InspireMD Reports Third Quarter 2023 Financial Results and Provides Business Update - Presented positive 30-day follow-up results from the C-GUARDIANS U.S. Investigational Device Exemption (IDE) clinical trial demonstrat

Reports Third Quarter 2023 Financial Results and Provides

Presented positive 30-day follow-up results from the C-GUARDIANS U.S. Investigational Device Exemption (IDE) clinical trial demonstrating

an overall major adverse events rate (DSMI) of 0.95% from procedure through 30 days at the Vascular InterVentional Advances Annual

Announced support for CMS' final decision expanding coverage of CAS to include both asymptomatic and standard risk patients, significantly

expanding the U.S. CAS addressable market -

Generated Q3 2023 CGuard EPS revenue of $1.56 million, an increase of nearly 9% over Q3 2022 -

to host investor conference call today, November 6th, at 8:30am ET

Aviv, Israel, and Miami, FL - November 6, 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 results and

business updates for the third quarter ended September 30, 2023.

Quarter 2023 and Recent Developments:

Slosman, CEO of InspireMD, commented: "During the third quarter, we continued to grow revenue in our served markets outside

the U.S., generating nearly 9% year-over-year revenue growth, while continuing our post-enrollment work toward a potential approval and

launch of CGuard EPS in the U.S. in the first half of 2025.

previously announced, we were pleased to have presented very compelling 30-day safety data from C-GUARDIANS at VIVA23, one of the most

important gatherings of endovascular specialists in the world. The results are consistent with eight previously completed clinical studies

demonstrating extremely low rates of complications - death, stroke or myocardial infarction - as compared to historical data

on competing first generation stents as well as conventional surgery (carotid endarterectomy, or CEA). The data emerging from C-GUARDIANS

adds to the vast and growing body of evidence demonstrating the outstanding short- and long-term patient outcomes facilitated by CGuard

EPS, which remains the cornerstone of our business.

to the end of the quarter, CMS issued its final National Coverage Determination (NCD), expanding coverage of CAS to include both asymptomatic

and standard risk patients, significantly expanding the U.S. CAS addressable market. As we are focused on developing products for both

CAS and TCAR approaches, we view this as very positive for our company, and a change that we believe will accelerate the ongoing shift

toward an endovascular stent first' approach for all carotid interventions from the current more invasive surgery standard

am extremely pleased by our continued execution against our 2023 objectives and the transformational tailwind provided by the CMS coverage

determination that will catalyze a stent-first approach to the treatment of carotid disease, a market we have invested to transform."

Results for the Third Quarter ended September 30, 2023

the three months ended September 30, 2023, revenue increased by $125,000, or 8.7%, to $1,556,000, from $1,431,000 during the three months

ended September 30, 2022. This increase was predominantly primarily driven by an increase in commercial sales of $166,000 of CGuard EPS

to existing geographies, offset by a $41,000 decrease in the United States as the enrollment of all patients in the C-Guardians IDE clinical

trial was completed in June 2023 and accordingly there were no further enrollments in the three months ended September 30, 2023.

the three months ended September 30, 2023, gross profit (revenue less cost of revenues) increased by $72,000, or 19.7%, to $438,000,

from $366,000 during the three months ended September 30, 2022. This increase in gross profit resulted from a $85,000 increase in revenues

less the associated related material and labor offset by $13,000 in miscellaneous expenses. Gross margin (gross profits as a percentage

of revenue) increased to 28.1% during the three months ended September 30, 2023, from 25.6% during the three months ended September 30,

2022, driven by the factors mentioned above.

operating expenses for the third quarter of 2023 were $6,077,000, an increase of $1,101,000 or 22.1% compared to $4,976,000 for the third

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

financial income for the third quarter of 2023 was $461,000, an increase of $380,000 or 469% compared to $81,000 for the third quarter

of 2022. This increase was primarily due to a $412,000 increase in interest income from investment in marketable securities, money market

funds and short-term bank deposits.

loss for the third quarter of 2023 totaled $5,178,000 or $0.15 per basic and diluted share, compared to a net loss of $4,529,000, or

$0.58 per basic and diluted share, for the same period in 2022.

of September 30, 2023, cash, cash equivalents and short-term investments and bank deposits were $43.0 million compared to $17.8 million

as of December 31, 2022.

Results for the Nine Months ended September 30, 2023

the nine months ended September 30, 2023, revenue increased by $299,000, or 7.2%, to $4,444,000, from $4,145,000 during the nine months

ended September 30, 2022. This increase was predominantly driven by a $347,000 increase in sales volume of CGuard EPS from $4,097,000

during the nine months ended September 30, 2022, to $4,444,000 during the nine months ended September 30, 2023.

the nine months ended September 30, 2023, gross profit (revenue less cost of revenues) increased by 41.7%, or $383,000, to $1,302,000,

compared to a $919,000 for the same period in 2022. This increase in gross profit resulted from a $246,000 increase in revenues less

the associated related material and labor costs and a decrease in write-offs of $199,000. This increase was partially offset by an increase

of $62,000 in miscellaneous expenses. Gross margin (gross profits as a percentage of revenue) increased to 29.3% during the nine months

ended September 30, 2023, from 22.2% during the nine months ended September 30, 2022, driven by the reasons mentioned above.

operating expenses for the nine months ended September 30, 2023, were $16,637,000, an increase of $1,941,000, or 13.2% compared to $14,696,000

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

financial income for the nine months ended September 2023, was $824,000, an increase of $693,000 or 529% compared to $131,000 for the

nine months ended September 30, 2022. This increase was primarily due to a $689,000 increase in interest income from investment in marketable

securities, money market funds and short-term bank deposits.

loss for the nine months ended September 30, 2023 totaled $14,511,000, or $0.69 per basic and diluted share, compared to a net loss of

$13,646,000, or $1.75 per basic and diluted share, for the nine months ended September 30, 2022.

Call and Webcast Details

will host a conference call today, Monday, November 6th, 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.

November 6th, 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