Earnings release
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Inspire NEWS RELEASE Ⓡ Inspire Medical Systems , Inc. Announces First Quarter 2021 Financial Results and Updates 2021 Outlook 5/4/2021 MINNEAPOLIS , May 04 , 2021 ( GLOBE NEWSWIRE ) -- Inspire Medical Systems , Inc. ( NYSE : INSP ) ( " Inspire " ) , a medical technology company focused on the development and commercialization of innovative and minimally invasive solutions for patients with obstructive sleep apnea , today reported financial results for the quarter ended March 31 , 2021 . Recent Business Highlights • Generated revenue of $ 40.4 million in the first quarter of 2021 , an 89 % increase over the same quarter last year • Reported gross margin of 85.2 % in the first quarter of 2021 , an increase over the 84.6 % reported in the same quarter last year • Activated 47 new centers in the U.S. in the first quarter of 2021 , bringing the total to 472 U.S. medical centers implanting Inspire therapy • Created 10 new U.S. sales territories in the first quarter of 2021 , bringing the total to 117 U.S. sales territories • Received U.S. Food and Drug Administration ( " FDA " ) approval for the Inspire two - incision implant procedure , which significantly reduces the surgical procedure time and announces CE Mark approval for Europe of the two - incision implant procedure today • Received FDA approval of new physician programmer platform and commenced commercial launch • Entered into exclusive distribution agreement with Japan Lifeline Co. , Ltd ( " JLL " ) to commercialize Inspire therapy in Japan , following successful completion of reimbursement review of Inspire therapy by the Minister 1