InspireMD, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>InspireMD, Inc. has filed its Q1 2024 10-Q report, detailing its financial position and operations.</b>

AI Summary

InspireMD, Inc. (NSPR) filed a Quarterly Report (10-Q) with the SEC on May 13, 2024. InspireMD, Inc. filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. The company's former name was Saguaro Resources, Inc., with a name change on April 28, 2008. The company is incorporated in Delaware. InspireMD, Inc. is in the Surgical & Medical Instruments & Apparatus industry (SIC code 3841).

Why It Matters

For investors and stakeholders tracking InspireMD, Inc., this filing contains several important signals. This 10-Q filing provides investors with the latest quarterly financial performance and operational updates for InspireMD, Inc. Understanding the details within this report is crucial for assessing the company's current financial health and future prospects in the medical device sector.

Risk Assessment

Risk Level: low — InspireMD, Inc. shows low risk based on this filing. The filing is a standard 10-Q report, which typically contains routine financial information and does not indicate any immediate or significant risks beyond normal business operations.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-Q to understand InspireMD's Q1 2024 performance and outlook.

Key Numbers

• 2024-03-31 — Period End Date (Quarterly report period)
• 2024-05-13 — Filing Date (Date the report was submitted)
• 2024-01-01 — Quarter Start Date (Beginning of the reporting quarter)
• 2023-12-31 — Previous Year End Date (End of the previous fiscal year)

Key Players & Entities

• InspireMD, Inc. (company) — Filer and subject of the report
• Saguaro Resources, Inc. (company) — Former name of InspireMD, Inc.
• 2024-03-31 (date) — Period of report
• 2024-05-13 (date) — Filing date
• Delaware (jurisdiction) — State of incorporation
• 3841 (sic_code) — Standard Industrial Classification for Surgical & Medical Instruments & Apparatus

FAQ

Industry Context

InspireMD, Inc. operates in the medical device sector, specifically in surgical and medical instruments and apparatus.

Regulatory Implications

Companies in the medical device industry are subject to regulatory oversight from bodies like the FDA in the US, impacting product development, manufacturing, and marketing.

What Investors Should Do

1. Analyze the financial statements for revenue, expenses, and profitability in Q1 2024.
2. Review the Management's Discussion and Analysis (MD&A) section for insights into operational performance and future outlook.
3. Check for any new risk factors or updates to existing ones disclosed in the filing.

Key Dates

• 2024-03-31: Quarter End Date — Marks the end of the reporting period for the 10-Q filing.
• 2024-05-13: Filing Date — Date InspireMD, Inc. submitted its 10-Q to the SEC.

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC). (Provides investors with an update on the company's financial condition between annual reports.)

Fiscal Year End

The last day of a company's fiscal year. (Helps in understanding the timing of financial reporting cycles.)

Year-Over-Year Comparison

This is the first 10-Q filing for the fiscal year 2024, providing an update from the previous year's filings.

Key Financial Figures

• $0.0001 — ch registered Common Stock, par value $0.0001 per share NSPR Nasdaq Capital Mark
• $1 thousand — 643 * Represents an amount less than $1 thousand The accompanying notes are an integra

Filing Documents

• form10-q.htm (10-Q) — 567KB
• ex31-1.htm (EX-31.1) — 19KB
• ex31-2.htm (EX-31.2) — 19KB
• ex32-1.htm (EX-32.1) — 7KB
• ex32-2.htm (EX-32.2) — 7KB
• 0001493152-24-018889.txt (&nbsp;) — 3303KB
• nspr-20240331.xsd (EX-101.SCH) — 27KB
• nspr-20240331_cal.xml (EX-101.CAL) — 43KB
• nspr-20240331_def.xml (EX-101.DEF) — 91KB
• nspr-20240331_lab.xml (EX-101.LAB) — 263KB
• nspr-20240331_pre.xml (EX-101.PRE) — 204KB
• form10-q_htm.xml (XML) — 355KB

Financial Statements

Financial Statements F-1 Item 2.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 3 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 8 Item 4.

Controls and Procedures

Controls and Procedures 8 PART II Item 1.

Legal Proceedings

Legal Proceedings 9 Item 1A.

Risk Factors

Risk Factors 9 Item 5. Other Information 10 Item 6. Exhibits 11 2 Item 1. Financial Statements INSPIREMD, INC. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS AS OF AND FOR THE QUARTER ENDED MARCH 31, 2024 TABLE OF CONTENTS Page CONSOLIDATED FINANCIAL Consolidated Balance Sheets F-2 - F-3 Consolidated Statements of Operations F-4 Consolidated Statements of Changes in Equity F-5 Consolidated Statements of Cash Flows F-7 Notes to the Consolidated Financial Statements F-8 - F-14 F-1 INSPIREMD, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (U.S. dollars in thousands) March 31 2024 December 31 2023 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 9,389 $ 9,640 Marketable securities 24,561 29,383 Accounts receivable: Trade, net 1,187 1,804 Other 483 648 Prepaid expenses 531 578 Inventory 2,360 2,106 TOTAL CURRENT ASSETS 38,511 44,159 NON-CURRENT ASSETS: Property, plant and equipment, net 1,186 1,060 Operating lease right of use assets 1,366 1,473 Fund in respect of employee rights upon retirement 965 951 TOTAL NON-CURRENT ASSETS 3,517 3,484 TOTAL ASSETS $ 42,028 $ 47,643 F-2 INSPIREMD, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (U.S. dollars in thousands other than share and per share data) March 31 2024 December 31 2023 LIABILITIES AND EQUITY CURRENT LIABILITIES: Accounts payable and accruals: Trade 659 939 Other 4,218 5,081 TOTAL CURRENT LIABILITIES 4,877 6,020 LONG-TERM LIABILITIES- Operating lease liabilities 914 1,038 Liability for employees rights upon retirement 1,150 1,084 TOTAL LONG-TERM LIABILITIES 2,064 2,122 COMMITMENTS AND CONTINGENT LIABILITIES - - TOTAL LIABILITIES 6,941 8,142 EQUITY: Common stock, par value $ 0.0001 per share; 150,000,000 shares authorized at March 31, 2024 and December 31, 2023; 23,412,385 and 21,841,215 shares issued and outstanding at March

financial statements

financial statements. Recently issued accounting pronouncement, not yet adopted 1) In November 2023, the FASB issued ASU 2023-07 "Segment Reporting: Improvements to Reportable Segment Disclosures". This guidance expands public entities segment disclosures primarily by requiring disclosure of significant segment expenses that are regularly provided to the chief operating decision maker and included within each reported measure of segment profit or loss, an amount and description of its composition for other segment items, and interim disclosures of a reportable segment's profit or loss and assets. Public entities with a single reportable segment are required to provide the new disclosures and all the disclosures required under Accounting Standards Codification ("ASC") 280. The guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The amendments are required to be applied retrospectively to all prior periods presented in an entity's financial statements. The Company is currently evaluating this guidance to determine the impact it may have on its consolidated financial statements related disclosures. 2) In December 2023, the FASB issued ASU 2023-09 "Income Taxes (Topic 740): Improvements to Income Tax Disclosures". This guidance is intended to enhance the transparency and decision-usefulness of income tax disclosures. The amendments in ASU 2023-09 address investor requests for enhanced income tax information primarily through changes to disclosure regarding rate reconciliation and income taxes paid both in the U.S. and in foreign jurisdictions. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024 on a prospective basis, with the option to apply the standard retrospectively. Early adoption is permitted. The Company is currently evaluating this guidance to determine the impact it may have on its consolidated financia

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View this 10-Q filing on SEC EDGAR