InspireMD, Inc. (NASDAQ:NSPR) Q1 2022 Earnings Conference Call May 10, 2022 8:30 AM ET

Company Participants

Chuck Padala - Investor Relations

Marvin Slosman - Chief Executive Officer

Craig Shore - Chief Financial Officer

Conference Call Participants

Ben Haynor - Alliance Global Partners

Operator

Greetings and welcome to InspireMD First Quarter 2022 Earnings Call. [Operator Instructions] At this time, I’d like to turn the call over to your host, Chuck Padala, LifeSci Advisors. Thank you. You may begin.

Chuck Padala

Thank you, operator, and good morning, everyone. Thank you for joining us for the InspireMD first quarter 2022 financial results and corporate update conference call. Joining us today from InspireMD are Marvin Slosman, Chief Executive Officer; and Craig Shore, Chief Financial Officer.

During this call, management will be making forward-looking statements, not historical facts that are based upon management’s current expectations, beliefs and projections many of which, by their nature, are inherently uncertain. They involve risks and uncertainties that may cause actual results to differ materially from those expressed in forward-looking statements. For more information about these risks, please refer to the risk factors described in InspireMD’s most recently filed periodic reports on Form 10-K and Form 10-Q filed with the U.S. Securities and Exchange Commission and InspireMD’s press release that accompanies this call, particularly the cautionary statements made in it.

The call contains time-sensitive information that is accurate only as of today, May 10, 2022. Except as required by law, InspireMD disclaims any obligation to publicly update or revise any information to reflect events or circumstances that occur after this call. It is now my pleasure to turn the call over to Marvin Slosman, Chief Executive Officer. Go ahead, please, Marvin.

Marvin Slosman

Q1 2022 proved to be a very busy and productive quarter at InspireMD with approximately 1,910 CGuard stent systems sold to our 31 served markets, representing revenue of $1.161 million. We accelerated enrollment in our C-Guardians FDA trial, including initiating our first European site, preparing for enrollment of the first randomized cases in the CREST-2 trial, received regulatory approval for our European logistics hub, enabling our direct sales in the UK and France and prepared for expansion into more direct sales markets. We added 5 new members of our expanding global team, including seasoned sales and marketing professionals, as well as bolstering our world-class engineering department to keep pace with our expanding R&D programs and commercial growth.