InMode Expects First Quarter 2022 Revenue Between $85.0-$85.5M, Non-GAAP Earnings per Diluted Share Between $0.38-$0.39
InMode Ltd (Nasdaq: INMD) announced its expected financial results for Q1 2022, projecting revenue between $85.0 million and $85.5 million and non-GAAP earnings per diluted share between $0.38 and $0.39. The company noted an 83% to 84% gross margin, reflecting growth in demand for its minimally invasive solutions. Despite challenges from COVID-19 variants and supply chain issues, InMode managed to maintain productivity and meet delivery expectations. A conference call is scheduled for May 2, 2022, to discuss the results further.
- Projected Q1 2022 revenue of $85.0 million to $85.5 million.
- Non-GAAP earnings per diluted share expected between $0.38 and $0.39.
- Gross margin expected to remain between 83% and 84%.
- Continued growth in demand for minimally invasive solutions.
- Successful launch and endorsement of a new women's health platform.
- Potential impact of COVID-19 variants on overall performance.
- Ongoing supply chain challenges affecting operations.
Conference call to be held on Monday, May 2, 2022, at 8:30 a.m. Eastern Time
YOKNEAM, Israel, April 11, 2022 /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 of 2022 before the Nasdaq market opens on Monday, May 2, 2022.
InMode is currently finalizing its financial results for the three months ended March 31, 2022. 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 2022 in the range of
$85.0 million to$85.5 million - Non-GAAP earnings1 per diluted share for the first quarter of 2022 in the range of
$0.38 t o$0.39 - Non-GAAP gross margin for the first quarter of 2022 in the range of
83% to84%
"Our results in the first quarter of 2022 reflect the continued growth and demand for our minimal invasive solutions as well as the successful endorsement of our recently launched women health platform. Despite pressures from new Covid-19 variants and supply chain challenges, we're able to ensure a productive manufacturing facility and meet expected delivery times. The growing number of treatments in the U.S. and globally increased the sales of consumables, that consistently reach new records every quarter," commented Moshe Mizrahy, InMode's CEO.
Members of InMode's management team will host a conference call to discuss the first quarter of 2022 financial results on Monday, May 2, 2022, at 8:30 a.m. Eastern Time. Participants will 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.
1Please refer to "Use of Non-GAAP Financial Measures" below for important information about non-GAAP financial measures. Non-GAAP results exclude share-based compensation.
The Company encourages participants to pre-register for the conference call using the following link: https://dpregister.com/sreg/10164856/f208c6bfa8. 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
Webcast URL: https://services.choruscall.com/mediaframe/webcast.html?webcastid=f0uVBy8O
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 2, 2022, at 12:00 p.m. Eastern Time to May 16, 2022, 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 TOLL/INTERNATIONAL: 1-412-317-0088
Replay Pin Number: 4639678
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 radio frequency ("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.
Forward-Looking Statements
The information in this press release includes forward-looking statements within the meaning of the federal securities laws. These statements generally relate to future events or InMode's future financial or operating performance. Actual outcomes and results may differ materially from what is expressed or forecast in such forward-looking statements. In some cases, you can identify these statements because they contain words such as "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "predict," "project," "will," "would" and similar expressions that concern our expectations, strategy plans or intentions. Forward-looking statements are based on management's current expectations and assumptions, and are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict, including with respect to the impact of the COVID-19 global outbreak. Consequently, actual results could differ materially from those indicated in these forward-looking statements. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements included in InMode's Annual Report on Form 20-F filed with the Securities and Exchange Commission on February 10, 2022, risk factors relating to the COVID-19 global outbreak and our future public filings. InMode undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release. You are cautioned not to place undue reliance on these forward-looking statements, which pertain only as of the date of this press release.
Use of Non-GAAP Financial Measures
This release includes an estimate of InMode's expected non-GAAP earnings per diluted share for the first quarter of 2022. 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.
Company Contact: Yair Malca Chief Financial Officer Phone: (949) 305-0108 Email: Yair.Malca@inmodemd.com | Investor Relations Contact: Miri Segal MS-IR LLC Phone: (917) 607-8654 Email: ir@inmodemd.com |
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SOURCE InMode Ltd.
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