InMode Expects First Quarter 2021 Revenue Between $65.0-$65.4M, Non-GAAP Earnings per Diluted Share Between $0.65-$0.67

Rhea-AI Summary

InMode Ltd. (Nasdaq: INMD) announced it will release its Q1 2021 financial results on May 5, 2021. Preliminary estimates indicate revenue between $65.0 million and $65.4 million, with non-GAAP earnings per diluted share ranging from $0.65 to $0.67. The expected non-GAAP gross margin for 2021 is between 84% and 86%. A conference call is scheduled for the same day at 8:30 a.m. ET to discuss these results. InMode specializes in innovative medical technologies, prominently using RF technology.

Positive

• Preliminary revenue forecast for Q1 2021 suggests growth, expected at $65.0M to $65.4M.
• Non-GAAP earnings per diluted share forecasted at $0.65 to $0.67 indicates strong performance.

Negative

• None.

YOKNEAM, Israel, April 12, 2021 /PRNewswire/ -- InMode Ltd. (Nasdaq: INMD), a leading global provider of innovative medical technologies, announced today that it expects to release its financial results for the first quarter 2021 before the Nasdaq market opens on Wednesday, May 5, 2021.

InMode is currently finalizing its financial results for the three months ended March 31, 2021. While complete financial information and operating data are not yet available, set forth below are certain preliminary results of InMode's financial results for such period, subject to final adjustments and other developments that may arise between now and the time such financial results are finalized. Based on preliminary results, management expects:

• Revenue for the first quarter of 2021 in the range of $65.0 million to $65.4 million
• Non-GAAP earnings¹ per diluted share for the first quarter of 2021 in the range of $0.65 to $0.67
• Non-GAAP gross margin for the full year of 2021 in the range of 84% to 86%

Members of InMode's management team will host a conference call to discuss the first quarter 2021 financial results on May 5, 2021, at 8:30 a.m. Eastern Time. The presenters include Moshe Mizrahy, Chairman and Chief Executive Officer; Dr. Michael Kreindel, co-founder and Chief Technology Officer; Yair Malca, Chief Financial Officer; Shakil Lakhani, President of North America; and Dr. Spero Theodorou, Chief Medical Officer.

The Company encourages participants to pre-register for the conference call using the following link: https://dpregister.com/sreg/10153792/e5af7c2dc0. Callers will receive a unique dial-in upon registration, which enables immediate access on the day of the call. Participants may pre-register at any time, including up to and after the call start time.

For callers that opt out of pre-registration, please dial one of the following teleconferencing numbers. Please begin by placing your call 10 minutes before the conference call commences. If you are unable to connect using the toll-free number, please try the international dial-in number.

U.S. Toll-Free: 1-833-316-0562
Israel Toll-Free: 1-80-921-2373
International: 1-412-317-5736

At:

8:30 a.m. Eastern Time
5:30 a.m. Pacific Time
3:30 p.m. Israel Time

The conference call will also be webcast live from a link on InMode's website at https://inmodemd.com/investors/events-presentations/. A replay of the conference call will be available from May 5, 2021 at 12:00 p.m. Eastern Time to May 19, 2021 at 11:59 p.m. Eastern Time. To access the replay, please dial one of the following numbers:

Replay U.S. TOLL-FREE: 1-877-344-7529
Replay Canada TOLL-FREE: 855-669-9658
Replay TOLL/INTERNATIONAL: 1-412-317-0088
Replay Pin Number: 10153792

A replay will also be available for 90 days on InMode's website at: https://inmodemd.com/investors/events-presentations/.

About InMode

InMode is a leading global provider of innovative medical technologies. InMode develops, manufactures, and markets devices harnessing novel radiofrequency ("RF") technology. InMode strives to enable new emerging surgical procedures as well as improve existing treatments. InMode has leveraged its medically accepted minimally invasive RF technologies to offer a comprehensive line of products across several categories for plastic surgery, gynecology, dermatology, otolaryngology, and ophthalmology.

For more information about InMode, please visit www.inmodemd.com.

Use of Non-GAAP Financial Measure

This release includes an estimate of InMode's expected non-GAAP earnings per diluted share for the first quarter 2021. Because this financial measure is used in InMode's internal analysis of financial and operating performance, management believes that it provides greater transparency to investors of management's view of InMode's economic performance. Management also believes the presentation of this measure allows investors to more effectively evaluate and compare the performance of InMode to that of its peers, although InMode's presentation of this non-GAAP measure may not be comparable to other similarly titled measures of other companies. InMode has not provided a reconciliation of non-GAAP earnings per diluted share to the corresponding GAAP financial measure on a forward-looking basis due to the potential variability, limited visibility and unpredictability. See "Forward-Looking Statements" for additional information.

Forward-Looking Statements

This press release contains certain forward-looking statements. Words such as "expects" and "strives" or similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions, many of which are beyond the control of InMode, including, without limitation, risks relating to the impact of the COVID-19 outbreak and the risk factors and other matters set forth in its Annual Report on Form F-20 for the year ended December 31, 2020 filed with the Securities and Exchange Commission on February 10, 2021. The COVID-19 outbreak has caused significant volatility and disruption in the financial markets both globally and in the United States. If COVID-19 continues to spread or the response to contain it is unsuccessful, InMode could experience material adverse effects on its business, financial condition, liquidity and results of operations. InMode undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.

[1] Please refer to "Use of Non-GAAP Financial Measure" below for important information about non-GAAP financial measures. Non-GAAP financial results exclude stock-based compensation and related tax adjustments.

Investor Relations Contact:
Miri Segal-Scharia
MS-IR LLC
ir@inmodemd.com
917-607-8654 

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SOURCE InMode Ltd.

FAQ

What are InMode's expected revenues for Q1 2021?

InMode expects revenues for Q1 2021 to be between $65.0 million and $65.4 million.

What is the forecasted non-GAAP earnings per share for InMode in Q1 2021?

The non-GAAP earnings per diluted share for Q1 2021 is expected to range from $0.65 to $0.67.

When will InMode release its financial results?

InMode will release its financial results for Q1 2021 on May 5, 2021, before the market opens.

What is the non-GAAP gross margin expectation for InMode in 2021?

The non-GAAP gross margin for InMode is expected to be between 84% and 86% for the full year 2021.