INSP
Inspire Medical Systems, Inc.
Is INSP Halal?
Implantable neurostimulation medical devices — generally permissible activity, but the current liquidity/assets screen fails.
What You Should Know
Inspire Medical Systems' March 31, 2026 Form 10-Q reports assets of $911.376 million, no interest-bearing debt, cash of $98.932 million, short- and long-term debt securities of $300.784 million, receivables of $105.088 million and quarterly revenue of $204.583 million. Debt/assets is 0.00%, liquidity/assets is 43.86% and receivables plus cash/assets is 22.39%; liquidity exceeds the examined 33.333% limits. Investment income of $3.741 million (interest and dividends) is shown as a conservative upper bound, and no universal prohibited-revenue numerator is disclosed.
⚠️ Concerns
- •Liquidity/assets is 43.86%, above examined 33.333% limits
- •Investment income combines interest and dividends and is 1.83% of quarterly revenue as a conservative upper bound
- •Single-product and therapy-area concentration
- •Regulatory, reimbursement and physician-adoption risks
- •No universal prohibited-revenue numerator is disclosed
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-15.
0 / 911.376
399.716 / 911.376
204.02 / 911.376
3.741 / 204.583
- Financial
- Fails
- Overall
- Fails
Liquidity/assets is 43.86%, above the examined 33.333% limit; debt/assets is 0.00%, receivables-plus-cash/assets is 22.39% and investment income is 1.83% of revenue.
- Financial
- Fails
- Overall
- Fails
Liquidity/assets is 43.86%, above the examined MSCI 33.33% total-assets limit; debt and receivables-plus-cash pass.
- Financial
- Fails
- Overall
- Fails
Identifiable liquidity/assets is 43.86%, above the examined Malaysia 33% limit; this is not an official classification.
- Financial
- Not calculated
- Overall
- Fails
A licensed historical market-cap series is not stored; liquidity failure is independently documented.
Business-activity disclosure
Inspire Medical Systems develops and sells an implantable neurostimulation system for obstructive sleep apnea. Medical-device manufacturing and patient-therapy activity are generally permissible, but the filing does not provide a universal prohibited-revenue numerator.
Limitation: No universal prohibited-activity revenue numerator or scholar-specific purification percentage is disclosed; clinical, reimbursement and downstream use remain qualitative.
Purification
The filing combines interest and dividend investment income; ZakatInvest uses the $3.741 million line as a conservative upper bound and does not prescribe a fixed purification percentage.
Inputs, assumptions and primary sources
- Amounts are USD millions from Inspire Medical Systems' March 31, 2026 Form 10-Q.
- No interest-bearing debt is reported at period end; operating leases are excluded.
- Cash is $98.932 million, short- and long-term debt securities total $300.784 million, and accounts receivable, net is $105.088 million.
- First-quarter revenue is $204.583 million and investment income (interest and dividends) is $3.741 million, shown as a conservative upper bound rather than a purification prescription.
- The implantable neurostimulation medical-device business is retained as qualitative activity analysis; no universal prohibited-revenue numerator is disclosed.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
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