Inspire Medical Systems Inc 2024年度报告

FORM 10-K (Mark One) ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the fiscal year ended December 31, 2024 TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACTOF 1934 For the transition period fromtoCommission File Number: 001-38468 Registrant's telephone number, including area code:(844) 672-4357 Securities registered pursuant to Section 12(b) of the Act: Securities registered pursuant to Section 12(g) of the Act:None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of theSecurities Act. YesNo Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act.YesNo Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d)of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that theregistrant was required to file such reports), and (2) has been subject to such filing requirements for the past90 days. YesNo Indicate by check mark whether the registrant has submitted electronically every Interactive Data File requiredto be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding12 months (or for such shorter period that the registrant was required to submit such files). YesNo Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" inRule 12b-2 of the Exchange Act. Large acceleratedfilerAccelerated filerNon-acceleratedfilerSmaller reportingcompanyEmerging growthcompany If an emerging growth company, indicate by check mark if the registrant has elected not to use the extendedtransition period for complying with any new or revised financial accounting standards provided pursuant toSection 13(a) of the Exchange Act. Indicate by check mark whether the registrant has filed a report on and attestation to its management’sassessment of the effectiveness of its internal control over financial reporting under Section 404(b) of theSarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued itsaudit report. If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financialstatements of the registrant included in the filing reflect the correction of an error to previously issued financialstatements. Indicate by check mark whether any of those error corrections are restatements that required a recoveryanalysis of incentive-based compensation received by any of the registrant’s executive officers during therelevant recovery period pursuant to §240.10D-1(b). Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).YesNo As of June 28, 2024, the last business day of the registrant's most recently completed second fiscal quarter,the aggregate market value of the registrant's common stock held by non-affiliates was approximately$3,929,568,386, based on the closing price of the registrant's common stock as reported on the New YorkStock Exchange on such date. As of February 3, 2025, the registrant had 29,669,407 shares of common stock, $0.001 par value per share,outstanding. DOCUMENTS INCORPORATED BY REFERENCE Portions of the registrant’s definitive proxy statement for its 2025 annual stockholders’ meeting, which is to befiled within 120 days of the registrant’s fiscal year ended December 31, 2024, are incorporated by referenceinto Part III of this Annual Report on Form 10-K. Table of Contents TABLE OF CONTENTS Forward-Looking StatementsSummary Risk Factors PART IItem 1.BusinessItem 1A.Risk FactorsItem 1B.Unresolved Staff CommentsItem 1C.CybersecurityItem 2.Properties Item 3.Legal Proceedings72Item 4.Mine Safety Disclosures72 PART IIItem 5.Market for Registrant's Common Equity, Related Stockholder Matters and IssuerPurchases of Equity Securities72Item 6.[Reserved]74Item 7.Management's Discussion and Analysis of Financial Condition and Results ofOperations75Item 7A.Quantitative and Qualitative Disclosures About Market Risk86Item 8.Financial Statements and Supplementary Data88Item 9.Changes in and Disagreements With Accountants on Accounting and FinancialDisclosure116Item 9A.Controls and Procedures116Item 9B.Other Information120Item 9C.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections120 Item 10.Directors, Executive Officers and Corporate Governance120Item 11.Executive Compensation120Item 12.Security Ownership of Certain Beneficial Owners and Management and RelatedStockholder Matters121Item 13.Certain Relationships and Related Transactions, and Director Independence122Item 14.Principal Accountant