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 (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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