InMode Expects Record Second Quarter 2022 Financial Results, Revenue Between $113.0-$113.3M, Increasing Full Year 2022 Revenue Guidance to $425-$435M
InMode Ltd. (INMD) announced expectations for record financial results in Q2 2022, forecasting revenue between $113.0 million to $113.3 million. The company anticipates a non-GAAP earnings per diluted share of $0.57 to $0.58. Additionally, InMode raised its full-year revenue guidance to a range of $425 million to $435 million, up from a previous range of $415 million to $425 million. The company attributes this growth to strong demand for its medical technologies in aesthetic surgery.
- Expected Q2 2022 revenue of $113.0 million to $113.3 million, indicating growth.
- Increased full-year revenue guidance to $425 million - $435 million from $415 million - $425 million.
- Non-GAAP earnings per diluted share projected at $0.57 to $0.58.
- Non-GAAP gross margin forecasted between 83% and 85%.
- None.
Conference call to be held on Thursday, July 28, 2022, at 8:30 a.m. Eastern Time
YOKNEAM, Israel, July 12, 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 second quarter of 2022 before the Nasdaq market opens on Thursday, July 28, 2022.
InMode is currently finalizing its financial results for the three months ended June 30, 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 Q2 2022 results, management expects:
- Revenue for the second quarter of 2022 to be in the range of
$113.0 million to$113.3 million - Non-GAAP1 earnings per diluted share for the second quarter of 2022 to be in the range of
$0.57 t o$0.58 - Revenue for the full year of 2022 to be in the range of
$425 million to$43 5 million - Non-GAAP1 gross margin for the second quarter of 2022 to be in the range of
83% to85%
"Our record results in the second quarter of 2022 are an indication of the strong demand for our proprietary technologies in the aesthetic surgical field. This positive momentum reinforces our confidence going into the second half of the year, and we are happy to increase our full year guidance range from
Members of InMode's management team will host a conference call to discuss the second quarter of 2022 financial results on Thursday, July 28, 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 financial results exclude share-based compensation adjustments.
The Company encourages participants to pre-register for the conference call using the following link: https://dpregister.com/sreg/10167933/f33d3a2e75.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://event.choruscall.com/mediaframe/webcast.html?webcastid=CU9qrvpT
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 July 28, 2022, at 12:00 p.m. Eastern Time to August 11, 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: 7761650
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
In addition to InMode's operating results presented in accordance with GAAP, this release includes certain non-GAAP financial measures including non-GAAP net income, non-GAAP earnings per diluted share and non-GAAP operating margin. Because these measures are used in InMode's internal analysis of financial and operating performance, management believes that they provide greater transparency to investors of management's view of InMode's economic performance. Management also believes the presentation of these measures, when analyzed in conjunction with InMode's GAAP operating results, allows investors to evaluate and compare the performance of InMode to that of its peers, although InMode's presentation of its non-GAAP measures may not be comparable to other similarly titled measures of other companies more effectively.
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