InspireMD, Inc. Segments Disclosure
NOTE 13 – SEGMENT INFORMATION
The Company has one operating and reporting segment, that develops, manufactures and markets products for the treatment of carotid artery disease and other vascular disease, including the Company’s proprietary CGuard™ stent platform. The Company’s Chief Operating Decision Maker (“CODM”), who is the CEO evaluates the Company’s performance based on its internal reporting which is consistent with the presentation in the Company’s consolidated financial statements. Accordingly, our CODM uses consolidated net loss to measure segment profit or loss, allocate resources, and assess performance.
The CODM examines, within each operational function, the employee salaries including the bonus and share based compensation. In addition, the CODM examines the clinical trials expenses within the research and development operations.
| Year ended December 31, | ||||||||
| 2025 | 2024 | |||||||
| Revenues | 8,979 | 7,009 | ||||||
| Cost of Revenues: | ||||||||
| Material and Labor | 5,200 | 4,698 | ||||||
| Other cost of revenues | 1,130 | 805 | ||||||
| Total Cost of revenues | 6,330 | 5,503 | ||||||
| Research and development (R&D) | ||||||||
| Payroll and Benefits | 4,052 | 2,858 | ||||||
| Share based compensation | 2,559 | 2,412 | ||||||
| Clinical trials | 4,488 | 3,815 | ||||||
| Other R&D | 3,904 | 4,549 | ||||||
| Total Research and development | 15,003 | 13,634 | ||||||
| Selling and marketing (S&M) | ||||||||
| Payroll and Benefits | 11,346 | 3,769 | ||||||
| Share based compensation | 1,888 | 1,025 | ||||||
| Other S&M | 3,319 | 1,275 | ||||||
| Total Selling and marketing | 16,553 | 6,069 | ||||||
| General and administrative (G&A) | ||||||||
| Payroll and Benefits | 6,650 | 4,221 | ||||||
| Share based compensation | 7,667 | 6,445 | ||||||
| Other G&A | 6,390 | 4,640 | ||||||
| Total General and administrative | 20,707 | 15,306 | ||||||
| Financial Income, net; | 891 | 1,557 | ||||||
| Tax Expenses | 63 | 59 | ||||||
| Segment net Loss | (48,786 | ) | (32,005 | ) | ||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 18, 2026 | Showing above |
| 2024 | Mar 12, 2025 | |
| 2023 | Mar 5, 2024 | |
| 2019 | Mar 10, 2020 | |
| 2018 | Feb 19, 2019 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.