InspireMD Inc. (NASDAQ:NSPR) Q1 2024 Results Conference Call May 14, 2024 8:30 AM ET

Company Participants

Chuck Padala - Managing Director
Marvin Slosman - President, CEO & Director
Craig Shore - CFO, Chief Administrative Officer, Secretary & Treasurer

Conference Call Participants

Adam Maeder - Piper Sandler

Operator

Greetings, and welcome to the InspireMD First Quarter 2024 Earnings Call. At this time, all participants are in a listen-only mode. A brief question and answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.

It is now my pleasure to introduce your host, Chuck Padala. Thank you, sir. You may begin.

Chuck Padala

Thank you, operator, and good morning, everyone. Thank you for joining us for the InspireMD first quarter financial results and corporate update conference call. Joining us today from InspireMD are CEO, Marvin Slosman and CFO, Craig Shore.

During this call, management will be making forward-looking statements, not historical facts, which are based upon management's current expectations, beliefs and projections, many of which, by their nature, are inherently uncertain. These forward-looking statements involve risks and uncertainties that may cause actual results to differ materially from those expressed in such 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 or any updates at our corporate reports on Form 8-K 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.

This call contains time-sensitive information that is accurate only as of today, Tuesday, May 14, 2024. 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 CEO of Marvin Slosman. Go ahead, Marvin, please.

Marvin Slosman

Thank you, Chuck, and thanks to everyone for joining our call this morning. I'm pleased to report that during the first quarter of 2024, we were able to sustain momentum with which we exited 2023 as we advance toward our mission to be a leader in the carotid revascularization market with our best-in-class CGuard carotid stent platform.

Craig will cover the financials shortly, but I wanted to touch on a few highlights from our first quarter performance. We generated total CGuard revenue of $1.5 million, representing growth of nearly 22% over $1.2 million that we reported in the first quarter of 2023. With our formal recertification under MDR now granted, we've derisked this topic and removed uncertainty in our ability to continue to sell in EU certified countries while also enabling our product development pipeline provided under MDR as we continue to build our US markets in parallel with our growing U.S. focus.