InMode Expects Record Third Quarter 2021 Revenue of $93.5M-$94M, Raising Full-Year 2021 Revenue Guidance to $343M-$347M
InMode Ltd. (NASDAQ: INMD) announced expectations for record revenue for Q3 2021, projecting between $93.5M and $94M. The company also anticipates Non-GAAP earnings per diluted share to be in the range of $0.53 to $0.54, reflecting a 2-for-1 stock split effective September 30, 2021. Full-year revenue guidance has been raised to $343M - $347M with a Non-GAAP gross margin of 84% - 86%. A conference call to discuss results will take place on October 26, 2021.
- Record Q3 2021 revenue projected at $93.5M-$94M.
- Raised full-year 2021 revenue guidance to $343M-$347M.
- Non-GAAP earnings per diluted share expected to be $0.53-$0.54.
- Strong Non-GAAP gross margin forecast of 84%-86%.
- None.
YOKNEAM, Israel, Oct. 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 third quarter of 2021 before the Nasdaq market opens on Tuesday, October 26, 2021.
InMode is currently finalizing its financial results for the third quarter of 2021. While complete financial information and operating data are not yet available, set forth below are certain preliminary financial results for said period, subject to final adjustments and other developments that may arise between now and the time such financial results are published. Based on preliminary results, management expects:
- Record revenue for the third quarter of 2021 in the range of
$93.5M -$94M - Record Non-GAAP1 earnings per diluted share for the third quarter of 2021 in the range of
$0.53 -$0.54 . Earnings per diluted share reflect a 2-for-1 stock split effective September 30, 2021. (On a pre-split basis, pro forma earnings per diluted share for the third quarter of 2021 in the range of $1.06-$1.08) - Revenue for the full year of 2021 will be in the range of
$343M -$347M - Non-GAAP1 gross margin for the full year of 2021 in the range of 84%-86%
InMode will host a conference call to discuss the third quarter 2021 financial results on October 26, at 8:30 a.m. Eastern Time with presentations from management including Moshe Mizrahy, Chairman and Chief Executive Officer; Yair Malca, Chief Financial Officer; Dr. Michael Kreindel, Chief Technology 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/10160891/ee388c0e4d. Callers will receive a unique dial-in number 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.
[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.
U.S. Toll-Free: 1-833-316-0562
Israel Toll-Free: 1-80-9212373
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 October 26, 2021, at 12:00 p.m. Eastern Time to November 8, 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: 1-855-669-9658
Replay TOLL/INTERNATIONAL: 1-412-317-0088
Replay Pin Number: 10160891
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.
Use of Non-GAAP Financial Measure
This release includes an estimate of InMode's expected non-GAAP earnings per diluted share for the third 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 because of new information, future events or otherwise, except as may be required by law.
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
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