NEWS PROVIDED BYInMode LTD
Jul 11, 2024, 08:30 ET
Expects Q2 Revenue Between $86.2M-$86.3M, Pro-Forma Revenue (including new platform pre-orders) Between $102.4M-$102.5M, Decreases FY 2024 Guidance to $430M-$440M
Conference call to be held on Thursday, Aug. 1, 2024, at 8:30 a.m. Eastern Time
YOKNEAM, Israel, July 11, 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 second quarter of 2024 before the Nasdaq market opens on Thursday, Aug. 1, 2024.
InMode is currently finalizing its financial results for the second quarter of 2024. While complete financial information and operating data are not yet available, set forth below are certain preliminary financial results for the period, subject to final adjustments and subject to other developments that may arise between now and the time such financial results are published.
As discussed last quarter, InMode recently introduced two new platforms to the market, resulting in a transition phase with pre-orders not fully reflected in the quarterly results. Additionally, macro-economic factors continue to impact the aesthetics industry. Preliminary results suggest that management anticipates the following in the second quarter of 2024:
- Revenue to be in the range of $86.2 million to $86.3 million
- Pro-forma revenue (including pre-orders of new platforms not yet delivered) to be in the range of $102.4 million to $102.5 million
- Non-GAAP1 gross margin to be in the range of 80% to 81%
- Pro-forma Non-GAAP2 gross margin to be in the range of 82% to 83%
- Full Year 2024 revenue to be $430 million to $440 million vs previous guidance of $485 million to $495 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.
2Pro-forma Non-GAAP includes pre-orders of new platforms not yet delivered and excludes share-based compensation.
InMode will host a conference call to discuss the second quarter 2024 financial results on Thursday, Aug. 1 at 8:30 a.m. Eastern Time. Speakers from the management team include Moshe Mizrahy, Chairman and Chief Executive Officer; Yair Malca, Chief Financial Officer; Dr. Michael Kreindel, Chief Technology Officer; and Shakil Lakhani, President of North America.
The Company encourages participants to pre-register for the conference call using the following link: https://dpregister.com/sreg/10190152/fcd9be3160.
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=GpRhmBhV
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://inmodeinvestors.com/events-presentations/. A replay of the conference call will be available from Aug. 1, 2024, at 12:00 p.m. Eastern Time to Aug. 15, 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: 2791553
A replay will also be available for 90 days on InMode’s website at: https://inmodeinvestors.com/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, but not limited to, 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 13, 2024, 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 MalcaChief Financial OfficerPhone: (949) 305-0108Email: Yair.Malca@inmodemd.com | Investor Relations Contact:Miri SegalMS-IR LLCPhone: (917) 607-8654Email: ir@inmodemd.com |
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SOURCE InMode LTD