InspireMD (NSPR) 10-Q 9 May 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2017	May 09, 2017
Document And Entity Information
Entity Registrant Name	InspireMD, Inc.
Entity Central Index Key	1,433,607
Document Type	10-Q
Trading Symbol	NSPR
Document Period End Date	Mar. 31, 2017
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		7,421,846
Trading symbol	NSPR
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2,017

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
CURRENT ASSETS:
Cash and cash equivalents	$ 8,572	$ 7,516
Accounts receivable:
Trade, net	471	356
Other	189	157
Prepaid expenses	21	65
Inventory	329	500
TOTAL CURRENT ASSETS	9,582	8,594
NON-CURRENT ASSETS:
Property, plant and equipment, net	496	379
Fund in respect of employee rights upon retirement	402	399
Royalties buyout	32	38
TOTAL NON-CURRENT ASSETS	930	816
TOTAL ASSETS	10,512	9,410
CURRENT LIABILITIES:
Current maturity of long-term loan		2,680
Accounts payable and accruals:
Trade	351	618
Other	1,884	1,447
Advanced payment from customers	23	33
TOTAL CURRENT LIABILITIES	2,258	4,778
LONG-TERM LIABILITIES-
Liability for employees rights upon retirement	540	587
TOTAL LONG-TERM LIABILITIES	540	587
COMMITMENTS AND CONTINGENT LIABILITIES (Note 9)
TOTAL LIABILITIES	2,798	5,365
EQUITY:
Common stock, par value $0.0001 per share; 150,000,000 and 50,000,000 shares authorized at March 31, 2017 and December 31, 2016, respectively; 6,830,070 and 1,475,318 shares issued and outstanding at March 31, 2017 and December 31, 2016, respectively	1
Additional paid-in capital	142,186	135,959
Accumulated deficit	(134,473)	(131,914)
Total equity	7,714	4,045
Total liabilities and equity	10,512	9,410
Series B Preferred Stock [Member]
EQUITY:
Preferred shares, par value
Series C Preferred Stock [Member]
EQUITY:
Preferred shares, par value

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2017	Dec. 31, 2016
Common stock, per share	$ 0.0001	$ 0.0001
Common stock shares, authorized	150,000,000	50,000,000
Common stock shares, issued	6,830,070	1,475,318
Common stock shares, outstanding	6,830,070	1,475,318
Preferred stock shares, authorized	3,328,000
Series B Preferred Stock [Member]
Preferred stock, per share	$ 0.0001	$ 0.0001
Preferred stock shares, authorized	500,000	500,000
Preferred stock shares, issued	191,993	311,521
Preferred stock shares, outstanding	191,993	311,521
Series C Preferred Stock [Member]
Preferred stock, per share	$ 0.0001	$ 0.0001
Preferred stock shares, authorized	1,172,000	1,172,000
Preferred stock shares, issued	808,612	0
Preferred stock shares, outstanding	808,612	0

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Income Statement [Abstract]
REVENUES	$ 569	$ 563
COST OF REVENUES	495	497
GROSS PROFIT	74	66
OPERATING EXPENSES:
Research and development	350	379
Selling and marketing	532	365
General and administrative	1,596	1,352
Total operating expenses	2,478	2,096
LOSS FROM OPERATIONS	(2,404)	(2,030)
FINANCIAL EXPENSES, net:
Interest expenses	119	179
Other financial expenses	35	42
Total financial expenses	154	221
LOSS BEFORE TAX EXPENSES	(2,558)	(2,251)
TAX EXPENSES	1	1
NET LOSS	$ (2,559)	$ (2,252)
NET LOSS PER SHARE - basic and diluted	$ (0.81)	$ (7)
WEIGHTED AVERAGE NUMBER OF ORDINARY SHARES USED IN COMPUTING NET LOSS PER SHARE - basic and diluted	3,946,434	321,684

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (2,559)	$ (2,252)
Adjustments required to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	42	48
Change in liability for employees right upon retirement	(47)	(122)
Financial expenses	(488)	33
Share-based compensation expenses	263	384
Loss on amounts funded in respect of employee rights upon retirement, net		1
Changes in operating asset and liability items:
Decrease in prepaid expenses	44	13
Increase in trade receivables	(115)	(141)
Increase in other receivables	(32)	(62)
Decrease in inventory	171	242
Decrease in trade payables	(267)	(59)
Increase in other payables and advance payment from customers	230	50
Net cash used in operating activities	(2,758)	(1,865)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property, plant and equipment	(153)
Amounts (funded) gained in respect of employee rights upon retirement, net	(3)	90
Net cash provided by (used in) investing activities	(156)	90
CASH FLOWS FROM FINANCING ACTIVITIES:
Taxes withheld in respect of share issuance		(16)
Proceeds from issuance of shares and warrants, net of $issuance costs	6,162	1,520
Repayment of long-term loan	(2,179)	(988)
Net cash provided by financing activities	3,983	516
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	(13)	1
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	1,056	(1,258)
BALANCE OF CASH AND CASH EQUIVALENTS AT BEGINNING OF THE PERIOD	7,516	3,257
BALANCE OF CASH AND CASH EQUIVALENTS AT END OF THE PERIOD	8,572	1,999
SUPPLEMENTAL DISCLOSURES OF NON-CASH FINANCING ACTIVITIES:
Placement Agent Fees in connection with short term warrants, see also note 5a	107
Issuance costs	$ 90

Description of Business

Description of Business	3 Months Ended
	Mar. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	NOTE 1 - DESCRIPTION OF BUSINESS a. General InspireMD, Inc., a Delaware corporation (the “Company”), together with its subsidiaries, is a medical device company focusing on the development and commercialization of its proprietary MicroNet™ stent platform technology for the treatment of complex vascular and coronary disease. MicroNet, a micron mesh sleeve, is wrapped over a stent to provide embolic protection in stenting procedures. In October 2014, the Company launched a limited market release of its carotid embolic prevention system (CGuard™ EPS), which combines MicroNet and a self-expandable nitinol stent in a single device to treat carotid artery disease. In January 2015, a new version of CGuard, with a rapid exchange delivery system, received CE mark approval in Europe and in September 2015, the Company announced the full market launch of CGuard EPS in Europe. The Company’s coronary products combining MicroNet and a bare-metal stent (MGuard Prime™ EPS) are marketed for use in patients with acute coronary syndromes, notably acute myocardial infarction (heart attack) and saphenous vein graft coronary interventions (bypass surgery). The Company markets its products through distributors in international markets, mainly in Europe and Latin America. b. Liquidity The Company has an accumulated deficit as of March 31, 2017, as well as a history of net losses and negative operating cash flows in recent years. The Company expects to continue incurring losses and negative cash flows from operations until its products (primarily CGuard™ EPS) reach commercial profitability. As a result of these expected losses and negative cash flows from operations, along with the Company’s current cash position, the Company has sufficient resources to fund operations only for a period of up to eight months from the date of issuing these interim consolidated financial statements. Therefore, there is substantial doubt about the Company’s ability to continue as a going concern. These financial statements have been prepared assuming that the Company will continue as a going concern and do not include any adjustments that might result from the outcome of this uncertainty. Management’s plans include the continued commercialization of the Company’s products and raising capital through the sale of additional equity securities, debt or capital inflows from strategic partnerships. There are no assurances however, that the Company will be successful in obtaining the level of financing needed for its operations. If the Company is unsuccessful in commercializing its products and raising capital, it may need to reduce activities, curtail or cease operations.

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	NOTE 2 - BASIS OF PRESENTATION The accompanying unaudited consolidated financial statements have been prepared on the same basis as the annual consolidated financial statements. In the opinion of management, the financial statements reflect all adjustments, which include only normal recurring adjustments, necessary to state fairly the financial position and results of operations of the Company. These consolidated financial statements and notes thereto are unaudited and should be read in conjunction with the Company’s audited financial statements for the year ended December 31, 2016, as found in the Company’s Annual Report on Form 10-K, filed with the Securities and Exchange Commission on February 16, 2017. The results of operations for the three months ended March 31, 2017 are not necessarily indicative of results that could be expected for the entire fiscal year.

Recently Adopted and Issued Acc

Recently Adopted and Issued Accounting Pronouncements	3 Months Ended
	Mar. 31, 2017
Accounting Changes and Error Corrections [Abstract]
Recently Adopted and Issued Accounting Pronouncements	NOTE 3 – RECENTLY ADOPTED AND ISSUED ACCOUNTING PRONOUNCEMENTS 1) In May 2014, the FASB issued Accounting Standards Codification (“ASC”) 606, Revenue from contracts with customers. The objective of the new revenue standard is to provide a single, comprehensive revenue recognition model for all contracts with customers to improve comparability within industries, across industries, and across capital markets. The revenue standard contains principles that an entity will apply to determine the measurement of revenue and timing of when it is recognized. The underlying principle is that an entity will recognize revenue to depict the transfer of goods or services to customers at an amount that the entity expects to be entitled to in exchange for those goods or services, based on a five step model that includes the identification of the contract with the customer and the performance obligations in the contract, determination of the transaction price, allocation of the transaction price to the performance obligations in the contract and recognizing revenue when (or as) the entity satisfies a performance obligation. The revenue standard is effective for annual periods beginning on or after December 15, 2017. The Company expects that the adoption of this standard will not have a material impact on its consolidated financial statements. 2) On July 22, 2015, the FASB issued ASU No. 2015-11, “Simplifying the Measurement of Inventory,” which requires that inventory within the scope of the guidance be measured at the lower of cost and net realizable value. Inventory measured using last-in, first-out and the retail inventory method are not impacted by the new guidance. The new guidance will be effective for public business entities in fiscal years beginning after December 15, 2016, including interim periods within those years. Prospective application is required. The adoption of this standard did not have a material impact on the consolidated financial statements. 3) In November 2016, the FASB issued ASU 2016-18, “Statement of Cash Flows (Topic 230) Restricted Cash”. The new guidance requires that the reconciliation of the beginning-of-period and end-of-period amounts shown in the statement of cash flows include restricted cash and restricted cash equivalents. If restricted cash is presented separately from cash and cash equivalents on the balance sheet, companies will be required to reconcile the amounts presented on the statement of cash flows to the amounts on the balance sheet. Companies will also need to disclose information about the nature of the restrictions. The guidance is effective for annual and interim reporting periods beginning after December 15, 2017, and early adoption is permitted. The adoption of this standard is not expected to have a material impact on the Company’s consolidated financial statements. 4) In August 2016, the FASB issued ASU No. 2016-15 “Statement of Cash Flows Topic 230: Classification of Certain Cash Receipts and Cash Payments.” ASU No. 2016-15 issued guidance to clarify how certain cash receipts and cash payments should be presented in the statement of cash flows. ASU 2016-15 is effective for annual and interim reporting periods beginning on or after December 15, 2017 and early adoption is permitted. The adoption of this standard is not expected to have a material impact on the Company’s consolidated financial statements. 5) In January 2016, the FASB issued ASU 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities, which addresses certain aspects of recognition, measurement, presentation and disclosure of financial instruments. The new standard is effective for annual periods and interim periods beginning after December 15, 2017, and upon adoption, an entity should apply the amendments by means of a cumulative-effect adjustment to the balance sheet at the beginning of the first reporting period in which the guidance is effective. Early adoption is not permitted except for the provision to record fair value changes for financial liabilities under the fair value option resulting from instrument-specific credit risk in other comprehensive income. The Company is currently evaluating the impact of adopting this guidance. 6) In February 2016, the FASB issued ASU 2016-02, Leases, which requires to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach. The accounting standard is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption is permitted. The Company expects that the adoption of this standard will not have a material impact on its consolidated financial statements. 7) In March 2016, the FASB issued ASU 2016-09 – Improvements to Employee Share Based Payment Accounting which simplifies certain aspects of the accounting for share-based payments, including accounting for income taxes, classification of awards as either equity or liabilities, classification on the statement of cash flows as well as allowing an entity-wide accounting policy election to either estimate the number of awards that are expected to vest or account for forfeitures as they occur. This ASU is effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. The Company adopted the update during the quarter ended December 31, 2016, and has retroactively applied the guidance effective as of January 1, 2016. The Company elected to account for forfeitures as they occur rather than estimate expected forfeitures which resulted in a cumulative-effect adjustment to retained earnings as of the beginning of the comparative period, January 1, 2016, of $457,000. Certain amounts or ratios presented herein for 2016 interim periods have been adjusted to reflect the adoption of this new guidance. Adoption of this update does not affect the Company’s total equity. The following table summarizes the Company’s As Reported and As Adjusted changes to the consolidated statement of operations for the three months ended March 31, 2016: 3 Months Ended March 31, 2016 As Reported As Adjusted ($ in thousands) NET LOSS $ (2,609 ) $ (2,252 ) NET LOSS PER SHARE - $ (8.11 ) $ (7.00 )

Long-term Loan

Long-term Loan	3 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
Long-term Loan	NOTE 4 - LONG-TERM LOAN: On March 21, 2017, the Company paid the remaining balance under the Company’s Loan and Security Agreement, dated as of October 23, 2013, in consideration of $1,159,000. All liens and other security interests granted by the Company and its subsidiaries in connection with the Loan and Security Agreement were terminated upon such payment.

Equity

Equity	3 Months Ended
	Mar. 31, 2017
Equity [Abstract]
Equity	NOTE 5 - EQUITY: a. On March 14, 2017 , the Company closed a public offering of 1,069,822 shares of Series C Convertible Preferred Stock, Series B warrants to purchase up to 4,279,288 shares of common stock and Series C warrants to purchase up to 4,279,288 shares of common stock (the “March 2017 Offering”). Each share of Series C Convertible Preferred Stock and the accompanying warrants were sold at a price of $6.40. Each share of Series C Convertible Preferred Stock is convertible into 4 shares of common stock reflecting a conversion price equal to $1.60 per share. The Company received gross proceeds of approximately $6.8 million from the offering, before deducting placement agent fees payable by the Company equal to 8.0% of the gross proceeds of the offering and a solicitation fee equal to 3.0% of the proceeds from the exercise of the Series C Warrants and offering expenses payable by the Company. The holders of Series C Convertible Preferred Stock may elect to convert at anytime. The Series C Convertible Preferred Stock has certain anti-dilution provisions. The Series B warrants are exercisable immediately and have a term of exercise of five years from the date of issuance and have an exercise price of $2.00 per share of common stock. The Series C warrants are exercisable immediately and have a term of exercise of six months from the date of issuance and have an exercise price of $1.60 per share of common stock. For accounting purposes, the Company analyzed the classification of the Series C Convertible Preferred Stock, including whether the embedded conversion options should be bifurcated. As the Series C Convertible Preferred Stock is not redeemable, and the host contract was determined to be akin to equity, the entire instrument was classified as equity. The Company has also concluded that the warrants accompanying Series C Convertible Preferred Stock are classified as equity, since the warrants bear a fixed conversion ratio and all other criteria for equity classification have been met. The Company’s obligation to pay the placement agent a solicitation fee equal to 3.0% of the proceeds from the exercise of the Series C Warrants when and if the warrants will be exercised is a financial liability, classified under “Other Payables” and reduced the amount from Additional Paid-in Capital. During the 3 month period ended March 31, 2017, 261,210 shares of Series C Convertible Preferred Stock were converted into 1,044,840 shares of common stock. Pursuant to the terms of the public offering of Series B Convertible Preferred Stock and accompanying warrants closed in July 2016, that provided the holders of the Series B Convertible Preferred Stock with certain anti-dilution protections, upon closing of the March 2017 Offering, the conversion price of the Series B Convertible Preferred Stock was adjusted to $1.60 per share of common stock, and each share of Series B Convertible Preferred Stock became convertible into 20.625 shares of common stock. The holders of Series B Convertible Preferred Stock is entitled to receive cumulative dividends at the rate per share of 15% per annum of the stated value for five years, payable in cash or common stock, at our discretion. As a result of such adjustment, the Company was required to issue to the holders of the Series B Convertible Preferred Stock an aggregate of 9,063,314 additional shares of common stock upon conversion of the Series B Convertible Preferred Stock and the payment of the dividends thereunder in common stock, based on 311,521 shares of Series B Convertible Preferred Stock outstanding as of March 8, 2017. During the three month period ended March 31, 2017, 119,528 shares of Series B Convertible Preferred Stock was converted into 4,314,214 shares of common stock. b. As of March 31, 2017 the Company has authorized 155,000,000 shares of capital stock, par value $0.0001 per share, of which 150,000,000 are shares of common stock and 3,328,000 are shares of “blank check” preferred stock.

Net Loss Per Share

Net Loss Per Share	3 Months Ended
	Mar. 31, 2017
Earnings Per Share [Abstract]
Net Loss Per Share	NOTE 6- NET LOSS PER SHARE: Basic and diluted net loss per share is computed by dividing the net loss for the period attributable to common stock (after adding the beneficial conversion feature included in the Series C Convertible Preferred Stock) by the weighted average number of shares of common stock outstanding during the period, including 1,370,883 weighted average shares of common stock issuable to holders of Series B Convertible Preferred Stock for the three month periods ended March 31, 2017 (since they are convertible based on passage of time). The calculation of diluted net loss per share excludes potential share issuances of common stock upon the exercise of share options, warrants, restricted stocks and placement agent unit as the effect is anti-dilutive. The total number of shares of common stock related to outstanding options, warrants, restricted stock, Series C Convertible Preferred Stock and placement agent units excluded from the calculations of diluted loss per share were 14,900,945 and 236,537 for the three month period ended March 31, 2017 and 2016, respectively.

Fair Value Measurement

Fair Value Measurement	3 Months Ended
	Mar. 31, 2017
Fair Value Disclosures [Abstract]
Fair Value Measurement	NOTE 7 - FAIR VALUE MEASURMENT Fair value of financial instruments The carrying amounts of financial instruments included in working capital approximate their fair value either because these amounts are presented at fair value or due to the relatively short-term maturities of such instruments. As of March 31, 2017 and December 31, 2016, allowance for doubtful accounts was $71,000 and $336,000, respectively, with the decrease resulting primarily from bad debt write offs.

Inventory

Inventory	3 Months Ended
	Mar. 31, 2017
Inventory Disclosure [Abstract]
Inventory	NOTE 8 - INVENTORY: March 31, December 31, 2017 2016 ($ in thousands) Finished goods $ 109 $ 83 Work in process 97 233 Raw materials and supplies 123 184 $ 329 $ 500

Accounts Payable and Accruals -

Accounts Payable and Accruals - Other	3 Months Ended
	Mar. 31, 2017
Payables and Accruals [Abstract]
Accounts Payable and Accruals - Other	NOTE 9 - ACCOUNTS PAYABLE AND ACCRUALS - OTHER: March 31, December 31, 2017 2016 ($ in thousands) Employees and employee institutions $ 459 $ 357 Accrued vacation and recreation pay 141 137 Accrued clinical trial expenses 452 467 Accrued expenses 767 430 Provision for sales commissions 65 56 $ 1,884 $ 1,447

Commitments and Contingent Liab

Commitments and Contingent Liabilities	3 Months Ended
	Mar. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingent Liabilities	NOTE 10 - COMMITMENT AND CONTINGENT LIABILITIES: a. Litigation: The Company received written communication from a distributor to provide unspecified compensation for pre-paid goods subject to the voluntary field action. After considering the views of its legal counsel as well as other factors, the Company’s management believes that there is a reasonably possible likelihood of a loss from any related future proceedings that would range from a minimal amount up to 1,075,000 Euros. On April 26, 2016 the Company received a suit seeking damages from the Company amounting to $2.2 million in cash and unspecified compensation in equity in connection with certain finders’ fees. The Company’s management, after considering the views of its legal counsel as well as other factors, is of the opinion that a loss to the Company is neither probable nor in an amount or range of loss that is estimable. In July 2016, a service provider filed a suit seeking damages from the Company’s subsidiary amounting to $1,967,822 The Company’s management, after considering the views of its legal counsel as well as other factors, is of the opinion that a loss to the Company is neither probable nor in an amount or range of loss that is estimable.

Entity Wide Disclosures

Entity Wide Disclosures	3 Months Ended
	Mar. 31, 2017
Segment Reporting [Abstract]
Entity Wide Disclosures	NOTE 12 - ENTITY WIDE DISCLOSURES Revenues are attributed to geographic areas based on the location of the customers. The following is a summary of revenues: Three months ended March 31, 2017 2016 ($ in thousands) Germany $ 102 $ 160 Italy 101 155 Argentina 75 13 Russia 63 - Spain 29 63 Other 199 172 $ 569 $ 563 By product: Three months ended March 31, 2017 2016 ($ in thousands) CGuard $ 359 $ 320 MGuard* 210 243 $ 569 $ 563 By principal customers: Three months ended March 31, 2017 2016 Customer A 13 % 2 % Customer B 12 % 17 % Customer C 11 % 22 % Customer D 11 % 0 % Customer E 5 % 11 % All tangible long lived assets are located in Israel.

Recently Adopted and Issued A17

Recently Adopted and Issued Accounting Pronouncements (Tables)	3 Months Ended
	Mar. 31, 2017
Accounting Changes and Error Corrections [Abstract]
Schedule of Reported and as Adjusted Changes to the Consolidated Statement of Operations	3 Months Ended March 31, 2016 As Reported As Adjusted ($ in thousands) NET LOSS $ (2,609 ) $ (2,252 ) NET LOSS PER SHARE - $ (8.11 ) $ (7.00 )

Inventory (Tables)

Inventory (Tables)	3 Months Ended
	Mar. 31, 2017
Inventory Disclosure [Abstract]
Schedule of Inventory	March 31, December 31, 2017 2016 ($ in thousands) Finished goods $ 109 $ 83 Work in process 97 233 Raw materials and supplies 123 184 $ 329 $ 500

Accounts Payable and Accruals19

Accounts Payable and Accruals - Other (Tables)	3 Months Ended
	Mar. 31, 2017
Payables and Accruals [Abstract]
Schedule of Accounts Payable and Accrued Liabilities Other	March 31, December 31, 2017 2016 ($ in thousands) Employees and employee institutions $ 459 $ 357 Accrued vacation and recreation pay 141 137 Accrued clinical trial expenses 452 467 Accrued expenses 767 430 Provision for sales commissions 65 56 $ 1,884 $ 1,447

Entity Wide Disclosures (Tables

Entity Wide Disclosures (Tables)	3 Months Ended
	Mar. 31, 2017
Segment Reporting [Abstract]
Schedule of Revenues are Attributed to Geographic Areas	Revenues are attributed to geographic areas based on the location of the customers. The following is a summary of revenues: Three months ended March 31, 2017 2016 ($ in thousands) Germany $ 102 $ 160 Italy 101 155 Argentina 75 13 Russia 63 - Spain 29 63 Other 199 172 $ 569 $ 563
Schedule of Revenues are Attributed to Geographic Areas By Product	By product: Three months ended March 31, 2017 2016 ($ in thousands) CGuard $ 359 $ 320 MGuard* 210 243 $ 569 $ 563
Schedule of Revenues are Attributed to Geographic Areas Principal Customers	By principal customers: Three months ended March 31, 2017 2016 Customer A 13 % 2 % Customer B 12 % 17 % Customer C 11 % 22 % Customer D 11 % 0 % Customer E 5 % 11 %

Recently Adopted and Issued A21

Recently Adopted and Issued Accounting Pronouncements - Schedule of Reported and as Adjusted Changes to the Consolidated Statement of Operations (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
NET LOSS	$ (2,559)	$ (2,252)
NET LOSS PER SHARE - basic and diluted	$ (0.81)	$ (7)
As Reported [Member]
NET LOSS		$ (2,609)
NET LOSS PER SHARE - basic and diluted		$ (8.11)

Long-term Loan (Details Narrati

Long-term Loan (Details Narrative) $ in Thousands	Mar. 21, 2017USD ($)
Security Agreement [Member]
Reapyment of debt	$ 1,159

Equity (Details Narrative)

Equity (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands	Mar. 14, 2017	Mar. 31, 2017	Mar. 08, 2017	Dec. 31, 2016
Capital stock, authorized		155,000,000
Common stock, per share		$ 0.0001		$ 0.0001
Common stock shares, authorized		150,000,000		50,000,000
Preferred stock, shares authorized		3,328,000
Series B Warrants [Member]
Warrant exercise price	$ 2
Warrant terms	5 years
Series C Warrants [Member]
Warrant exercise price	$ 1.60
Gross proceeds from offering, cost	$ 6,800
Placement agent fees payable percentage	8.00%
Solicitation fee percentage	3.00%
Warrant terms	6 months
March 2017 Offering [Member] | Series C Convertible Preferred Stock [Member]
Number of common shares sold	1,069,822
Warrant exercise price	$ 6.40
Conversion stock shares converted	4	1,044,840
Convertible preferred stock conversion price per share	$ 1.60
Convertible preferred stock shares issued		261,210
March 2017 Offering [Member] | Series B Warrants [Member]
Number of warrants to purchase common shares	4,279,288
Warrant exercise price	$ 6.40
March 2017 Offering [Member] | Series C Warrants [Member]
Number of warrants to purchase common shares	4,279,288
Warrant exercise price	$ 6.40
March 2017 Offering [Member] | Series B Convertible Preferred Stock [Member]
Warrant exercise price		$ 1.60
Conversion stock shares converted		4,314,214
Convertible preferred stock shares issued		119,528
March 2017 Offering [Member] | Series B Convertible Preferred Stock [Member] | Common Stock
Conversion stock shares converted		20.625
Placement agent fees payable percentage		15.00%
Preferred stock shares, outstanding			311,521
July 2016 Offering [Member] | Series C Convertible Preferred Stock [Member]
Conversion stock shares converted		9,063,314

Net Loss Per Share (Details Nar

Net Loss Per Share (Details Narrative) - shares	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Number of antidilutive securities excluded from computation of earnings per share	14,900,945	236,537
Series B Convertible Preferred Stock [Member]
Weigheted average shares of common stock outstanding	1,370,883

Fair Value Measurment (Details

Fair Value Measurment (Details Narrative) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Allowance for doubtful accounts	$ 71	$ 336

Inventory - Schedule of Invento

Inventory - Schedule of Inventory (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Inventory Disclosure [Abstract]
Finished goods	$ 109	$ 83
Work in process	97	233
Raw materials and supplies	123	184
Total inventories	$ 329	$ 500

Accounts Payable and Accruals27

Accounts Payable and Accruals - Other - Schedule of Accounts Payable and Accrued Liabilities Other (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Payables and Accruals [Abstract]
Employees and employee institutions	$ 459	$ 357
Accrued vacation and recreation pay	141	137
Accrued clinical trials expenses	452	467
Accrued expenses	767	430
Provision for sales commissions	65	56
Total accounts payable and accruals other	$ 1,884	$ 1,447

Commitment and Contingent Liabi

Commitment and Contingent Liabilities (Details Narrative)	Apr. 26, 2016USD ($)	Jul. 31, 2016USD ($)	Mar. 31, 2017EUR (€)
Law suit seeking damages	$ 2,200,000
Former Service Provider [Member] | InspireMD GmbH [Member]
Law suit seeking damages		$ 1,967,822
Former Service Provider [Member] | Euro [Member]
Maximum amount of claim | €			€ 1,075,000

Entity Wide Disclosures - Sched

Entity Wide Disclosures - Schedule of Revenues are Attributed to Geographic Areas (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Revenues	$ 569	$ 563
Germany [Member]
Revenues	102	160
Italy [Member]
Revenues	101	155
Argentina [Member]
Revenues	75	13
Russia [Member]
Revenues	63
Spain [Member]
Revenues	29	63
Other [Member]
Revenues	$ 199	$ 172

Entity Wide Disclosures - Sch30

Entity Wide Disclosures - Schedule of Revenues are Attributed to Geographic Areas by Product (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Segment Reporting Information [Line Items]
Revenue	$ 569	$ 563
CGuard [Member]
Segment Reporting Information [Line Items]
Revenue	395	320
MGuard [Member]
Segment Reporting Information [Line Items]
Revenue	$ 210	$ 243

Entity Wide Disclosures - Sch31

Entity Wide Disclosures - Schedule of Revenues are Attributed to Geographic Areas Principal Customers(Details) - Sales [Member]	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Customer A [Member]
Segment Reporting Information [Line Items]
Percentage of revenues per major customer	13.00%	2.00%
Customer B [Member]
Segment Reporting Information [Line Items]
Percentage of revenues per major customer	12.00%	17.00%
Customer C [Member]
Segment Reporting Information [Line Items]
Percentage of revenues per major customer	11.00%	22.00%
Customer D [Member]
Segment Reporting Information [Line Items]
Percentage of revenues per major customer	11.00%	0.00%
Customer E [Member]
Segment Reporting Information [Line Items]
Percentage of revenues per major customer	5.00%	11.00%