InspireMD Reports Second Quarter 2023 Financial Results and Provides Business Update - Completed transformational private placement for up to $113.6 million, including $42.2 million upfront - - Completed enrollment in th

Reports Second Quarter 2023 Financial Results and Provides

Completed transformational private placement for up to $113.6 million, including $42.2 million upfront -

Completed enrollment in the C-Guardians US IDE trial; on track to announce primary and secondary endpoints and, if successful, submit

PMA application in H2 2024 -

Generated Q2 2023 CGuard EPS revenue of $1.6 million, an increase of nearly 10% over Q2 2022 -

to host investor conference call today, August 8, at 8:30am ET

Aviv, Israel, and Miami, FL - August 8, 2023 - InspireMD, Inc. (Nasdaq: NSPR), developer of the CGuard Embolic

Prevention Stent System (EPS) for treatment of carotid artery disease and prevention of stroke today announced financial and operating

results for the second quarter ended June 30, 2023.

Quarter 2023 and Recent Developments:

Slosman, CEO of InspireMD, commented: "Our second quarter was marked by several transformational milestones for our business,

including the financing of up to $113.6 million that we announced in May. This capital allows us to advance our business towards multiple

value-creating milestones, including obtaining potential regulatory approval of and launching our CGuard stent system in the U.S., initiating

regulatory pathways for new advanced indications for CGuard, and developing new products, while at the same time continuing to grow our

business in approved markets outside of the United States.

also announced completion of enrollment in our C-Guardians IDE trial, which includes the first ever cases performed with our CGuard Prime

CAS stent delivery platform that we also plan to include in our regulatory submissions. Importantly, enrollment was completed efficiently

in under 24 months and gives us line of sight to results and, if successful, a PMA submission in the second half of next year. In parallel,

we continue to advance critical pre-commercial activities in the U.S. with the goal of launching CGuard Prime in the first half of 2025,

ongoing shift toward an endovascular standard of care with both CAS and TCAR, highlighted by the current CMS proposed decision memo to

expand reimbursement for CAS, further validates our strategic direction. We are striving to serve all physician specialties that treat

carotid disease, both CAS and TCAR, with our best-in-class CGuard EPS implant. We believe we are optimally positioned to make the CGuard

EPS stent system the standard of care, not only in the U.S. but globally," Mr. Slosman concluded.

Results for the Second Quarter ended June 30, 2023

the three months ended June 30, 2023, revenue increased by $118,000, or 7.7%, to $1,649,000, from $1,531,000 during the three months

ended June 30, 2022. This increase was predominantly driven by a 9.6% increase in sales of CGuard EPS from $1,505,000 during the three

months ended June 30, 2022, to $1,649,000 during the three months ended June 30, 2023.

the three months ended June 30, 2023, gross profit (revenue less cost of revenues) increased by $60,000, or 14.0%, to $491,000, from

$431,000 during the three months ended June 30, 2022. This increase in gross profit resulted from a $90,000 increase in revenues (as

mentioned above), less the associated related material and labor offset by $30,000 in miscellaneous expenses. Gross margin (gross profits

as a percentage of revenue) increased to 29.8% during the three months ended June 30, 2023, from 28.1% during the three months ended

June 30, 2022, driven by the factors mentioned above.

operating expenses for the second quarter of 2023, were $5,806,000, an increase of $694,000 or 13.6% compared to $5,122,000 for the second

quarter of 2022. This increase was primarily due to an increase in compensation expenses.

loss for the second quarter of 2023 totaled $5,077,000 or $0.24 per basic and diluted share, compared to a net loss of $4,636,000, or

$0.59 per basic and diluted share, for the same period in 2022.

of June 30, 2023, cash, cash equivalents and short-term investments and bank deposits were $47.0 million compared to $17.8 million as

of December 31, 2022. This includes the initial net funding of $37.5 million received upon closing of the transformational private placement

that was announced in May, after deducting transaction expenses.

Results for the Six Months ended June 30, 2023

the six months ended June 30, 2023, revenue increased by $174,000, or 6.4%, to $2,888,000, from $2,714,000 during the six months ended

June 30, 2022. This increase was predominantly driven by a 8.3% increase in sales volume of CGuard EPS from $2,666,000 during the six

months ended June 30, 2022, to $2,888,000 during the six months ended June 30, 2023.

the six months ended June 30, 2023, gross profit (revenue less cost of revenues) increased by 56.2%, or $311,000, to $864,000, compared

to a $553,000 for the same period in 2022. This increase in gross profit resulted from a decrease in write-offs of $181,000 and a $161,000

increase in revenues (as mentioned above) less the associated related material and labor costs. This increase was partially offset by

an increase of $31,000 in miscellaneous expenses. Gross margin (gross profits as a percentage of revenue) increased to 29.9% during the

six months ended June 30, 2023, from 20.4% during the six months ended June 30, 2022, driven by the reasons mentioned above.

operating expenses for the six months ended June 30, 2023, were $10,560,000, an increase of $840,000, or 8.6% compared to $9,720,000

for the six months ended June 30, 2022. This increase was primarily due to an increase in compensation and other general and administrative

loss for the six months ended June 30, 2023 totaled $9,333,000, or $0.64 per basic and diluted share, compared to a net loss of $9,117,000,

or $1.17 per basic and diluted share, for the six months ended June 30, 2022.

Call and Webcast Details

will host a conference call today, Tuesday, August 8, at 8:30 AM ET, to review financial results and provide an update on corporate developments.

Following management's formal remarks, there will be a question-and-answer session.

August 8th, at 8:30 a.m. ET

seeks to utilize its proprietary MicroNet technology to make its products the industry standard for carotid stenting by providing

outstanding acute results and durable, stroke-free, long-term outcomes. InspireMD's common stock is quoted on the Nasdaq under

the ticker symbol NSPR.

routinely post information that may be important to investors on our website. For more information, please visit www.inspiremd.com.

press release contains "forward-looking statements." Forward-looking statements include, but are not limited to, statements

regarding InspireMD or its management team's expectations, hopes, beliefs, intentions or strategies regarding the future. Such

statements may be preceded by the words "intends," "may," "will," "plans," "expects,"

"anticipates," "projects," "predicts," "estimates," "aims," "believes,"

"hopes," "potential", "scheduled" or similar words. Forward-looking statements are not guarantees

of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of

which are beyond the company's control, and cannot be predicted or quantified and consequently, actual results may differ materially

from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and

uncertainties associated with our history of recurring losses and negative cash flows from operating activities, significant future commitments

and the uncertainty regarding the adequacy of our liquidity to pursue our complete business objectives; our need to raise additional

capital to meet our business requirements in the future and such capital raising may be costly or difficult to obtain and could dilute

out stockholders' ownership interests; market acceptance of our products; an inability to secure and maintain regulatory approvals

for the sale of our products; negative clinical trial results or lengthy product delays in key markets; our ability to maintain compliance

with the Nasdaq listing standards; our ability to generate revenues from our products and obtain and maintain regulatory approvals for

our products; our ability to adequately protect our intellectual property; our dependence on a single manufacturing facility and our

ability to comply with stringent manufacturing quality standards and to increase production as necessary; the risk that the data collected

from our current and planned clinical trials may not be sufficient to demonstrate that our technology is an attractive alternative to

other procedures and products; intense competition in our industry, with competitors having substantially greater financial, technological,

research and development, regulatory and clinical, manufacturing, marketing and sales, distribution and personnel resources than we do;

entry of new competitors and products and potential technological obsolescence of our products; inability to carry out research, development

and commercialization plans; loss of a key customer or supplier; technical problems with our research and products and potential product

liability claims; product malfunctions; price increases for supplies and components; insufficient or inadequate reimbursement by governmental

and other third-party payers for our products; our efforts to successfully obtain and maintain intellectual property protection covering

our products, which may not be successful; adverse federal, state and local government regulation, in the United States, Europe or Israel

and other foreign jurisdictions; the fact that we conduct business in multiple foreign jurisdictions, exposing us to foreign currency

exchange rate fluctuations, logistical and communications challenges, burdens and costs of compliance with foreign laws and political

and economic instability in each jurisdiction; the escalation of hostilities in Israel, which could impair our ability to manufacture

our products; and current or future unfavorable economic and market conditions and adverse developments with respect to financial institutions

and associated liquidity risk. More detailed information about the Company and the risk factors that may affect the realization of forward-looking

statements is set forth in the Company's filings with the Securities and Exchange Commission (SEC), including the Company's

Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free

of charge on the SEC's web site at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking

statements as a result of new information, future events or otherwise.

Padala, Managing Director