Conference call to be held on Thursday, Nov. 2, 2023,
at 8:30 a.m. Eastern Time
YOKNEAM, Israel,
Oct. 12,
2023 /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 third quarter of 2023
before the Nasdaq market opens on Thursday, Nov. 2, 2023.
InMode is currently finalizing its financial results for the
three months ended Sept. 30, 2023.
While complete financial information and operating data are not yet
available, set forth below are certain preliminary financial
results for such period, subject to final adjustments and further
review as well as other developments that may arise between now and
the time such financial results are finalized.
According to management, factors stemming from economic slowdown
may impact InMode's platform sales this year. In part, this
downtick constitutes a return to "normal" third-quarter
seasonality, slower purchase decisions due to lower aesthetic
activity during the summer. Moreover, constraints in financing of
medical equipment, marked by higher interest rates, tighter leasing
approval standards, and bottlenecks in loan processing, have also
dampened InMode platform sales activity worldwide.
Based on these preliminary results, management expects:
- Revenue for the third quarter of 2023 to be in the range
of $122.8 million to $123.0 million
- Non-GAAP earnings1 per diluted share for the
third quarter of 2023 to be in the range
of $0.59 to $0.60
- Revenue for the full year of 2023 to be in the range of
$500 million to $510 million vs. previous estimates of
revenue between $530 million and $540
million
- 1Non-GAAP gross margin for the third quarter of 2023
in the range of 83% to 85%
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.
Members of InMode's management team will host a conference call
to discuss the third quarter 2023 financial results
on Thursday, Nov. 2, at 8:30 a.m. Eastern Time.
Participants will include Moshe Mizrahy, Chairman and Chief
Executive Officer; Dr. Michael Kreindel, co-founder, and Chief
Technology Officer; Yair Malca, Chief Financial
Officer; Shakil Lakhani, President of North America; and
Dr. Spero Theodorou, Chief Medical Officer.
The Company encourages participants to pre-register for
the conference call using the following
link: https://dpregister.com/sreg/10183086/fa97575b36
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
URL: https://event.choruscall.com/mediaframe/webcast.html?webcastid=5EQBwtdf
At:
8:30 a.m. Eastern Time/ 5:30 a.m. Pacific Time/ 3:30 p.m. Israel Time
The conference call will also be webcast live from a link on
InMode's website
at https://inmodemd.com/investors/events-presentations/.
A replay of the conference call will be available from Nov.
2, 2023, at 12:00 p.m. Eastern Time to Nov. 16,
2023, 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: 2198302
A replay will also be available for 90 days on InMode's website
at: https://inmodemd.com/investors/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 the future
performance described above under the heading titled "2023
Financial Outlook." 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, including with respect to the impact of the
COVID-19 global outbreak. 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 14, 2023, as well as risk factors
relating to the COVID-19 global outbreak 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.
Company Contact:
Yair Malca
Chief Financial Officer
Phone: (949) 305-0108
Email: Yair.Malca@inmodemd.com
Investor Relations Contact:
Miri Segal
MS-IR LLC
Phone: (917) 607-8654
Email: ir@inmodemd.com
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SOURCE InMode Ltd.
