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InMode Ltd. (NASDAQ: INMD) is a leading global provider of innovative medical technologies specializing in minimally and non-invasive surgical aesthetic and medical treatment solutions. The company's product portfolio spans three major energy-based treatment categories: face & body contouring, medical aesthetics, and women's health. Their products, such as BodyTite, Optimas, Votiva, Contoura, Triton, EmbraceRF, EvolveX, Evoke, EmpowerRF, and Morpheus8, are widely utilized in plastic surgery, dermatology, gynecology, and ophthalmology.
InMode’s flagship products, including Fractora for skin texture improvement, Lumecca for photorejuvenation, Diolaze for hair removal, and BodyFX for body contouring, are designed to deliver effective and exciting aesthetic solutions.
InMode has consistently invested in research and development to expand its intellectual property portfolio, which is pivotal for maintaining its competitive edge. Recently, the company initiated legal action against BTL Industries for patent infringement regarding their radio-frequency based feminine rejuvenation products.
Despite market headwinds, including higher interest rates affecting equipment financing and slower purchase decisions, InMode has shown resilience with a 2% increase in Q3 2023 revenues, totaling $123.1 million. The company also saw a 13% rise in international sales during this period.
In Q1 2024, InMode announced pre-orders for two new platforms, IgniteRF and Optimus Max, which are anticipated to drive future growth. Additionally, a new share repurchase program and the appointment of Dr. Michael Anghel as Chairman of the Board underscore the company’s commitment to shareholder value.
InMode's innovative spirit is further highlighted by their recent partnership with P1 Offshore Racing, sponsoring the only female driver, Victoria Rand, signaling a strong commitment to empowering women.
For more detailed information and the latest updates, visit InMode's official website.
DOMA Perpetual Capital Management, a major shareholder of InMode (NYSE: INMD), has sent a letter to the company's Board of Directors urging the execution of a 40% tender offer of the stock. DOMA argues that InMode's cash balance, approximately 55% of its market cap, is inefficient and presents an opportunity to create shareholder value. The letter criticizes the Board's capital allocation strategy and calls for immediate action to address the company's declining stock price and valuation.
Key points from DOMA's letter include:
- InMode holds nearly $800 million in cash and marketable securities
- The company has 80% gross margins and strong free cash flow
- DOMA suggests a tender offer using about $600 million, leaving $200 million in cash
- The letter emphasizes the need for continued investment in R&D and organic growth
- DOMA criticizes the company's dividend strategy and advocates for strategic buybacks
InMode (NASDAQ: INMD) has announced an additional FDA 510(k) clearance for its Morpheus8 technology, making it the first and only fractional radiofrequency (FRF) microneedling technology cleared for soft tissue contraction. This expands Morpheus8's existing FDA clearance, enhancing its versatility for physicians and patients.
Alongside this clearance, InMode is launching the new IgniteRF and OptimasMAX platforms, which include the Morpheus8 family of handpieces. These platforms support 14 technologies, offering a comprehensive solution for various skin treatments.
Morpheus8 has gained significant global brand awareness, with over 2.5 million procedures performed worldwide and an average of 8.2 treatments performed every minute. The technology's popularity has made it a trusted and requested procedure among consumers and celebrities alike.
InMode (Nasdaq: INMD), a global leader in medical technologies, announced it will release Q2 2024 financial results on August 1, 2024, before the market opens.
Preliminary results show anticipated Q2 revenue of $86.2M-$86.3M, with pro-forma revenue (including pre-orders) expected to be $102.4M-$102.5M. Non-GAAP gross margin is estimated at 80%-81%, while pro-forma Non-GAAP gross margin should be 82%-83%.
Full-year 2024 revenue guidance has been adjusted to $430M-$440M from a previous $485M-$495M forecast, reflecting macro-economic impacts and transitional effects due to new platform introductions.
A conference call to discuss the results will be held on August 1, 2024, at 8:30 a.m. Eastern Time.
InMode (Nasdaq: INMD) announced that CFO Yair Malca and CMO Spero Theodorou will present at the Jefferies Healthcare Conference in New York on June 5, 2024. The presentation, moderated by Matt Taylor, will occur at 7:30 am ET, with a live webcast available. Additionally, InMode will conduct one-on-one investor meetings on the same day. Interested parties should contact their Jefferies representative to schedule a meeting.
InMode partners with P1 Offshore Racing to sponsor female driver Victoria Rand, marking a groundbreaking move in motorsports. Victoria, with a racing background, joins the Morpheus8 Offshore Race Team to compete alongside champion Johnny Tomlinson. The partnership highlights InMode's commitment to empowering women and pushing the boundaries of aesthetics.
InMode reported first quarter 2024 financial results, with a revenue of $80.3M representing a 24% YoY decrease. The company also announced a share repurchase program and appointed a new Chairman of the Board of Directors. Pro-forma revenue, including new platform pre-orders, was $96M. Quarterly revenues from consumables and service increased by 13%. GAAP net income was $23.7M, non-GAAP net income was $27.7M, and pro-forma non-GAAP net income was $38.8M. The company has a total cash position of $770.5M as of March 31, 2024.
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