12:35 PM EDT, 08/07/2024 (MT Newswires) -- (Updates with the latest stock movement in the headline and first paragraph.)

Inspire Medical Systems ( INSP ) shares surged nearly 27% in recent Wednesday trading, a day after the company reported better Q2 results and increased full-year 2024 guidance.

The company reported Q2 earnings late Tuesday of $0.32 per diluted share, compared with a net loss of $0.41 a year earlier.

Analysts polled by Capital IQ expected a loss of $0.14.

Revenue for the quarter that ended June 30 was $195.9 million, up from $151.1 million a year earlier.

Analysts surveyed by Capital IQ expected $195.9 million.

The company now expects 2024 earnings of $0.60 to $0.80 per diluted share, compared with its prior forecasts of $0.10 to $0.20. Analysts surveyed by Capital IQ expect $0.16.

The company now expects revenue for the year of $788 million to $798 million, versus its previous projection of $783 million to $793 million. Analysts polled by Capital IQ expect $790.4 million.

Price: 186.37, Change: +39.36, Percent Change: +26.77