Lucide Ledger

A filing-first public record from Lucide House.

Issue 015 | U.S. Pilot | US

NSPR

InspireMD, Inc.

Screen state: Passing Source state: Verified 10-Q | 2026-05-07 Filing currency: USD
Open Filing Back to Register Report a correction
Internal NCAV Discount 41.0%

GNNI internal NCAV discount calculation. Market context inputs are retained internally and are not displayed.

Current Assets
48,594,000USD
Total Liabilities
12,854,000USD
NCAV
35,740,000USD
Cash
11,362,000USD
NCAV per share
0.51USD/share
Evidence
10 annual | 20 quarterly

Mary filing review

Financial Statement Evidence

Deterministic observations from the frozen Mary Reason Card. They annotate filing evidence and do not determine screen inclusion.

Evaluated
12
Triggered
3
Unavailable
7
Requires inspection High NCAV Burn since the previous filing 35,740,000
Latest
35,740,0002026-03-31
Comparison
47,268,0002025-12-31
Change
-24.4%

Basis: NCAV burn since previous filing >= 10%; previous NCAV must be positive

Source periods: SEC 10-Q 2026-03-31 · 0001493152-26-021636; REPORTED_FILING 10-K 2025-12-31

Requires inspection Negative OCF -12,337,000
Latest
-12,337,0002026-03-31
Comparison
n/a
Change
n/a

Basis: latest reporting-period cash from operations < 0

Source periods: SEC 10-Q 2026-03-31 · 0001493152-26-021636

Supporting observation Current Ratio > 1.5 5.15
Latest
5.152026-03-31
Comparison
1.5
Change
n/a

Basis: current assets / current liabilities; strong if > 1.5

Source periods: SEC 10-Q 2026-03-31 · 0001493152-26-021636

7 unavailable checks — inspect missing inputs
High Debt (short-term debt + long-term debt) / ordinary equity >= 50%
Low Debt (short-term debt + long-term debt) / ordinary equity < 20%
Material 1Y Share Increase 1Y share change >= +2% using the same share-count source
NCAV Growing equivalent prior-year NCAV change >= +2%; both NCAV values must be positive
No Material 1Y Share Increase 1Y share change > -2% and <= +1% using the same share-count source
Non-Positive Equity ordinary shareholders equity <= 0
Share Count Reduced 1Y share change <= -2% using the same share-count source

Business Profile

Checklist-driven facts extracted from filing text. Missing fields stay visible in the details.

business_profile_v1

Business profile: 0 of 12 fields established by the current extractor.

Business Profile Field Details

Business Description

Missing Source

Not established by the current extractor from the selected filing context.

Revenue Model

Missing Source

Not established by the current extractor from the selected filing context.

Customers And Channels

Missing Source

Not established by the current extractor from the selected filing context.

Segments And Geography

Missing Source

Not established by the current extractor from the selected filing context.

Tangible Operations Assets

Missing Source

Not established by the current extractor from the selected filing context.

Value Chain

Missing Source

Not established by the current extractor from the selected filing context.

Competition Positioning

Missing Source

Not established by the current extractor from the selected filing context.

Business Lifecycle Cyclicality

Missing Source

Not established by the current extractor from the selected filing context.

Strategy And Capital Allocation

Missing Source

Not established by the current extractor from the selected filing context.

Management Governance Signals

Missing Source

Not established by the current extractor from the selected filing context.

Disclosed Risks

Missing Source

Not established by the current extractor from the selected filing context.

Known Unknowns

Missing Source

Not established by the current extractor from the selected filing context.

Business Profile Sources
Source Filing Date Type Status Provenance
S1 0001493152-25-021503 2025-11-10 10-Q Missing Source Data Vault | sec/cleaned/cik=0001433607/accession=0001493152-25-021503/parser=html-cleaner-v1/full.txt
Share Count & Per-Share Comparability

Data Vault has not published the normalized share-count artifact for this company.

Known Unknowns

Medium | Share Count

The current U.S. Pilot does not yet evaluate share-count trends or post-filing dilution beyond Mary's screening flags.

Low | Classification

U.S. Pilot rows are surfaced for source inspection and may still need manual business classification review.

Annual Financials

Latest annual periods, newest first. Missing cells render as n/a.

Metric
2025-12-31
10-K
USD
2024-12-31
10-K
USD
2023-12-31
10-K
USD
2022-12-31
10-K
USD
2021-12-31
10-K
USD
2020-12-31
10-K
USD
2019-12-31
10-K
USD
2018-12-31
10-K
USD
2017-12-31
10-K
USD
2016-12-31
10-K
USD
Revenue 8,979,000 7,009,000 6,205,000 5,171,000 4,495,000 2,485,000 3,721,000 3,601,000 2,761,000 1,894,000
Operating Income -49,614,000 -33,503,000 -21,143,000 -18,713,000 -14,716,000 -10,380,000 -9,816,000 -7,611,000 -8,232,000 -7,648,000
Net Income -48,786,000 -32,005,000 -19,916,000 -18,491,000 -14,918,000 -10,544,000 -10,040,000 -7,240,000 -8,438,000 -8,461,000
Cash From Operations -35,103,000 -21,868,000 -16,376,000 -15,542,000 -13,210,000 -9,081,000 -9,810,000 -7,606,000 -8,131,000 -7,495,000
Capex -1,662,000 -1,402,000 -381,000 -473,000 -344,000 -88,000 -284,000 -67,000 -258,000 -49,000
Free Cash Flow -36,765,000 -23,270,000 -16,757,000 -16,015,000 -13,554,000 -9,169,000 -10,094,000 -7,673,000 -8,389,000 -7,544,000
Cash And Equivalents 8,939,000 18,916,000 9,640,000 4,632,000 12,004,000 12,645,000 5,514,000 9,384,000 3,710,000 7,516,000
Accounts Receivable 2,168,000 1,572,000 1,804,000 1,034,000 1,224,000 476,000 823,000 716,000 643,000 356,000
Inventory 3,396,000 2,570,000 2,106,000 1,621,000 1,143,000 1,415,000 1,236,000 111,000 63,000 233,000
Total Current Assets 61,471,000 40,521,000 44,159,000 21,326,000 37,094,000 15,339,000 7,810,000 11,419,000 5,155,000 8,594,000
Total Assets 69,404,000 46,807,000 47,643,000 24,653,000 39,712,000 17,777,000 9,880,000 12,288,000 6,107,000 9,410,000
Total Current Liabilities 10,712,000 7,678,000 6,020,000 5,070,000 4,347,000 3,705,000 3,115,000 2,920,000 2,482,000 4,778,000
Total Liabilities 14,203,000 10,721,000 8,142,000 7,260,000 6,180,000 5,614,000 4,497,000 3,525,000 3,106,000 5,365,000
Shareholders Equity 55,201,000 36,086,000 39,501,000 17,393,000 33,532,000 12,163,000 5,383,000 8,763,000 2,727,000 4,045,000
Shares Outstanding 46,801,561 29,689,857 23,456,590 8,326,648 8,322,439 7,855,482 289,261 55,852 64 56
Shares Outstanding Diluted n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a
Weighted Avg Shares Diluted 64,325,810 41,928,360 24,268,181 7,871,814 7,346,022 1,512,439 139,331 30,769 14 54
Weighted Avg Shares Basic 64,325,810 41,928,360 24,268,181 7,871,814 7,346,022 1,512,439 139,331 30,769 14 54
Net Share Count Change (Normalized) Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence
Ownership Claim Change (Normalized) Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence
Quarterly Financials

Latest quarterly periods, newest first. Periods are shown only when Data Vault has them.

Metric
2026-06-30
10-Q
USD
2026-03-31
10-Q
USD
2025-12-31
10-K
USD
2025-09-30
10-Q
USD
2025-06-30
10-Q
USD
2025-03-31
10-Q
USD
2024-12-31
10-K
USD
2024-09-30
10-Q
USD
2024-06-30
10-Q
USD
2024-03-31
10-Q
USD
2023-12-31
10-K
USD
2023-09-30
10-Q
USD
2023-06-30
10-Q
USD
2023-03-31
10-Q
USD
2022-12-31
10-K
USD
2022-09-30
10-Q
USD
2022-06-30
10-Q
USD
2022-03-31
10-Q
USD
2021-12-31
10-K
USD
2021-09-30
10-Q
USD
Revenue 1,771,000 3,398,000 3,149,000 2,523,000 1,778,000 1,529,000 1,949,000 1,810,000 1,739,000 1,511,000 1,761,000 1,556,000 1,649,000 1,239,000 1,026,000 1,431,000 1,531,000 1,183,000 1,380,000 1,071,000
Operating Income -14,445,000 -13,978,000 -12,084,000 -13,051,000 -13,019,000 -11,460,000 -9,367,000 -8,462,000 -8,260,000 -7,414,000 -5,808,000 -5,639,000 -5,315,000 -4,381,000 -4,936,000 -4,610,000 -4,681,000 -4,486,000 -3,931,000 -4,031,000
Net Income -14,324,000 -13,689,000 -11,761,000 -12,708,000 -13,151,000 -11,166,000 -9,174,000 -7,890,000 -7,909,000 -7,032,000 -5,405,000 -5,178,000 -5,077,000 -4,256,000 -4,845,000 -4,529,000 -4,636,000 -4,481,000 -4,097,000 -4,071,000
Cash From Operations -10,895,000 -12,337,000 -9,345,000 -8,633,000 -8,333,000 -8,792,000 -6,750,000 -5,700,000 -4,354,000 -5,064,000 -4,177,000 -4,043,000 -3,325,000 -4,831,000 -3,195,000 -5,104,000 -3,091,000 -4,152,000 -2,901,000 -4,140,000
Capex -330,000 -194,000 -398,000 -329,000 -576,000 -359,000 -311,000 -421,000 -475,000 -195,000 -215,000 -96,000 -45,000 -25,000 -95,000 -226,000 -115,000 -37,000 -107,000 -157,000
Free Cash Flow -11,225,000 -12,531,000 -9,743,000 -8,962,000 -8,909,000 -9,151,000 -7,061,000 -6,121,000 -4,829,000 -5,259,000 -4,392,000 -4,139,000 -3,370,000 -4,856,000 -3,290,000 -5,330,000 -3,206,000 -4,189,000 -3,008,000 -4,297,000
Cash And Equivalents 15,149,000 11,362,000 8,939,000 63,403,000 11,509,000 12,383,000 18,916,000 15,818,000 28,385,000 9,389,000 9,640,000 13,839,000 11,545,000 4,228,000 4,632,000 3,934,000 6,393,000 7,798,000 12,004,000 13,059,000
Total Current Assets 36,628,000 48,594,000 61,471,000 70,391,000 25,463,000 32,144,000 40,521,000 46,394,000 51,843,000 38,511,000 44,159,000 46,728,000 50,520,000 16,703,000 21,326,000 24,692,000 29,500,000 32,632,000 37,094,000 40,091,000
Total Liabilities 13,130,000 12,854,000 14,203,000 14,358,000 13,099,000 10,327,000 10,721,000 9,130,000 8,896,000 6,941,000 8,142,000 6,763,000 6,825,000 6,495,000 7,260,000 6,191,000 7,024,000 5,467,000 6,180,000 5,543,000
Shares Outstanding 46,489,118 46,838,962 46,801,561 42,370,995 41,720,662 30,635,346 29,689,857 26,083,763 25,706,671 24,929,825 23,456,590 21,549,639 21,195,103 8,356,394 8,326,648 8,335,606 8,323,200 8,323,200 8,322,439 8,077,047
Shares Outstanding Diluted n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a
Weighted Avg Shares Diluted 84,659,943 83,801,839 82,382,955 73,466,501 51,003,900 49,993,509 49,073,824 48,369,412 35,877,926 34,242,976 33,533,900 33,984,953 21,074,187 8,093,340 8,034,545 7,838,506 7,807,795 7,804,245 7,794,533 7,739,463
Weighted Avg Shares Basic 84,659,943 83,801,839 82,382,955 73,466,501 51,003,900 49,993,509 49,073,824 48,369,412 35,877,926 34,242,976 33,533,900 33,984,953 21,074,187 8,093,340 8,034,545 7,838,506 7,807,795 7,804,245 7,794,533 7,739,463
Net Share Count Change (Normalized) Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence
Ownership Claim Change (Normalized) Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence
Audit Trail

NCAV Audit

Official-source inputs remain linked to filing provenance. Derived values are labeled as such.

Input Value Source concept Filing period Confidence Provenance
Current Assets 36,628,000USD us-gaap:AssetsCurrent 2026-06-30 1.00 Data Vault | sec/companyfacts/cik=0001433607/companyfacts.json
Data Vault | sec/companyfacts/cik=0001433607/companyfacts.json
Total Liabilities 13,130,000USD us-gaap:Liabilities 2026-06-30 1.00 Data Vault | sec/companyfacts/cik=0001433607/companyfacts.json
Data Vault | sec/companyfacts/cik=0001433607/companyfacts.json
Cash 15,149,000USD us-gaap:CashAndCashEquivalentsAtCarryingValue 2026-06-30 1.00 Data Vault | sec/companyfacts/cik=0001433607/companyfacts.json
Data Vault | sec/companyfacts/cik=0001433607/companyfacts.json
Shares Outstanding 46,489,118 dei:EntityCommonStockSharesOutstanding 2026-06-30 1.00 Data Vault | sec/companyfacts/cik=0001433607/companyfacts.json
Data Vault | sec/companyfacts/cik=0001433607/companyfacts.json
NCAV 23,498,000USD derived 2026-06-30 n/a company-evidence-v1 | total_current_assets - total_liabilities
NCAV per share 0.51USD derived 2026-06-30 n/a company-evidence-v1 | NCAV / shares_outstanding
Internal NCAV Discount 41.0% derived 2026-06-30 n/a gnni_publication_pack | internal_discount

NCAV = total_current_assets - total_liabilities | NCAV per share = NCAV / shares_outstanding

Source Provenance

Data Source
Data Vault
Data Vault Root
Local evidence | The Data Vault
CIK
0001433607
Company ID
n/a
Selected Annual Source
Data Vault | sec/companyfacts/cik=0001433607/companyfacts.json
Selected Quarterly Source
Data Vault | sec/companyfacts/cik=0001433607/companyfacts.json
Statement Extractor
companyfacts-screener-v1
View Extractor
companyfacts-screener-v1
Source Accession Count
26
Imported At
2026-11-01T11:36:28+00:00
Rendered At
2026-11-01T14:57:29+00:00

Run Audit

Mary Run
96f10914845d4a63bf1f2ca5985451b2
Mary As Of
2026-10-30
Accession
0001493152-26-021636
CIK
0001433607
Mary Filing Date
2026-05-07
Filing Currency
USD
Internal Discount
41.0%
Source State
Verified
Market Context
Not Displayed
Market Policy
internal_only_not_redistributed
Share Trend
Not Evaluated
Dilution
Needs Review

mary_run=96f10914845d4a63bf1f2ca5985451b2; mary_as_of=2026-10-30; mary_filing_date=2026-05-07; mary_accession=0001493152-26-021636; mary_cik=0001433607; gnni_supporting_filing_date=2026-05-07; internal_discount=0.410254; mary_reason=Mary's deterministic net-net screen flagged this candidate. The internal discount is shown; raw market-data fields are not published in this pilot.

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