InMode Expects Second Quarter 2023 Revenue Between $135.7-$135.9M, Increases Full Year 2023 Guidance, Expects Revenues of $530-540M

Rhea-AI Summary

InMode Ltd., a global provider of medical technologies, will release its financial results for Q2 2023 on July 27, 2023. Preliminary results show expected revenue of $135.7 million to $135.9 million for Q2 2023, non-GAAP earnings per diluted share of $0.70 to $0.71, and full-year revenue guidance of $530 million to $540 million. The non-GAAP gross margin for Q2 2023 is expected to be in the range of 83% to 85%.

Conference call to be held on Thursday, July 27, 2023, at 8:30 a.m. Eastern Time

YOKNEAM, Israel, July 12, 2023 /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 2023 before the Nasdaq market opens on Thursday, July 27, 2023.

InMode is currently finalizing its financial results for the three months ended June 30, 2023. 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 second quarter of 2023 in the range of $135.7 million to $135.9 million
• Non-GAAP earnings¹ per diluted share for the second quarter of 2023 in the range of $0.70 to $0.71
• Revenue for the full year of 2023 to be in the range of $530 million to $540 million, increased from previous guidance of $525-$530 million
• ¹Non-GAAP gross margin for the second quarter of 2023 in the range of 83% to 85%

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.

Members of InMode's management team will host a conference call to discuss the second quarter of 2023 financial results on Thursday, July 27, 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.

The Company encourages participants to pre-register for the conference call using the following link: https://dpregister.com/sreg/10180180/f9c680d37c

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=hAHIxqyf

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 27, 2023, at 12:00 p.m. Eastern Time to August 10, 2023, 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: 3384563

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 and its wide array of medical technologies, 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, strategic 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 14, 2023, as well as 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.

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.

FAQ

When will InMode release its financial results for Q2 2023?

InMode will release its financial results for Q2 2023 on July 27, 2023.

What is the expected revenue range for Q2 2023?

The expected revenue range for Q2 2023 is $135.7 million to $135.9 million.

What is the expected non-GAAP earnings per diluted share for Q2 2023?

The expected non-GAAP earnings per diluted share for Q2 2023 is $0.70 to $0.71.

What is the revised full-year revenue guidance for 2023?

The revised full-year revenue guidance for 2023 is $530 million to $540 million.

What is the expected non-GAAP gross margin for Q2 2023?

The expected non-GAAP gross margin for Q2 2023 is in the range of 83% to 85%.