Inspire Medical Systems Inc (INSP)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 528,223 | 341,741 | 200,115 | 97,758 | 68,407 |
| Revenue | US$ in thousands | 624,799 | 406,179 | 231,266 | 113,364 | 82,050 |
| Gross profit margin | 84.54% | 84.14% | 86.53% | 86.23% | 83.37% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $528,223K ÷ $624,799K
= 84.54%
Inspire Medical Systems Inc has exhibited a consistent and strong gross profit margin trend over the past five years. The company's gross profit margin has ranged from 83.37% in 2019 to 86.53% in 2021, demonstrating stability and a high level of profitability. The 2023 gross profit margin of 84.54% indicates that the company continues to maintain a robust level of profitability relative to its cost of goods sold. This suggests that Inspire Medical Systems Inc effectively controls its production costs and is able to generate a significant profit on each dollar of sales. Overall, the company's gross profit margin performance reflects operational efficiency and prudent cost management strategies.
Peer comparison
Dec 31, 2023