expansion into new geographies such as India.  The Company’s gross profit for the twelve months ended December 31, 2018 was $995.0K contrast to $585.0K for the same period in 2017. Gross margin increased to 27.6% in the twelve months ended December 31, 2018 from 21.2% in the same period in 2017, driven mainly by higher volume of sales and more efficient utilization of fixed manufacturing resources.

Total operating expenses for the twelve months ended December 31, 2018 were $8,606.0K, a decrease of 2.4% contrast to $8,817.0K for the same period in 2017. This decrease was mainly because of a decrease in share-based compensation expenses and a decrease in salary expenses, mainly because of a salary related accrual in 2017. These decreases were partially offset by a boost in quality assurance and regulatory expenses related to annual audit activities which included validation reviews required every two years and a boost in clinical expenses associated with CGuard™ EPS that we cited earlier. Financial income for the twelve months ended December 31, 2018 was $371.0K contrast to $179.0K of financial expenses for the same period in 2017, mostly because of non-cash income associated with preferred stock. Net loss for the twelve months ended December 31, 2018 totaled $7,240.0K, or $0.33 per basic and diluted share, contrast to a net loss of $8,438.0K, or $34.98 per basic and diluted share, for the same period in 2017.

As of December 31, 2018, cash and cash equivalents were $9,384.0K, contrast to $3,710.0K as of December 31, 2017.

NSPR has the market capitalization of $4.51M. The return on assets ratio of the Company was -74.40% while its return on investment ratio stands at -86.50%. Price to sales ratio was 1.25 while 3.60% of the stock was owned by institutional investors.

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