Indicate by check mark whether the registrant
files or will file annual reports under cover of Form 20-F or Form 40-F:
Indicate by check mark whether the registrant
by furnishing the information contained in this form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b)
under the Securities Exchange Act of 1934:
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Exhibit 99.1
InMode Reports Third Quarter 2026 Financial
Results:
Quarterly GAAP Revenues of $92.1 Million; Reaffirms
Full-Year 2026 Financial Outlook
YOKNEAM, Israel, November 11, 2026 - InMode
Ltd. (Nasdaq: INMD) (“InMode”), a leading global provider of innovative medical technologies, today announced its consolidated
financial results for the third quarter of 2026.
Third Quarter 2026 Highlights:
| |
● Quarterly GAAP revenues of $92.1 million, broadly in line with the third quarter of 2025. |
| |
● Quarterly
revenues from consumables and service of $19.3 million, a decrease of 3% compared to the third quarter of 2025.
● GAAP
operating income of $17.5 million and *non-GAAP operating income of $20.5 million.
● Total
cash position of $512.7 million as of September 30, 2026, including cash and cash equivalents, marketable securities and short-term bank
deposits.
● Successful
initial launch of Morpheus8 Max, with continued growth anticipated.
|
| U.S. GAAP Results |
| (U.S. dollars in thousands, except for per share data) |
| |
Q3 2026 |
Q3 2025 |
| Revenues |
$92,138 |
$93,165 |
| Gross Margins |
78% |
78% |
| Operating Margins |
19% |
22% |
| Net Income |
$18,863 |
$21,863 |
| Earnings per Diluted Share |
$0.32 |
$0.34 |
| *Non-GAAP Results |
| (U.S. dollars in thousands, except for per share data) |
| |
Q3 2026 |
Q3 2025 |
| Gross Margins |
78% |
78% |
| Operating Margins |
22% |
25% |
| Net Income |
$21,902 |
$24,532 |
| Earnings per Diluted Share |
$0.37 |
$0.38 |
*Please refer to “Use of non-GAAP Financial
Measures” below for important information about non-GAAP financial measures. A reconciliation between U.S. GAAP and non-GAAP Statement
of Income is provided following the financial statements included in this release. Non-GAAP results exclude share-based compensation,
expenses related to the Special Committee’s review (representing non-recurring cost) and related income tax adjustments where applicable.
Management Comments
“Total revenue in the third quarter was
largely consistent with the prior-year period,” said Moshik Itzkovich, Chief Financial Officer of InMode. “Both U.S. and international
capital equipment revenue remained relatively stable compared to the second quarter of 2026. These results are consistent with the stabilization
we expect to continue through the remainder of the year. We remain focused on disciplined execution and investing in opportunities that
support long-term growth.”
Third Quarter 2026 Financial Results
Total GAAP revenues for the third quarter of 2026 were $92.1 million,
broadly in line with the $93.2 million reported in the prior-year period. Revenues in Asia continued to grow strongly and reached another
quarterly record, reflecting sustained demand across key markets in the region. Quarterly revenues from consumables and service decreased
3% to $19.3 million, compared to the third quarter of 2025.
GAAP gross margin for the third quarter of 2026 was 78%, compared to
78% for the third quarter of 2025.
*Non-GAAP gross margin for the third quarter of 2026 was 78%,
compared to 78% for the third quarter of 2025.
Gross margin for the third quarter of 2026 benefited from a
non-recurring U.S. tariff refund, which increased gross margin by approximately one percentage point.
GAAP operating margin for the third quarter of
2026 was 19%, compared to 22% for the third quarter of 2025. *Non-GAAP operating margin for the third quarter of 2026 was 22%, compared
to 25% for the third quarter of 2025. These decreases were primarily attributable to the restructuring of the North American sales team
implemented toward the end of 2025, increased sales and marketing investments to retain talent and maintain market share, and higher general
and administrative expenses driven by increased professional services costs. These factors are expected to continue to affect expenses
for the foreseeable future.
InMode reported GAAP net income of $18.9 million,
or $0.32 per diluted share, in the third quarter of 2026, compared to $21.9 million, or $0.34 per diluted share, in the third quarter
of 2025. On a *non-GAAP basis, InMode reported net income of $21.9 million, or $0.37 per diluted share, in the third quarter of 2026,
compared to $24.5 million, or $0.38 per diluted share, in the third quarter of 2025.
As of September 30, 2026, InMode had cash and
cash equivalents, marketable securities and short-term bank deposits of $512.7 million.
2026 Financial Outlook
Management reaffirmed its previously
issued financial outlook for the full fiscal year ending December 31, 2026. Based on current estimates, management expects:
| ● | Revenues between $365 million and $375 million |
| ● | *Non-GAAP gross margin between 74% and 76% |
| ● | *Non-GAAP income from operations between $68 million and $73 million |
| ● | *Non-GAAP earnings per diluted share between $1.29 and $1.34 |
These expectations are based on management’s current estimates
and are subject to change.
This outlook is not a guarantee of future performance,
and investors should not place undue reliance on these forward-looking statements. See “Forward-Looking Statements” for additional
information.
*Please refer to “Use of non-GAAP Financial
Measures” below for important information about non-GAAP financial measures. A reconciliation between U.S. GAAP and non-GAAP Statement
of Income is provided following the financial statements included in this release. Non-GAAP results exclude share-based compensation,
expenses related to the Special Committee’s review (representing non-recurring cost) and related income tax adjustments where applicable.
Investor Relations Update
The Special Committee has completed its work and
ceased its activities. The Company will resume its investor relations activities, including participation in investor conferences and
engagement with research analysts and investors. In addition, the Company plans to host an earnings conference call in connection with
the release of its Q4 and full-year 2026 financial results early next year.
The Current Situation in Israel
The scope and severity of ongoing conflicts in
Gaza, northern Israel, Lebanon, Iran, and the broader region are unpredictable and could escalate at any time. To date, our operations
have not been materially affected. We continue to closely monitor political and military developments and to assess their potential consequences
for our operations and assets.
Use of Non-GAAP Financial Measures
In addition to InMode’s operating results
presented in accordance with GAAP, this release contains certain non-GAAP financial measures including non-GAAP net income, non-GAAP earnings
per diluted share, non-GAAP operating margin, non-GAAP gross margin and non-GAAP income from operations. Because these measures are used
in InMode’s internal analysis of financial and operating performance, management believes they provide investors with greater transparency
into its 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 more effectively evaluate and compare InMode’s performance to that
of its peers, although InMode’s presentation of its non-GAAP measures may not be strictly comparable to the similarly titled measures
of other companies. Schedules reconciling each of these non-GAAP financial measures are provided as a supplement to this release. Reconciliations
of non-GAAP gross margin, non-GAAP income from operations, and non-GAAP earnings per diluted share for management’s projections
of such non-GAAP financial measures for the 2026 fiscal year are not available without unreasonable effort due to the variability, complexity
and limited visibility of certain reconciling items, including share-based compensation, expenses related to the Special Committee review
and related income tax adjustments where applicable. These reconciling items could have a significant and unpredictable impact on our
future GAAP results.
About InMode
InMode is a leading global provider of innovative
medical technologies. InMode develops, manufactures, and markets devices harnessing novel radio frequency (“RF”) technology.
InMode strives to enable 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, please 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, including the Private Securities Litigation Reform Act of
1995. These statements generally relate to future events or InMode’s future financial or operating performance, including statements
regarding InMode’s 2026 financial outlook, expected expense trends, anticipated demand for its products, including Morpheus8 Max,
and the Special Committee’s evaluation of unsolicited proposals. 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 10, 2026, and our subsequent 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 speak only as of the date of this press release.
|
Company Contact:
Moshik Itzkovich
Chief Financial Officer
Email: Moshik.Itzkovich@inmodemd.com
|
Investor Relations Contact:
Miri Segal
MS-IR LLC
Email: ir@inmodemd.com
|
INMODE LTD.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(U.S. dollars in thousands, except for per share
data)
(Unaudited)
| | |
Three months ended | | |
Nine months ended | |
| | |
September 30, | | |
September 30, | |
| | |
2026 | | |
2025 | | |
2026 | | |
2025 | |
| REVENUES | |
| 92,138 | | |
| 93,165 | | |
| 269,744 | | |
| 266,641 | |
| COST OF REVENUES | |
| 20,344 | | |
| 20,856 | | |
| 64,882 | | |
| 56,971 | |
| GROSS PROFIT | |
| 71,794 | | |
| 72,309 | | |
| 204,862 | | |
| 209,670 | |
| OPERATING EXPENSES: | |
| | | |
| | | |
| | | |
| | |
| Research and development | |
| 3,862 | | |
| 3,543 | | |
| 11,060 | | |
| 9,810 | |
| Sales and marketing | |
| 45,950 | | |
| 44,970 | | |
| 139,700 | | |
| 132,171 | |
| General and administrative | |
| 4,474 | | |
| 2,899 | | |
| 14,281 | | |
| 8,293 | |
| TOTAL OPERATING EXPENSES | |
| 54,286 | | |
| 51,412 | | |
| 165,041 | | |
| 150,274 | |
| OPERATING INCOME | |
| 17,508 | | |
| 20,897 | | |
| 39,821 | | |
| 59,396 | |
| Finance income, net | |
| 4,710 | | |
| 4,721 | | |
| 16,438 | | |
| 19,642 | |
| INCOME BEFORE INCOME TAXES | |
| 22,218 | | |
| 25,618 | | |
| 56,259 | | |
| 79,038 | |
| INCOME TAXES | |
| 3,355 | | |
| 3,755 | | |
| 8,770 | | |
| 12,232 | |
| NET INCOME | |
| 18,863 | | |
| 21,863 | | |
| 47,489 | | |
| 66,806 | |
| | |
| | | |
| | | |
| | | |
| | |
| EARNINGS PER SHARE: | |
| | | |
| | | |
| | | |
| | |
| Basic | |
| 0.33 | | |
| 0.35 | | |
| 0.79 | | |
| 1.03 | |
| Diluted | |
| 0.32 | | |
| 0.34 | | |
| 0.78 | | |
| 1.02 | |
| WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING USED IN COMPUTATION OF EARNINGS PER SHARE (in thousands) | |
| | | |
| | | |
| | | |
| | |
| Basic | |
| 57,568 | | |
| 63,291 | | |
| 59,932 | | |
| 65,072 | |
| Diluted | |
| 58,248 | | |
| 63,868 | | |
| 60,665 | | |
| 65,727 | |
INMODE LTD.
CONDENSED CONSOLIDATED BALANCE SHEETS
(U.S. dollars in thousands)
(Unaudited)
| | |
| | |
| |
| Assets | |
| | | |
| | |
| CURRENT ASSETS: | |
| | | |
| | |
| Cash and cash equivalents | |
| 397,111 | | |
| 302,543 | |
| Marketable securities | |
| 4,700 | | |
| 83,632 | |
| Short-term bank deposits | |
| 110,916 | | |
| 169,159 | |
| Accounts receivable, net of allowance for credit losses | |
| 49,955 | | |
| 43,504 | |
| Prepaid expenses and other receivables | |
| 35,705 | | |
| 25,733 | |
| Inventories | |
| 72,415 | | |
| 74,050 | |
| TOTAL CURRENT ASSETS | |
| 670,802 | | |
| 698,621 | |
| NON-CURRENT ASSETS: | |
| | | |
| | |
| Accounts receivable, net of allowance for credit losses | |
| 6,124 | | |
| 3,005 | |
| Deferred income tax assets | |
| 52,076 | | |
| 53,230 | |
| Operating lease right-of-use assets | |
| 8,182 | | |
| 8,274 | |
| Property and equipment, net | |
| 2,591 | | |
| 2,599 | |
| Other investments | |
| 700 | | |
| 700 | |
| TOTAL NON-CURRENT ASSETS | |
| 69,673 | | |
| 67,808 | |
| TOTAL ASSETS | |
| 740,475 | | |
| 766,429 | |
| Liabilities and shareholders’ equity | |
| | | |
| | |
| CURRENT LIABILITIES: | |
| | | |
| | |
| Accounts payable | |
| 17,905 | | |
| 17,912 | |
| Contract liabilities | |
| 15,248 | | |
| 12,093 | |
| Other liabilities | |
| 45,027 | | |
| 40,739 | |
| TOTAL CURRENT LIABILITIES | |
| 78,180 | | |
| 70,744 | |
| NON-CURRENT LIABILITIES: | |
| | | |
| | |
| Contract liabilities | |
| 2,501 | | |
| 3,043 | |
| Other liabilities | |
| 5,000 | | |
| 4,436 | |
| Operating lease liabilities | |
| 3,576 | | |
| 5,008 | |
| TOTAL NON-CURRENT LIABILITIES | |
| 11,077 | | |
| 12,487 | |
| TOTAL LIABILITIES | |
| 89,257 | | |
| 83,231 | |
| | |
| | | |
| | |
| TOTAL SHAREHOLDERS’ EQUITY | |
| 651,218 | | |
| 683,198 | |
| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | |
| 740,475 | | |
| 766,429 | |
INMODE LTD.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(U.S. dollars in thousands)
(Unaudited)
| | |
Three months ended
September 30, | | |
Nine months ended
September 30, | |
| | |
2026 | | |
2025 | | |
2026 | | |
2025 | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | |
| | | |
| | | |
| | | |
| | |
| Net income | |
| 18,863 | | |
| 21,863 | | |
| 47,489 | | |
| 66,806 | |
| Adjustments required to reconcile net income to net cash provided by operating activities: | |
| | | |
| | | |
| | | |
| | |
| Depreciation and amortization | |
| 232 | | |
| 156 | | |
| 586 | | |
| 521 | |
| Share-based compensation expenses | |
| 3,039 | | |
| 2,696 | | |
| 9,446 | | |
| 8,632 | |
| Change in allowance for credit losses of trade receivables | |
| 685 | | |
| 106 | | |
| 1,929 | | |
| 159 | |
| Loss on marketable securities, net | |
| - | | |
| 11 | | |
| - | | |
| 14 | |
| Finance expenses (income), net | |
| (890 | ) | |
| 3,147 | | |
| 217 | | |
| 1,260 | |
| Deferred income taxes | |
| 554 | | |
| 602 | | |
| 1,176 | | |
| 2,064 | |
| Changes in operating assets and liabilities: | |
| | | |
| | | |
| | | |
| | |
| Increase in accounts receivable (current and non-current) | |
| (6,525 | ) | |
| (2,353 | ) | |
| (11,499 | ) | |
| (1,094 | ) |
| Increase in other receivables | |
| (2,935 | ) | |
| (147 | ) | |
| (9,965 | ) | |
| (2,403 | ) |
| Decrease (increase) in inventories | |
| (754 | ) | |
| (3,293 | ) | |
| 1,635 | | |
| (11,855 | ) |
| Increase (decrease) in accounts payable | |
| (887 | ) | |
| (759 | ) | |
| (7 | ) | |
| 2,941 | |
| Increase (decrease) in other liabilities (current and non-current) | |
| 189 | | |
| 564 | | |
| 4,201 | | |
| (2,596 | ) |
| Increase (decrease) in contract liabilities (current and non-current) | |
| (187 | ) | |
| 1,874 | | |
| 2,613 | | |
| (1,866 | ) |
| Net cash provided by operating activities | |
| 11,384 | | |
| 24,467 | | |
| 47,821 | | |
| 62,583 | |
| CASH FLOWS FROM INVESTING ACTIVITIES: | |
| | | |
| | | |
| | | |
| | |
| Investment in short-term deposits | |
| (109,758 | ) | |
| (153,904 | ) | |
| (279,670 | ) | |
| (178,904 | ) |
| Proceeds from short-term deposits | |
| 85,000 | | |
| 103,390 | | |
| 337,570 | | |
| 189,687 | |
| Purchase of fixed assets | |
| (195 | ) | |
| (134 | ) | |
| (578 | ) | |
| (438 | ) |
| Purchase of marketable securities | |
| - | | |
| - | | |
| (9,727 | ) | |
| (20,877 | ) |
| Proceeds from sale of marketable securities | |
| - | | |
| 14,211 | | |
| - | | |
| 17,214 | |
| Proceeds from maturity of marketable securities | |
| 14,203 | | |
| 48,105 | | |
| 88,442 | | |
| 152,127 | |
| Net cash provided by (used in) investing activities | |
| (10,750 | ) | |
| 11,668 | | |
| 136,037 | | |
| 158,809 | |
| CASH FLOWS FROM FINANCING ACTIVITIES: | |
| | | |
| | | |
| | | |
| | |
| Tax withholding related to vesting of restricted share units | |
| - | | |
| - | | |
| (1,802 | ) | |
| - | |
| Repurchase of ordinary shares | |
| - | | |
| - | | |
| (87,752 | ) | |
| (127,444 | ) |
| Exercise of options | |
| 97 | | |
| 249 | | |
| 733 | | |
| 1,248 | |
| Net cash provided by (used in) financing activities | |
| 97 | | |
| 249 | | |
| (88,821 | ) | |
| (126,196 | ) |
| EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS | |
| 207 | | |
| (184 | ) | |
| (469 | ) | |
| 1,912 | |
| NET INCREASE IN CASH AND CASH EQUIVALENTS | |
| 938 | | |
| 36,200 | | |
| 94,568 | | |
| 97,108 | |
| | |
| | | |
| | | |
| | | |
| | |
| CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD | |
| 396,173 | | |
| 216,237 | | |
| 302,543 | | |
| 155,329 | |
| CASH AND CASH EQUIVALENTS AT END OF PERIOD | |
| 397,111 | | |
| 252,437 | | |
| 397,111 | | |
| 252,437 | |
INMODE LTD.
CONDENSED CONSOLIDATED FINANCIAL HIGHLIGHTS
(U.S. dollars in thousands)
(Unaudited)
| | |
Three months ended September 30, | | |
Nine months ended September 30, | |
| | |
2026 | | |
2025 | | |
2026 | | |
2025 | |
| Revenues by Category: | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Capital Equipment revenues - United States | |
| 42,682 | | |
| 46 | % | |
| 45,203 | | |
| 49 | % | |
| 119,435 | | |
| 44 | % | |
| 115,398 | | |
| 44 | % |
| Capital Equipment revenues - International | |
| 30,130 | | |
| 33 | % | |
| 28,063 | | |
| 30 | % | |
| 87,309 | | |
| 33 | % | |
| 91,329 | | |
| 34 | % |
| Total Capital Equipment revenues | |
| 72,812 | | |
| 79 | % | |
| 73,266 | | |
| 79 | % | |
| 206,744 | | |
| 77 | % | |
| 206,727 | | |
| 78 | % |
| Consumables and service revenues | |
| 19,326 | | |
| 21 | % | |
| 19,899 | | |
| 21 | % | |
| 63,000 | | |
| 23 | % | |
| 59,914 | | |
| 22 | % |
| Total Revenue | |
| 92,138 | | |
| 100 | % | |
| 93,165 | | |
| 100 | % | |
| 269,744 | | |
| 100 | % | |
| 266,641 | | |
| 100 | % |
| | |
Three months ended September 30, | | |
Nine months ended September 30, | |
| | |
2026 | | |
2025 | | |
2026 | | |
2025 | |
| | |
% | | |
% | | |
% | | |
% | |
| | |
United States | | |
International | | |
Total | | |
United States | | |
International | | |
Total | | |
United States | | |
International | | |
Total | | |
United States | | |
International | | |
Total | |
| Revenues by Technology: | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Minimal-Invasive | |
| 80 | | |
| 77 | | |
| 78 | | |
| 75 | | |
| 76 | | |
| 75 | | |
| 75 | | |
| 77 | | |
| 76 | | |
| 79 | | |
| 79 | | |
| 80 | |
| Hands-Free | |
| - | | |
| 2 | | |
| 1 | | |
| 2 | | |
| 1 | | |
| 2 | | |
| 1 | | |
| 1 | | |
| 1 | | |
| 3 | | |
| 2 | | |
| 2 | |
| Non-Invasive | |
| 20 | | |
| 21 | | |
| 21 | | |
| 23 | | |
| 23 | | |
| 23 | | |
| 24 | | |
| 22 | | |
| 23 | | |
| 18 | | |
| 19 | | |
| 18 | |
| | |
| 100 | | |
| 100 | | |
| 100 | | |
| 100 | | |
| 100 | | |
| 100 | | |
| 100 | | |
| 100 | | |
| 100 | | |
| 100 | | |
| 100 | | |
| 100 | |
INMODE LTD.
RECONCILIATION OF GAAP CONDENSED CONSOLIDATED
STATEMENTS OF
INCOME TO NON-GAAP CONDENSED CONSOLIDATED STATEMENTS
OF INCOME
(U.S. dollars in thousands, except for per share
data)
(Unaudited)
| | |
Three months ended September 30, 2026 | | |
Three months ended September 30, 2025 | |
| | |
GAAP | | |
Stock Based Compensation | | |
Non-GAAP | | |
GAAP | | |
Stock Based Compensation | | |
Non-GAAP | |
| REVENUES | |
| 92,138 | | |
| - | | |
| 92,138 | | |
| 93,165 | | |
| - | | |
| 93,165 | |
| COST OF REVENUES | |
| 20,344 | | |
| (315 | ) | |
| 20,029 | | |
| 20,856 | | |
| (343 | ) | |
| 20,513 | |
| GROSS PROFIT | |
| 71,794 | | |
| 315 | | |
| 72,109 | | |
| 72,309 | | |
| 343 | | |
| 72,652 | |
| OPERATING EXPENSES: | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Research and development | |
| 3,862 | | |
| (292 | ) | |
| 3,570 | | |
| 3,543 | | |
| (274 | ) | |
| 3,269 | |
| Sales and marketing | |
| 45,950 | | |
| (2,091 | ) | |
| 43,859 | | |
| 44,970 | | |
| (1,804 | ) | |
| 43,166 | |
| General and administrative | |
| 4,474 | | |
| (341 | ) | |
| 4,133 | | |
| 2,899 | | |
| (275 | ) | |
| 2,624 | |
| TOTAL OPERATING EXPENSES | |
| 54,286 | | |
| (2,724 | ) | |
| 51,562 | | |
| 51,412 | | |
| (2,353 | ) | |
| 49,059 | |
| OPERATING INCOME | |
| 17,508 | | |
| 3,039 | | |
| 20,547 | | |
| 20,897 | | |
| 2,696 | | |
| 23,593 | |
| Finance income, net | |
| 4,710 | | |
| - | | |
| 4,710 | | |
| 4,721 | | |
| - | | |
| 4,721 | |
| INCOME BEFORE INCOME TAXES | |
| 22,218 | | |
| 3,039 | | |
| 25,257 | | |
| 25,618 | | |
| 2,696 | | |
| 28,314 | |
| INCOME TAXES | |
| 3,355 | | |
| - | | |
| 3,355 | | |
| 3,755 | | |
| 27 | | |
| 3,782 | |
| NET INCOME | |
| 18,863 | | |
| 3,039 | | |
| 21,902 | | |
| 21,863 | | |
| 2,669 | | |
| 24,532 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| EARNINGS PER SHARE | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Basic | |
| 0.33 | | |
| | | |
| 0.38 | | |
| 0.35 | | |
| | | |
| 0.39 | |
| Diluted | |
| 0.32 | | |
| | | |
| 0.37 | | |
| 0.34 | | |
| | | |
| 0.38 | |
| WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING USED IN COMPUTATION OF EARNINGS PER SHARE (in Thousands) | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Basic | |
| 57,568 | | |
| | | |
| 57,568 | | |
| 63,291 | | |
| | | |
| 63,291 | |
| Diluted | |
| 58,248 | | |
| | | |
| 58,758 | | |
| 63,868 | | |
| | | |
| 64,531 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| | |
Nine months ended September 30, 2026 | | |
Nine months ended September 30, 2025 | |
| | |
GAAP | | |
Stock Based Compensation | | |
Expenses Related to Special Committee Review | | |
Non-GAAP | | |
GAAP | | |
Stock Based Compensation | | |
Non-GAAP | |
| REVENUES | |
| 269,744 | | |
| - | | |
| - | | |
| 269,744 | | |
| 266,641 | | |
| - | | |
| 266,641 | |
| COST OF REVENUES | |
| 64,882 | | |
| (931 | ) | |
| - | | |
| 63,951 | | |
| 56,971 | | |
| (987 | ) | |
| 55,984 | |
| GROSS PROFIT | |
| 204,862 | | |
| 931 | | |
| - | | |
| 205,793 | | |
| 209,670 | | |
| 987 | | |
| 210,657 | |
| OPERATING EXPENSES: | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Research and development | |
| 11,060 | | |
| (842 | ) | |
| - | | |
| 10,218 | | |
| 9,810 | | |
| (783 | ) | |
| 9,027 | |
| Sales and marketing | |
| 139,700 | | |
| (6,477 | ) | |
| - | | |
| 133,223 | | |
| 132,171 | | |
| (6,096 | ) | |
| 126,075 | |
| General and administrative | |
| 14,281 | | |
| (1,196 | ) | |
| (1,262 | ) | |
| 11,823 | | |
| 8,293 | | |
| (766 | ) | |
| 7,527 | |
| TOTAL OPERATING EXPENSES | |
| 165,041 | | |
| (8,515 | ) | |
| (1,262 | ) | |
| 155,264 | | |
| 150,274 | | |
| (7,645 | ) | |
| 142,629 | |
| OPERATING INCOME | |
| 39,821 | | |
| 9,446 | | |
| 1,262 | | |
| 50,529 | | |
| 59,396 | | |
| 8,632 | | |
| 68,028 | |
| Finance income, net | |
| 16,438 | | |
| - | | |
| - | | |
| 16,438 | | |
| 19,642 | | |
| - | | |
| 19,642 | |
| INCOME BEFORE INCOME TAXES | |
| 56,259 | | |
| 9,446 | | |
| 1,262 | | |
| 66,967 | | |
| 79,038 | | |
| 8,632 | | |
| 87,670 | |
| INCOME TAXES | |
| 8,770 | | |
| (389 | ) | |
| - | | |
| 8,381 | | |
| 12,232 | | |
| (628 | ) | |
| 11,604 | |
| NET INCOME | |
| 47,489 | | |
| 9,835 | | |
| 1,262 | | |
| 58,586 | | |
| 66,806 | | |
| 9,260 | | |
| 76,066 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| EARNINGS PER SHARE | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Basic | |
| 0.79 | | |
| | | |
| | | |
| 0.98 | | |
| 1.03 | | |
| | | |
| 1.17 | |
| Diluted | |
| 0.78 | | |
| | | |
| | | |
| 0.96 | | |
| 1.02 | | |
| | | |
| 1.15 | |
| WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING USED IN COMPUTATION OF EARNINGS PER SHARE (in Thousands) | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Basic | |
| 59,932 | | |
| | | |
| | | |
| 59,932 | | |
| 65,072 | | |
| | | |
| 65,072 | |
| Diluted | |
| 60,665 | | |
| | | |
| | | |
| 61,118 | | |
| 65,727 | | |
| | | |
| 66,199 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
