Inmode Ltd. Stock Price, News & Analysis

InMode (Nasdaq: INMD), a leading global provider of innovative medical technologies, has announced its participation in two upcoming investor conferences in August 2024. The company will be present at the 9th Annual Needham Virtual MedTech & Diagnostics Conference on August 12, with CEO Moshe Mizrahy and CFO Yair Malca conducting virtual one-on-one meetings. Additionally, CFO Yair Malca will participate in the Canaccord 44th Annual Global Growth Conference on August 14 at 2:00 pm ET, featuring an in-person fireside chat moderated by Caitlin Cronin, Director of MedTech Equity Research, along with meetings. A live webcast of the Canaccord presentation will be available for interested parties.

InMode (INMD) reported Q2 2024 financial results, showing a significant decrease in revenue. Key highlights include:

- GAAP revenue of $86.4 million, down 36.5% year-over-year

- Pro-forma revenue (including pre-orders) of $102.6 million

- GAAP net income of $23.8 million, compared to $55.7 million in Q2 2023

- Non-GAAP diluted EPS of $0.34, down from $0.72 in Q2 2023

The company attributed the challenging quarter to macroeconomic factors and longer production times for new platforms. InMode updated its 2024 outlook, projecting full-year revenue between $430-$440 million, down from previous guidance of $485-$495 million.

InMode (Nasdaq: INMD) has introduced IgniteRF, a revolutionary minimally invasive workstation featuring nine technologies for soft tissue contraction across multiple depths. This platform includes the BodyTite, FaceTite, Morpheus8, and the new QuantumRF family of products, offering a comprehensive suite of radiofrequency solutions for various aesthetic and surgical needs.

The QuantumRF technology deploys fractionated radiofrequency to maximal depths, with two lightweight cannulas: QuantumRF 10 for small, delicate areas and QuantumRF 25 for larger zones. This advancement allows physicians to deliver unprecedented results without invasive surgery. Radiofrequency technology has become the gold standard in skin contraction due to its effectiveness, safety, and minimally invasive nature, stimulating collagen production and promoting tissue remodeling for firmer, more youthful-looking skin.

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.