YOKNEAM, Israel, Aug. 5, 2020
/PRNewswire/ -- InMode Ltd. (Nasdaq: INMD) ("InMode"), a leading
global provider of innovative medical technologies, today announced
consolidated financial results for its second quarter ended
June 30, 2020.
Second Quarter 2020 Highlights:
- Quarterly revenue of $30.8
million, a decrease of 21% compared to the second quarter of
2019; approximately 53% of U.S. quarterly revenues derived from our
proprietary surgical technology platforms engaged in minimally
invasive and subdermal ablative treatments, approximately 46% of
U.S. quarterly revenues derived from our recently introduced
hands-free platforms and approximately 1% derived from our
traditional laser and non-invasive RF platforms
- GAAP net income of $8.6 million,
compared to $15.8 million in the
second quarter of 2019; *non-GAAP net income of $10.1 million, compared to $16.1 million in the second quarter of 2019
- GAAP diluted earnings per share of $0.21 compared to $0.45 in the second quarter of 2019; *non-GAAP
diluted earnings per share of $0.24
compared to $0.45 in the second
quarter of 2019
- Total cash position of $203.4
million as of June 30, 2020,
including cash and cash equivalents, marketable securities and
short-term bank deposits
U.S. GAAP
Results
(U.S. dollars in
thousands, except for per share data)
|
|
Q2 2020
|
Q2
2019
|
Revenues
|
$30,765
|
$38,797
|
Gross
Margins
|
85%
|
87%
|
Net Income
Attributable to InMode Ltd.
|
$8,588
|
$15,797
|
Earnings per Diluted
Share
|
$0.21
|
$0.45
|
*Non-GAAP
Results (U.S. dollars in
thousands, except for per share data)
|
|
Q2 2020
|
Q2
2019
|
Net Income
Attributable to InMode Ltd.
|
$10,096
|
$16,081
|
Earnings per Diluted
Share
|
$0.24
|
$0.45
|
|
*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 that are included in this release. Non-GAAP results
exclude share-based compensation and related tax
adjustments.
|
Management Comments
"The second quarter of 2020 was both challenging and
encouraging. In June, after three months of global shutdowns
relating to the global COVID-19 pandemic, elective surgeries began
to come back throughout the United
States and internationally, and aesthetic surgeons re-opened
their clinics, which allowed for one month of sales and marketing
operation in the quarter. Our continued commitment to the welfare
of employees and customers, and our decision not to downsize our
sales and marketing organization during the shutdown, unlike some
of our competitors, proved to be instrumental in allowing us to act
quickly and continue to capture market share," commented
Moshe Mizrahy, InMode's CEO.
"During the quarter, we leveraged our InMode
University platform for securing customer relationships,
strengthening our brand, training our experienced sales team and
physicians on InMode's hands-free technology and platforms, and
ultimately generating sales as restrictions loosened. Given our
commitment to the future, we continued to invest in our direct
marketing and sales organization," commented Shakil Lakhani, President of North America.
"In addition, we made progress in our clinical and regulatory
processes internationally. In June, we were excited to receive the
Health Canada certification for Evolve Tone, which is Canada's first and only all-in-one hands-free
device consisting of three unique body remodeling technologies-
Tite, Trim and Tone. Furthermore, in July, we received clearance
from the China National Medical Products Administration (NMPA) for
two proprietary InMode RF platforms, which we believe is a
significant milestone as we continue to expand our global
footprint," noted Dr. Spero
Theodorou, InMode's Chief Medical Officer.
"As we continue to build out our organization in a safe and
conscientious manner, we believe our unique and innovative R&D
pipeline for our product portfolio will attract both physicians and
patients post-crisis, as the desire for minimally invasive and
hands-free alternatives is expected to move to the forefront of
consumer decision-making," added Dr. Michael Kreindel, InMode's Chief Technology
Officer.
2020 Guidance
We expect that our revenue for the full year of 2020 will be
between $156-$160 million, and we intend to maintain a gross
margin of 84%-86%.
This outlook is not a guarantee of future performance and
stockholders should not rely on such forward-looking statements.
See "Forward-Looking Statements" for additional
information.
Second Quarter 2020 Financial Results
Total revenues for the second quarter of 2020 were $30.8 million, a decrease of 21% as compared to
the second quarter of 2019. The decrease in revenue was primarily
due to the impact of the global COVID-19 pandemic, in which the
U.S. market had significantly reduced activity during the economic
standstill and shutdowns in April and May. Nonetheless, InMode
continued to gain traction in international markets, with
international revenue growing 10% year-over-year.
Gross margin for the second quarter of 2020 was 85% compared to
a gross margin of 87% in the second quarter of 2019. This decrease
is primarily attributable to the expansion of our operations team,
as well as an increase in the cost of certain parts and materials
due to the impact of the global COVID-19 pandemic.
GAAP operating margin for the second quarter of 2020 was 26%,
compared to 41% in the second quarter of 2019. *Non-GAAP operating
margin for the second quarter of 2020 was 30%, compared to 42% in
the second quarter of 2019. This decrease was primarily
attributable to the sales cycle in April and May being interrupted
by the global COVID-19 pandemic, and as a result, marketing
expenditure did not translate into sales during those months.
InMode reported GAAP net income attributable to
InMode Ltd. of $8.6
million, or $0.21 per diluted
share in the second quarter of 2020 compared to $15.8 million, or $0.45 per diluted share, in the second quarter of
2019. On a *non-GAAP basis, InMode reported net income attributable
to InMode Ltd. of $10.1 million, or
$0.24 per diluted share in the second
quarter of 2020 compared to $16.1
million, or $0.45 per diluted
share, in the second quarter of 2019.
"Our strong balance sheet, profitable business model and
positive cashflow, which continued to be present throughout the
COVID-19 crisis, has been one of InMode's main strengths and
competitive advantages, and has allowed us to continue our growth
momentum in the United States and
internationally," noted Yair Malca,
InMode's CFO.
*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 that are included in
this release. Non-GAAP results exclude share-based compensation and
related tax adjustments.
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 diluted
earnings per 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 more effectively 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.
Schedules reconciling each of these non-GAAP financial measures are
provided as a supplement to this release.
Conference Call Information
Mr. Moshe Mizrahy, Chairman and Chief Executive
Officer, Dr. Michael Kreindel,
co-founder and Chief Technology Officer, Mr. Yair Malca, Chief
Financial Officer, Mr. Shakil
Lakhani, President of North
America, and Dr. Spero
Theodorou, Chief Medical Officer, will host a conference
call today, August 5, 2020, at 8:30 a.m. Eastern Time to
discuss the second quarter 2020 financial results.
The Company encourages participants to pre-register for the
conference call using the following link:
http://dpregister.com/10145846. Callers will receive a unique
dial-in upon registration, which enables immediate access to 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 ten 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 Dial-in Number:
1-866-777-2509
Israel Toll- Free Dial-in
Number: 1-80-921-2373
International Dial-in Number: 1-412-317-5413
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 August 5,
2020 at 12 p.m. Eastern Time to August 12,
2020 at 11:59 p.m. Eastern Time. To access the replay,
please dial one of the following numbers:
Replay Dial-in U.S
TOLL-FREE: 1-877-344-7529
Replay Dial-in Canada TOLL-FREE: 855-669-9658
Replay Dial-in TOLL/INTERNATIONAL: 1-412-317-0088
Replay Pin Number: 10145846
A replay will also be available for 90 days on InMode's website
at https://inmodemd.com/investors/.
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 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, 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. 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 "2020
Guidance". 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,
strategy 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. As a result, 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
F-20 filed with the Securities and Exchange Commission on
February 18, 2020, 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 speak only as of the date of this press release.
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
|
INMODE
LTD.
|
CONDENSED
CONSOLIDATED STATEMENTS OF INCOME
|
(U.S. dollars in
thousands, except for per share data)
|
(Unaudited)
|
|
|
Three months
ended
June 30,
|
Six months
ended
June 30,
|
|
2020
|
2019
|
2020
|
2019
|
REVENUES
|
30,765
|
38,797
|
71,206
|
69,349
|
COST OF
REVENUES
|
4,695
|
4,875
|
10,879
|
9,146
|
GROSS
PROFIT
|
26,070
|
33,922
|
60,327
|
60,203
|
OPERATING
EXPENSES:
|
|
|
|
|
Research and
development
|
1,816
|
1,584
|
5,248
|
2,783
|
Sales and
marketing
|
14,536
|
15,898
|
37,535
|
29,995
|
General and
administrative
|
1,613
|
713
|
3,436
|
1,766
|
TOTAL OPERATING
EXPENSES
|
17,965
|
18,195
|
46,219
|
34,544
|
INCOME FROM
OPERATIONS
|
8,105
|
15,727
|
14,108
|
25,659
|
Finance income,
net
|
636
|
382
|
1,265
|
785
|
INCOME BEFORE
TAXES
|
8,741
|
16,109
|
15,373
|
26,444
|
INCOME
TAXES
|
161
|
274
|
302
|
451
|
NET
INCOME
|
8,580
|
15,835
|
15,071
|
25,993
|
Add: Loss (net income)
attributable to non-controlling interests
|
8
|
(38)
|
(50)
|
(72)
|
NET INCOME
ATTRIBUTABLE TO INMODE LTD.
|
8,588
|
15,797
|
15,021
|
25,921
|
|
|
|
|
|
NET INCOME PER
SHARE (1):
|
|
|
|
|
Basic
|
0.24
|
0.58
|
0.43
|
0.96
|
Diluted
|
0.21
|
0.45
|
0.36
|
0.73
|
WEIGHTED AVERAGE
NUMBER OF SHARES OUTSTANDING
USED IN COMPUTATION OF NET INCOME PER SHARE (1)
|
|
|
|
|
Basic
|
35,943
|
26,963
|
34,956
|
26,891
|
Diluted
|
41,733
|
35,344
|
41,709
|
35,334
|
|
(1) The number shares
have been adjusted retroactively for a 1-for-1.789 stock split of
InMode shares by way of an
issuance of bonus shares, that occurred pursuant to a resolution of
our board of directors dated July 24, 2019.
|
INMODE
LTD.
|
CONDENSED
CONSOLIDATED BALANCE SHEETS
|
(U.S. dollars in
thousands, except for per share data)
|
(Unaudited)
|
|
|
June
30,
2020
|
December
31,
2019
|
Assets
|
|
|
CURRENT
ASSETS:
|
|
|
Cash and cash
equivalents
|
64,767
|
44,727
|
Marketable
securities
|
106,668
|
120,144
|
Short-term bank
deposits
|
31,971
|
28,491
|
Accounts receivable,
net of allowance for doubtful accounts
|
8,608
|
6,628
|
Other
receivables
|
5,327
|
3,810
|
Inventories
|
16,227
|
9,408
|
TOTAL CURRENT
ASSETS
|
233,568
|
213,208
|
NON-CURRENT
ASSETS:
|
|
|
Accounts
receivable
|
383
|
374
|
Deferred income taxes,
net
|
993
|
1,899
|
Operating lease
right-of-use assets
|
1,413
|
1,369
|
Property and
equipment, net
|
1,061
|
935
|
Other
investments
|
600
|
600
|
TOTAL NON-CURRENT
ASSETS
|
4,450
|
5,177
|
TOTAL
ASSETS
|
238,018
|
218,385
|
|
|
|
Liabilities and
shareholders' equity
|
|
|
CURRENT
LIABILITIES:
|
|
|
Accounts
payable
|
4,026
|
3,702
|
Contract
liabilities
|
10,283
|
15,587
|
Other
liabilities
|
13,503
|
13,205
|
TOTAL CURRENT
LIABILITIES
|
27,812
|
32,494
|
NON-CURRENT
LIABILITIES:
|
|
|
Contract
liabilities
|
2,447
|
3,813
|
Other
liabilities
|
1,836
|
1,494
|
Operating lease
liabilities
|
660
|
744
|
Deferred income taxes,
net
|
107
|
37
|
TOTAL NON-CURRENT
LIABILITIES
|
5,050
|
6,088
|
TOTAL
LIABILITIES
|
32,862
|
38,582
|
|
|
|
TOTAL
SHAREHOLDERS' EQUITY
|
205,156
|
179,803
|
TOTAL LIABILITIES
AND SHAREHOLDERS' EQUITY
|
238,018
|
218,385
|
INMODE
LTD.
|
CONDENSED
CONSOLIDATED STATEMENTS OF CASH FLOWS
|
(U.S. dollars in
thousands, except for per share data)
|
(Unaudited)
|
|
|
|
Three months
ended
June 30,
|
Six months
ended
June 30,
|
|
2020
|
2019
|
2020
|
2019
|
CASH FLOWS FROM
OPERATING ACTIVITIES:
|
|
|
|
|
Net income
|
8,580
|
15,835
|
15,071
|
25,993
|
Adjustments required
to reconcile net income to net cash
provided by operating activities:
|
|
|
|
|
Depreciation and
amortization
|
105
|
74
|
199
|
137
|
Share-based
compensation expenses
|
1,160
|
412
|
7,210
|
814
|
Allowance for doubtful
accounts
|
160
|
19
|
466
|
78
|
Gains on marketable
securities, net
|
(3)
|
-
|
(9)
|
-
|
Finance expenses
(income), net
|
79
|
(126)
|
268
|
(309)
|
Deferred income taxes,
net
|
458
|
(77)
|
826
|
(143)
|
Changes in operating
assets and liabilities:
|
|
|
|
|
Decrease (increase) in
accounts receivable
|
(3,045)
|
1,580
|
(2,455)
|
1,727
|
Decrease (increase) in
other receivables
|
63
|
291
|
(1,497)
|
1,164
|
Increase in
inventories
|
(4,141)
|
(524)
|
(6,819)
|
(653)
|
Increase (decrease) in
accounts payable
|
(690)
|
1,085
|
324
|
70
|
Increase in other
liabilities
|
2,323
|
465
|
530
|
16
|
Increase (decrease) in
contract liabilities
|
(3,725)
|
(533)
|
(6,670)
|
2,378
|
Decrease in accrued
contingencies
|
-
|
-
|
-
|
(10,000)
|
Net cash provided by
operating activities
|
1,324
|
18,501
|
7,444
|
21,272
|
CASH FLOWS FROM
INVESTING ACTIVITIES:
|
|
|
|
|
Investment in
short-term deposit
|
(15,090)
|
(6,090)
|
(31,609)
|
(17,090)
|
Proceeds from
short-term deposit
|
13,590
|
5,000
|
28,090
|
10,000
|
Purchase of fixed
assets
|
(226)
|
(86)
|
(325)
|
(464)
|
Purchase of marketable
securities
|
(34,376)
|
(9,421)
|
(78,309)
|
(14,339)
|
Proceeds from sale of
marketable securities
|
53,712
|
2,000
|
92,286
|
4,603
|
Net cash provided by
(used in) investing activities
|
17,610
|
(8,597)
|
10,133
|
(17,290)
|
CASH FLOWS FROM
FINANCING ACTIVITIES:
|
|
|
|
|
Exercise of
options
|
549
|
15
|
2,550
|
137
|
Net cash provided by
financing activities
|
549
|
15
|
2,550
|
137
|
EFFECT OF EXCHANGE
RATE CHANGES ON CASH
|
146
|
7
|
(87)
|
37
|
NET INCREASE IN
CASH AND CASH EQUIVALENTS
|
19,629
|
9,926
|
20,040
|
4,156
|
|
|
|
|
|
CASH AND CASH
EQUIVALENTS AT BEGINNING OF
PERIOD
|
45,138
|
18,951
|
44,727
|
24,721
|
CASH AND CASH
EQUIVALENTS AT END OF PERIOD
|
64,767
|
28,877
|
64,767
|
28,877
|
INMODE
LTD.
|
CONDENSED
CONSOLIDATED FINANCIAL HIGHLIGHTS
|
(U.S. dollars in
thousands, except for per share data)
|
(Unaudited)
|
|
|
Three months
ended
June 30,
|
Six months
ended
June 30,
|
2020
|
2019
|
2020
|
2019
|
Revenues by
Geography:
|
|
|
|
|
United
States
|
24,060
|
32,721
|
54,883
|
56,806
|
International
|
6,705
|
6,076
|
16,323
|
12,543
|
Total Net
Revenue
|
30,765
|
38,797
|
71,206
|
69,349
|
U.S. as percentage of
total revenue
|
78%
|
84%
|
77%
|
82%
|
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
June 30, 2020
|
Three months ended
June 30, 2019
|
GAAP
|
Share
Based
Compensation
|
Non-GAAP
|
GAAP
|
Share
Based
Compensation
|
Non-GAAP
|
REVENUES
|
30,765
|
-
|
30,765
|
38,797
|
-
|
38,797
|
COST OF
REVENUES
|
4,695
|
(149)
|
4,546
|
4,875
|
(22)
|
4,853
|
GROSS
PROFIT
|
26,070
|
149
|
26,219
|
33,922
|
22
|
33,944
|
OPERATING
EXPENSES:
|
|
|
|
|
|
|
Research and
development
|
1,816
|
(122)
|
1,694
|
1,584
|
(56)
|
1,528
|
Sales and
marketing
|
14,536
|
(757)
|
13,779
|
15,898
|
(309)
|
15,589
|
General and
administrative
|
1,613
|
(132)
|
1,481
|
713
|
(25)
|
688
|
TOTAL
OPERATING
EXPENSES
|
17,965
|
(1,011)
|
16,954
|
18,195
|
(390)
|
17,805
|
INCOME FROM
OPERATIONS
|
8,105
|
1,160
|
9,265
|
15,727
|
412
|
16,139
|
Finance income,
net
|
636
|
-
|
636
|
382
|
-
|
382
|
INCOME BEFORE
TAXES
|
8,741
|
1,160
|
9,901
|
16,109
|
412
|
16,521
|
INCOME TAXES
(TAX
BENEFIT)
|
161
|
(348)
|
(187)
|
274
|
128
|
402
|
NET
INCOME
|
8,580
|
1,508
|
10,088
|
15,835
|
284
|
16,119
|
Add: Loss (net
income)
attributable to non-controlling
interests
|
8
|
-
|
8
|
(38)
|
-
|
(38)
|
NET INCOME
ATTRIBUTABLE TO
INMODE LTD.
|
8,588
|
1,508
|
10,096
|
15,797
|
284
|
16,081
|
|
|
|
|
|
|
|
NET INCOME
PER
SHARE (1):
|
|
|
|
|
|
|
Basic
|
0.24
|
|
0.28
|
0.58
|
|
0.59
|
Diluted
|
0.21
|
|
0.24
|
0.45
|
|
0.45
|
WEIGHTED
AVERAGE
NUMBER OF SHARES
OUTSTANDING USED IN
COMPUTATION OF NET
INCOME PER SHARE (1)
|
|
|
|
|
|
|
Basic
|
35,943
|
|
35,943
|
26,963
|
|
26,963
|
Diluted
|
41,733
|
|
42,009
|
35,344
|
|
35,429
|
|
(1) The number of
shares have been adjusted retroactively for a 1-for-1.789 stock
split of InMode shares by way of
an issuance of bonus shares, that occurred pursuant to a resolution
of our board of directors dated July 24, 2019
|
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)
|
|
|
Six months ended
June 30, 2020
|
Six months ended
June 30, 2019
|
GAAP
|
Share
Based
Compensation
|
Non-GAAP
|
GAAP
|
Share
Based
Compensation
|
Non-GAAP
|
REVENUES
|
71,206
|
-
|
71,206
|
69,349
|
-
|
69,349
|
COST OF
REVENUES
|
10,879
|
(225)
|
10,654
|
9,146
|
(41)
|
9,105
|
GROSS
PROFIT
|
60,327
|
225
|
60,552
|
60,203
|
41
|
60,244
|
OPERATING
EXPENSES:
|
|
|
|
|
|
|
Research and
development
|
5,248
|
(2,008)
|
3,240
|
2,783
|
(108)
|
2,675
|
Sales and
marketing
|
37,535
|
(4,595)
|
32,940
|
29,995
|
(617)
|
29,378
|
General and
administrative
|
3,436
|
(382)
|
3,054
|
1,766
|
(48)
|
1,718
|
TOTAL
OPERATING
EXPENSES
|
46,219
|
(6,985)
|
39,234
|
34,544
|
(773)
|
33,771
|
INCOME FROM
OPERATIONS
|
14,108
|
7,210
|
21,318
|
25,659
|
814
|
26,473
|
Finance income,
net
|
1,265
|
-
|
1,265
|
785
|
-
|
785
|
INCOME BEFORE
TAXES
|
15,373
|
7,210
|
22,583
|
26,444
|
814
|
27,258
|
INCOME TAXES
(TAX
BENEFIT)
|
302
|
(424)
|
(122)
|
451
|
168
|
619
|
NET
INCOME
|
15,071
|
7,634
|
22,705
|
25,993
|
646
|
26,639
|
Add: Loss (net
income)
attributable to non-controlling
interests
|
(50)
|
-
|
(50)
|
(72)
|
-
|
(72)
|
NET INCOME
ATTRIBUTABLE TO
INMODE LTD.
|
15,021
|
7,634
|
22,655
|
25,921
|
646
|
26,567
|
|
|
|
|
|
|
|
NET INCOME
PER
SHARE (1):
|
|
|
|
|
|
|
Basic
|
0.43
|
|
0.65
|
0.96
|
|
0.98
|
Diluted
|
0.36
|
|
0.54
|
0.73
|
|
0.75
|
WEIGHTED
AVERAGE
NUMBER OF SHARES
OUTSTANDING USED IN
COMPUTATION OF NET
INCOME PER SHARE (1)
|
|
|
|
|
|
|
Basic
|
34,956
|
|
34,956
|
26,891
|
|
26,891
|
Diluted
|
41,709
|
|
41,922
|
35,334
|
|
35,423
|
|
(1) The number of
shares have been adjusted retroactively for a 1-for-1.789 stock
split of InMode shares by way of
an issuance of bonus
shares, that occurred pursuant to a resolution of our board of
directors dated July 24, 2019
|
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SOURCE InMode Ltd.