Welcome to our dedicated page for Inmode news (Ticker: INMD), a resource for investors and traders seeking the latest updates and insights on Inmode stock.
InMode Ltd. reports developments in medical-technology devices that use radiofrequency technology for minimally invasive and non-invasive aesthetic and medical procedures. Company updates commonly address product platforms and treatment categories for plastic surgery, dermatology, gynecology, otolaryngology and ophthalmology, including face and body contouring, medical aesthetics and women's health.
Recurring news also covers GAAP and non-GAAP financial results, consumables and service revenue, regional performance in the United States and Europe, margin trends, investor-conference participation, board-reviewed strategic matters and capital allocation actions such as ordinary-share repurchase programs.
InMode Ltd. (Nasdaq: INMD) has received FDA clearance for its new Morpheus8 Body handpiece and Morpheus8 Platform, making it the first technology to deliver RF energy at a thermal depth of 8mm. This advanced handpiece features 40 gold coated pins, designed for customizable full body fractional treatments. The Morpheus8 Platform includes dual handpieces and fractional tips for various applications. InMode aims to innovate within the RF fractional space, improving treatment options for physicians and patients. The official launch will take place at an event hosted by Dr. Stephen Mulholland from August 14-16, 2020.
InMode Ltd. (Nasdaq: INMD) reported a 21% decline in Q2 2020 revenue, totaling $30.8 million, compared to Q2 2019. GAAP net income fell to $8.6 million ($0.21 EPS), down from $15.8 million ($0.45 EPS) year-over-year. Despite challenges posed by the COVID-19 pandemic, the company is optimistic as elective surgeries resumed, leading to improved sales in June. The company's cash position remains strong at $203.4 million. For 2020, InMode anticipates revenues between $156-$160 million with gross margins of 84%-86%.
InMode Ltd. (Nasdaq: INMD) has announced participation in several virtual conferences in August 2020. Key executives, including CEO Moshe Mizrahy and CFO Yair Malca, will present at the UBS Genomics 2.0 and Medtech Innovations Virtual Summit and the Canaccord Genuity 40th Annual Growth Conference on August 13, 2020. They will also host investor meetings during the 5th Annual Needham Virtual Med Tech 1x1 Conference on August 17, 2020. Live webcasts of presentations will be available at InMode Investors.
InMode Ltd. (Nasdaq: INMD) has been recognized with multiple prestigious beauty awards for its innovative medical technologies. The non-invasive workstation, Evolve, won in the '2020 Beauty Awards' by Good Housekeeping, while Evoke received accolades in the 'Stronger Jawlines' category of Shape's Skin Awards. Additionally, AccuTite was acknowledged in Elle's '2019 Future of Beauty Awards.' These awards validate InMode's position as a leader in non-invasive medical technology and highlight the effectiveness of its devices in delivering exceptional results.
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.
InMode Ltd. (Nasdaq: INMD) has received clearance from the China National Medical Products Administration (NMPA) for its two proprietary radiofrequency platforms: InMode RF and the InMode platform. This clearance is pivotal for expanding InMode's market presence in China. The InMode RF platform is designed for minimally invasive facial and body procedures, while the InMode platform focuses on non-invasive skin treatment. InMode aims to start sales in Q3 2020, following its exclusive partnership with Beijing Inmode Medical Technology Co., Ltd., which has established branches across major Chinese cities.
InMode Ltd. (Nasdaq: INMD) announced Health Canada certification for its Evolve Tone device, marking it as Canada's first all-in-one hands-free body remodeling platform. This innovative technology encompasses three unique modalities: Tite, Trim, and Tone, catering to patient demands in skin remodeling, body contouring, and muscle strengthening. Dr. Michael Kreindel, Chief Technology Officer, emphasized its customization capabilities for diverse body types, while President Shakil Lakhani highlighted the strategic aim of expanding into the fast-growing Canadian aesthetic market.