Inspire Medical Systems Inc at JPMorgan Healthcare Conference Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Robert Justin Marcus - JPMorgan Chase & Co, Research Division - Analyst : Well, good. Maybe we could start with the news that came out this morning in the fourth quarter announcement. You guys beat The Street by about $20 million, another quarter and year of strong growth. So maybe you could just start out some of the trends you saw in the first quarter -- REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JANUARY 09, 2023 / 4:15PM, INSP.N - Inspire Medical Systems Inc at JPMorgan Healthcare Conference or fourth quarter with respect to Inspire. How much of it was growth from new accounts, growth from same stores? And then we can take it from there.

Question: Robert Justin Marcus - JPMorgan Chase & Co, Research Division - Analyst : So are you seeing an actual patient backlog where there is a number of -- whether it's a month, 2 months, a quarter or so of patients that are just waiting to get appointments? Or is it more just you need to diligently build out more manpower to go out there and open accounts?

Question: Robert Justin Marcus - JPMorgan Chase & Co, Research Division - Analyst : I want to ask one more question, then I'll open it up to the room here. But Rick, really impressive top line growth. We've also seen expenses come up along with that over the years. I know you're working on fourth quarter expenses. But I'm really looking more for 2023 as you think about expense growth. Is this a year we can start to see more improvement where you get more leverage with lower expense growth versus higher sales growth?

Question: Robert Justin Marcus - JPMorgan Chase & Co, Research Division - Analyst : We'll open it up for questions. Unidentified Analyst Tim, great job , great presentation. (inaudible). Is there any variability between surgeons in terms of the procedure once they're trained? Or does everybody get or all 1,000 or 2,000 doctors in the U.S. confident of that procedure? And second question is, silicon being used in medical devices. Sometimes it's been controversial. Are you looking at other (inaudible)?

Question: Robert Justin Marcus - JPMorgan Chase & Co, Research Division - Analyst : And how much time does it save?

Question: Robert Justin Marcus - JPMorgan Chase & Co, Research Division - Analyst : Maybe if we're looking out 2024, 2025, you'll have Inspire V. 2025, you're going to start to have some of the initial battery replacements coming through, potentially some competition coming to market. Leave that aside for a second. If we just think about Inspire V and replacements, I imagine you're going to continue to grow territories. How do you think about capacity in the system? It's already an area that's a little bit of a bottleneck in the system today. What is Inspire doing today to be able to prepare for more volumes in the future to accommodate them?

Question: Robert Justin Marcus - JPMorgan Chase & Co, Research Division - Analyst : Along those lines, the ASCs, the ambulatory surgical centers really helped you during COVID be able to offload procedure volumes. How should we think about ASCs and their role they'll play in future Inspire procedure growth now?

Question: Robert Justin Marcus - JPMorgan Chase & Co, Research Division - Analyst : Maybe one last question for me. International right now is a small percentage of your sales. Obviously, a lot of IPO or new companies start in the U.S. and build internationally over time as you gain more cash flow. Is there any reason this couldn't be something like a traditional medtech split,

Question: Robert Justin Marcus - JPMorgan Chase & Co, Research Division - Analyst : Well, great. We're out of time, but thanks a lot. Appreciate it.