YOKNEAM, Israel, Dec. 6, 2023
/PRNewswire/ -- InMode Ltd. (Nasdaq: INMD), a
leading global provider of innovative medical technologies,
announced today that it is revising its full-year 2023
guidance.
According to management, this revision is primarily due to
stronger-than-expected headwinds from the current macroeconomic
environment, resulting in a slowdown in platform sales, mainly in
North America.
Based on current estimates, management expects:
- Revenue for the full year 2023 to be in the range of
$485 million to $495 million, as compared to the prior estimated
range of $500 million to $510 million.
- Non-GAAP gross margin[1] for the third quarter of
2023 to remain in the range of 83% to 85%.
- Non-GAAP income[1] from operations to be in the
range of $214 million to $218 million, as compared to the prior estimated
range of $220 million to $225 million.
- Non-GAAP earnings[1] per diluted share for the
full year 2023 to be in the range of $2.47 to $2.50, as compared to the prior estimated range
of $2.53 to $2.57.
1. Please refer to "Use of Non-GAAP Financial
Measures" below for important information about non-GAAP financial
measures. Non-GAAP results exclude share-based
compensation.
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. 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 14, 2023, as well as risk factors in 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.
Logo:
https://mma.prnewswire.com/media/1064477/InMode_Logo.jpg
Company contact:
Yair Malca
Chief Financial Officer
(949) 305-0108
yair.malca@inmodemd.com
Investor relations contact:
Miri Segal
MS-IR LLC
(917) 607-8654
ir@inmodemd.com
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SOURCE InMode LTD