InMode to Report Second Quarter 2020 Financial Results on August 5, 2020; Management Expects Q2 Revenues to be Between $30.2-$30.6M, Non-GAAP Earnings per Diluted Share Between $0.20-$0.22, Full Year 2020 Revenue to be No Less than Full Year 2019 Revenue

Rhea-AI Summary

InMode Ltd. (Nasdaq: INMD) is set to release its second-quarter 2020 financial results on August 5, 2020. Preliminary insights indicate expected revenues between $30.2 million and $30.6 million, with non-GAAP earnings per diluted share projected between $0.20 and $0.22. The company anticipates that annual revenues will not fall below 2019 levels and aims to maintain an 85% gross margin for the year. This report will be followed by a conference call on the same day at 8:30 a.m. ET.

Positive

• Q2 2020 revenue expected between $30.2 million and $30.6 million.
• Non-GAAP Earnings per Diluted Share projected between $0.20 and $0.22.
• Full year revenue expected to not be lower than 2019 levels.
• Gross margin forecasted at approximately 85% for the full year.

Negative

• Potential uncertainties due to the ongoing COVID-19 outbreak affecting business operations.

YOKNEAM, Israel, July 13, 2020 /PRNewswire/ -- InMode Ltd. (Nasdaq: INMD), a leading global provider of innovative medical technologies, announced today that it will release its financial results for the second quarter 2020 before the Nasdaq market opens on Wednesday, August 5, 2020.

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InMode is currently finalizing its financial results for the three months ended June 30, 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 InMode's second quarter revenues to be in the range of $30.2 million to $30.6 million and non-GAAP¹ Earnings per Diluted Share to be in the range of $0.20 to $0.22. Furthermore, management expects that the revenue outlook for the full year of 2020 will not be lower than the full year revenue in 2019, and InMode expects to maintain a full year gross margin of approximately 85%.

Members of InMode's management team will host a conference call to discuss the second quarter 2020 financial results on August 5, 2020, 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: http://dpregister.com/10145846. 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 ten 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 Dial-in Number: 1-866-777-2509
Israel Toll- Free Dial-in Number: 1-80-921-2373
International Dial-in Number: 1-412-317-5413

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 August 5, 2020 at 12:00 p.m. Eastern Time to August 12, 2020 at 11:59 p.m. Eastern Time. To access the replay, please dial one of the following numbers: 

Replay Dial-in U.S TOLL-FREE: 1-877-344-7529
   Replay Dial-in Canada TOLL-FREE: 855-669-9658
Replay Dial-in TOLL/INTERNATIONAL: 1-412-317-0088
Replay Pin Number: 10145846

A replay will also be available for 90 days on InMode's website at https://inmodemd.com/investors/events-presentations/

Use of Non-GAAP Financial Measure

This release includes an estimate of InMode's expected non-GAAP Earnings per Diluted Share for the second quarter 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.

Reference

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.

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

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

FAQ

What are InMode's expected revenues for Q2 2020?

InMode expects Q2 2020 revenues to be between $30.2 million and $30.6 million.

What is the expected non-GAAP EPS for InMode in Q2 2020?

The non-GAAP earnings per diluted share for Q2 2020 is projected to be between $0.20 and $0.22.

When will InMode announce its Q2 2020 financial results?

InMode will release its Q2 2020 financial results on August 5, 2020.

What is InMode's revenue outlook for the full year 2020?

InMode expects its full year 2020 revenue to be no lower than the revenue in 2019.

What gross margin does InMode anticipate for the full year 2020?

InMode expects to maintain a gross margin of approximately 85% for the full year 2020.