InMode Expects Record Fourth Quarter and Full Year 2020 Results, Fourth Quarter Revenue Between $74.5-$75M, Non-GAAP Earnings per Diluted Share Between $0.91-$0.93; Announces 2021 Full Year Revenue Guidance of $250- $260M

Rhea-AI Summary

On January 12, 2021, InMode Ltd. (Nasdaq: INMD) announced its expectation for record revenues in Q4 2020, projected between $74.5 million to $75 million, and a full-year total of $205.5 million to $206 million. This surpasses prior guidance of $192 million to $195 million. Non-GAAP earnings per diluted share are expected to be $0.91 to $0.93 for Q4 and $2.08 to $2.10 for the full year. Additionally, the company provided a revenue guidance of $250 million to $260 million for 2021.

Positive

• Record Q4 2020 revenue expected between $74.5 million to $75 million.
• Full-year 2020 revenue expected between $205.5 million to $206 million, exceeding previous guidance.
• Non-GAAP earnings per diluted share for Q4 expected between $0.91 to $0.93.
• 2021 revenue guidance set between $250 million to $260 million.

Negative

• None.

YOKNEAM, Israel,, Jan. 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 fourth quarter and full year 2020 before the Nasdaq market opens on Wednesday, February 10, 2021.

InMode is currently finalizing its financial results for the three months and year ended December 31, 2020. 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:

• Record revenue for the fourth quarter and full year of 2020 in the range of $74.5 million to $75 million and $205.5 million to $206 million, respectively, higher than the previously announced guidance of $192 million to $195 million
• Non-GAAP earnings per diluted share for the fourth quarter and full year of 2020 in the range of $0.91 to $0.93 and $2.08 to $2.10, respectively
• Non-GAAP gross margin for the full year of 2020 in the range of 84% to 86%
• Full year 2021 revenue guidance in the range of $250 million to $260 million.

"Our best-in-class sales and marketing team adapted to the new COVID environment seamlessly. We were able to execute on all of our strategic goals throughout the ongoing pandemic. Our unique hands-free and minimally invasive technology supported InMode's growth by providing safe and effective solutions for physicians to offer their patients," commented Moshe Mizrahy, InMode's CEO.

"Our new proprietary and patented technologies have been well-accepted by the medical community even during this difficult period. These technologies enabled physicians to provide solutions that maintain social distancing for out-patient clinic-based treatments. We believe these treatments are becoming the standard of care in the COVID-19 environment," commented Dr. Michael Kreindel, InMode's CTO.

[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.

Members of InMode's management team will host a conference call to discuss the fourth quarter and full year 2020 financial results on February 10, 2021, at 8:30 a.m. Eastern Time. The presenters include Mr. Moshe Mizrahy, Chairman and Chief Executive Officer; Dr. Michael Kreindel, co-founder and Chief Technology Officer; Mr. Yair Malca, Chief Financial Officer; Mr. 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/10151158/e064a3345e. 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 February 10, 2021 at 12:00 p.m. Eastern Time to February 24, 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: 10151158

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 fourth quarter and full year 2020. 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, 2019 filed with the Securities and Exchange Commission on February 18, 2020. 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.

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

 

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SOURCE InMode Ltd.

FAQ

What were InMode's expected revenues for Q4 2020?

InMode expects Q4 2020 revenues to be between $74.5 million and $75 million.

What is InMode's full-year revenue guidance for 2021?

InMode has provided a revenue guidance of $250 million to $260 million for 2021.

What are the expected non-GAAP earnings per diluted share for InMode in Q4 2020?

The expected non-GAAP earnings per diluted share for Q4 2020 are between $0.91 and $0.93.

When will InMode release its full financial results for 2020?

InMode is expected to release its full financial results on February 10, 2021.