InMode to Report Fourth Quarter & Full Year 2023 Financial Results and Hold Conference Call on Feb. 13, 2024, Expects Q4 Revenue Between $126.0M-$126.5M

Rhea-AI Summary

InMode Ltd. (INMD) is set to release its financial results for the fourth quarter and full year 2023 on February 13, 2024. The company expects revenue for the fourth quarter to be between $126.0 million and $126.5 million, with full-year revenue in the range of $491.3 million to $491.8 million. Non-GAAP earnings per diluted share for the same periods are expected to be between $0.68 and $0.69, and $2.54 to $2.55, respectively. The company anticipates a non-GAAP gross margin for the full year of 2023 to be in the range of 83% to 85%. Additionally, InMode projects revenue for the full year 2024 to be between $495 million and $505 million.

Positive

• InMode Ltd. is expecting strong revenue results for the fourth quarter and full year 2023, with revenue estimates in the range of $491.3 million to $491.8 million for the full year.
• The company anticipates a healthy non-GAAP gross margin of 83% to 85% for the full year of 2023, indicating strong operational efficiency.
• InMode's projected revenue for the full year 2024 is also positive, with estimates between $495 million and $505 million.

Negative

• None.

Conference call to be held on Tuesday, February 13, 2024, at 8:30 a.m. Eastern Time

YOKNEAM, Israel, Jan. 16, 2024 /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 2023 before the Nasdaq market opens on Tuesday, February 13, 2024.

InMode is currently finalizing its financial results for the fourth quarter and full year of 2023. 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:

• Revenue for the fourth quarter of 2023 to be in the range of $126.0 million to $126.5 million and revenue for the full year of 2023 to be in the range of $491.3 million to $491.8 million
• Non-GAAP¹ earnings per diluted share for the fourth quarter and full year of 2023 to be in the range of $0.68 to $0.69 and $2.54 to $2.55, respectively
• Non-GAAP¹ gross margin for the full year of 2023 to be in the range of 83% to 85%
• Full year 2024 revenue to be in the range of $495 million to $505 million

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.

InMode will host a conference call to discuss the fourth quarter and full year 2023 financial results on February 13, 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/10185217/fb446e05e4.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: https://event.choruscall.com/mediaframe/webcast.html?webcastid=6h4ExUgZ

At:

8:30 a.m. Eastern Time
5:30 a.m. Pacific 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 13, 2024, at 12:00 p.m. Eastern Time to February 27, 2024, 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: 6723856

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, including the 2024 revenue projection described above. 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. 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, 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

What is the Nasdaq ticker symbol for InMode Ltd.?

The Nasdaq ticker symbol for InMode Ltd. is INMD.

When will InMode Ltd. release its financial results for the fourth quarter and full year 2023?

InMode Ltd. is set to release its financial results on February 13, 2024.

What is the expected revenue range for the fourth quarter of 2023 for InMode Ltd.?

The expected revenue range for the fourth quarter of 2023 is between $126.0 million and $126.5 million.

What are the projected non-GAAP earnings per diluted share for the full year 2023 for InMode Ltd.?

The projected non-GAAP earnings per diluted share for the full year 2023 are between $2.54 and $2.55.

What is the estimated non-GAAP gross margin for the full year of 2023 for InMode Ltd.?

The estimated non-GAAP gross margin for the full year of 2023 is in the range of 83% to 85%.

What is the revenue projection for the full year 2024 for InMode Ltd.?

The revenue projection for the full year 2024 is between $495 million and $505 million.