NSPR InspireMD, Inc.

Overview and Growth

InspireMD, Inc. generated $8.98M of revenue in fiscal 2025, with net loss of $48.79M and an operating cash outflow of $35.10M. At $8.98M, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. Revenue was 28.1% above fiscal 2024 revenue of $7.01M, marking a year-over-year increase. The company reported diluted EPS of -$0.76, adding a shareholder-level measure to the absolute income figures considered below. The company employed $69.40M of total assets, the balance-sheet base supporting its current operating and cash-flow results. The revenue-to-assets relationship was 0.13x, showing the sales generated relative to the resources carried on the balance sheet.

Profitability

After reported cost of revenue, the company retained $2.65M as gross profit before recognizing operating expenses and other items. Gross margin was 29.5%, so that share of each revenue unit remained after the cost of revenue reported for the period. The company recorded an operating loss of $49.61M after the reported operating expense base. Relative to revenue, the operating deficit measured 552.6%, showing the shortfall after operating costs. The company ended the period with a net loss of $48.79M, extending the operating result through all remaining items. The net loss equaled 543.3% of revenue, showing the bottom-line deficit relative to the company’s sales base. EBITDA was $426.39M, adding a pre-interest, tax, depreciation, and amortization view of the company’s earnings capacity. The pretax result was a loss of $48.72M, establishing the deficit before tax effects. The pretax loss equaled 542.6% of revenue, measuring the pre-tax deficit against sales. The reported income-tax provision was $63.00K, the amount recognized between pretax income and the final net-income result. The net loss equaled 88.4% of period-end equity, showing the deficit relative to book capital. Relative to total assets, the net loss represented 70.3%. Compared with a $32.01M net loss in fiscal 2024, the current loss increased to $48.79M.

Liquidity and Capital Structure

The company held $69.40M of assets against $14.20M of liabilities and $55.20M of equity, revealing how the asset base was financed. The near-term balance sheet paired $61.47M of current assets with $10.71M of current liabilities at the reporting date. Current assets covered current liabilities by 5.74x, leaving a positive buffer for near-term obligations. Reported cash and equivalents were $8.94M, separating immediately recognizable cash resources from the rest of the current-asset base. The cash balance equaled 83.4% of current liabilities, showing how much near-term coverage came from cash alone. The equity-to-assets relationship was 79.5%, placing book capital against the total resource base. Relative to total assets, liabilities measured 20.5%, complementing the separate equity-based view of the company’s capital structure. The cash-to-assets relationship was 12.9%, comparing reported cash and equivalents with the full positive asset balance. The asset base changed 48.3% from $46.81M in fiscal 2024, leaving current total assets higher year over year. Against $36.09M of equity in fiscal 2024, the current book-equity balance moved 53.0% and ended higher. The reported cash balance changed 52.7% from $18.92M in fiscal 2024, ending lower year over year.

Cash Flow and Earnings Quality

The company reported an operating cash outflow of $35.10M, rather than cash generation from operations. Capital expenditures used $1.66M in addition to the operating cash outflow, increasing the total cash consumed by operations and investment during the period. Negative free cash flow was $36.77M, leaving a cash deficit after capital spending and reducing financial flexibility. Relative to revenue, the post-investment cash deficit represented 409.5%. The free-cash-flow deficit equaled 53.0% of total assets, placing the cash shortfall against the company’s resource base.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Sep 24, 2026.