InspireMD Inc. (NSPR) stock prices stayed stable over the market day on August 9th 2021. Prices kept steady at USD$3.99 at the end of the trading day. Subsequent premarket fluctuations have seen the stock surge by 9.77%, bringing it up to USD$4.38.
NSPR Stock’s Revenue Reports
The second quarter of 2021, ended June 30th 2021, saw NSPR stock report revenue in the amount of USD$1.038 million. This is a 231.6% increase from the USD$313,000 reported in revenue for the prior year quarter, ended June 30th 2020. This year-over-year increase was largely driven by a 276% increase in sales volume of CGuard EPS. Sales rose from USD$271,000 in the 2020 quarter to USD$1.019 million in the second quarter of 2021.
Recovery of CGuard EPS
The sales increase was largely motivated by the return of CGuard EPS procedures to normal levels as compared to the levels reported for Q2 2020. CGuard EPS is generally scheduled for non-emergency cases. The 2020 quarter saw CGuard EPS procedures being postponed. This was a result of medical institutions reallocating resources towards addressing the Covid-19 outbreak.
MGuard Prime EPS Suffers
The increase in sales of CGuard EPS were partially offset by a 54.8% reduction in sales of MGuard Prime EPS. The June 2020 quarter saw the company report USD$42,000 in sales of MGuard Prime EPS, while the 2021 quarter reported USD$19,000. This year-over-year difference was largely driven by the predominant industry preferences. Current trends favor drug-eluting stents over bare metal stents such as MGuard Prime EPS in STEMI patients.
Gross Profit Reports
Gross profit for the 2021 quarter was up to USD$262,000 from the gross loss of USD$120,000 reported for the three month period ended June 30th 2020. This year-over-year increase was largely driven by a USD$237,000 increase in revenues minus related material and labor costs. Also contributing to the difference was a decrease in write-offs of USD$144,000. This was, in turn, driven by changes related to components supply issues, as well as a USD$1000 decrease in miscellaneous expenses for the 2021 quarter.
Future Outlook for NSPR Stock
Armed with the massive success of its financial reports for Q2 2021, NSPR stock is poised to capitalize on its recent success. The company is keen to continue the trajectory of its success into the upcoming quarters. This will be facilitated by the global economy continuing to return to normal. Investors are hopeful that management will execute their strategies effectively, so as to ensure maximum gains in shareholder value.
