InspireMD, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>InspireMD, Inc. has filed its annual report for the fiscal year 2023, detailing its financial performance and business operations.</b>

AI Summary

InspireMD, Inc. (NSPR) filed a Annual Report (10-K) with the SEC on March 5, 2024. InspireMD, Inc. filed its 2023 Form 10-K on March 5, 2024. The filing covers the fiscal year ending December 31, 2023. The company's principal business address is in Tel Aviv, Israel. InspireMD, Inc. was formerly known as Saguaro Resources, Inc. The SIC code for InspireMD, Inc. is 3841 (Surgical & Medical Instruments & Apparatus).

Why It Matters

For investors and stakeholders tracking InspireMD, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of InspireMD's financial health, operational risks, and strategic direction for investors and stakeholders. Understanding the details within this report is crucial for assessing the company's performance in the medical device sector and its future prospects.

Risk Assessment

Risk Level: medium — InspireMD, Inc. shows moderate risk based on this filing. The company operates in the medical device industry, which is subject to significant regulatory scrutiny and rapid technological advancements, posing inherent risks to its market position and financial stability.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to assess InspireMD's operational performance and future growth potential.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting period)
• 2024-03-05 — Filing Date (Date of submission)
• 3841 — SIC Code (Industry classification)

Key Players & Entities

• InspireMD, Inc. (company) — Filer name
• Saguaro Resources, Inc. (company) — Former company name
• 3841 (other) — Standard Industrial Classification code
• Tel Aviv (other) — Business address city
• 2023-12-31 (date) — Fiscal year end
• 2024-03-05 (date) — Filing date

FAQ

Risk Factors

• Geographic Concentration Risk [medium — market]: Sales in Russia and Belarus represent a concentration risk for the company.

Industry Context

InspireMD, Inc. operates in the surgical and medical instruments and apparatus industry.

Regulatory Implications

The company is subject to SEC regulations for public filings, including the annual 10-K report.

What Investors Should Do

1. Analyze the financial statements within the 10-K for revenue, net income, and cash flow trends.
2. Review the risk factors section for potential challenges and uncertainties facing the company.
3. Assess management's discussion and analysis (MD&A) for insights into strategic priorities and outlook.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K filing.
• 2024-03-05: Filing Date — Date InspireMD, Inc. submitted its 10-K to the SEC.

Year-Over-Year Comparison

This is the initial 10-K filing for InspireMD, Inc. for the fiscal year 2023, following its transition from its former name and structure.

Key Financial Figures

• $0.0001 — ch registered Common Stock, par value $0.0001 per share NSPR Nasdaq Capital Marke
• $1.3 billion — em and SwitchGuard NPS is approximately $1.3 billion (source: Health Research International
• $9.3 b — and SwitchGuard NPS to be approximately $9.3 billion, which may grow over time if expa
• $1.6327 — he "Warrants"), at an offering price of $1.6327 per Private Placement Share and associa
• $1.6326 — iated Warrants and an offering price of $1.6326 per Pre-Funded Warrant and associated W
• $1.3827 — e upon issuance at an exercise price of $1.3827 per share, subject to adjustment as set
• $2.4 m — te Placement Offering, or approximately $2.4 million, and legal expenses of $41,600. I
• $41,600 — ely $2.4 million, and legal expenses of $41,600. In addition, we paid Piper Sandler & C
• $1.5 m — ndler & Co. a financial advisory fee of $1.5 million, AGP/Alliance Global Partners a f
• $250,000 — al Partners a financial advisory fee of $250,000 and lead investor counsel expenses of $
• $125,000 — 0 and lead investor counsel expenses of $125,000. -6- Our Industry Carotid Carot

Filing Documents

• form10-k.htm (10-K) — 1854KB
• ex4-1.htm (EX-4.1) — 65KB
• ex10-62.htm (EX-10.62) — 10KB
• ex23-1.htm (EX-23.1) — 3KB
• ex31-1.htm (EX-31.1) — 20KB
• ex31-2.htm (EX-31.2) — 21KB
• ex32-1.htm (EX-32.1) — 10KB
• ex32-2.htm (EX-32.2) — 9KB
• ex97-1.htm (EX-97.1) — 80KB
• form10-k_001.jpg (GRAPHIC) — 4KB
• ex10-62_001.jpg (GRAPHIC) — 377KB
• ex10-62_002.jpg (GRAPHIC) — 436KB
• ex10-62_003.jpg (GRAPHIC) — 69KB
• 0001493152-24-008850.txt (&nbsp;) — 8279KB
• nspr-20231231.xsd (EX-101.SCH) — 50KB
• nspr-20231231_cal.xml (EX-101.CAL) — 67KB
• nspr-20231231_def.xml (EX-101.DEF) — 194KB
• nspr-20231231_lab.xml (EX-101.LAB) — 387KB
• nspr-20231231_pre.xml (EX-101.PRE) — 316KB
• form10-k_htm.xml (XML) — 912KB

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations. 59 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk. 66 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data. 66 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure. 66 Item 9A.

Controls and Procedures

Controls and Procedures. 66 Item 9B. Other Information. 67 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 67 PART III 67 Item 10. Directors, Executive Officers and Corporate Governance. 67 Item 11.

Executive Compensation

Executive Compensation. 67 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters. 67 Item 13. Certain Relationships and Related Transactions, and Director Independence. 68 Item 14. Principal Accounting Fees and Services. 68 PART IV 68 Item 15. Exhibits and Financial Statement Schedules. 68 -2- SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K contains "forward-looking statements," which include information relating to future events, future financial performance, strategies, expectations, competitive environment and regulation, including, revenue growth. Words such as "may," "will," "should," "could," "would," "predicts," "potential," "continue," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," and similar expressions, as well as statements in future tense, identify forward-looking indications of when such performance or results will be achieved. Forward-looking statements are based on information we have when those and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking our history of recurring losses and negative cash flows from operating activities, significant future commitments and the uncertainty regarding the adequacy of our liquidity to pursue our complete business objectives; our need to raise additional capital to meet our business requirements in the future and such capital raising may be costly or difficult to obtain and could dilute out stockholders' ownership interests; market acceptance of our produc

View Full Filing

View this 10-K filing on SEC EDGAR