Inmode ( (INMD) ) has realeased its Q3 earnings. Here is a breakdown of the information Inmode presented to its investors.
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InMode Ltd., a prominent player in the medical technology sector, specializes in developing and marketing innovative devices using advanced radio frequency technology to enhance surgical procedures across various medical fields.
In its third quarter of 2024, InMode reported a consolidated GAAP revenue of $130.2 million, which includes $31.9 million in pre-orders fulfilled from the first half of the year. This highlights a modest improvement compared to the same period last year, despite a challenging macroeconomic environment.
Notably, InMode experienced a decrease in revenues from consumables and services by 11% compared to the previous year, although it maintained strong gross margins at 82%. The company’s net income increased to $51.0 million, with an earnings per diluted share of $0.65, reflecting a positive trend in profitability amid economic headwinds. Despite these gains, InMode revised its full-year revenue guidance downward to between $410 million and $420 million.
InMode’s management remains cautiously optimistic, focusing on strategic alignment and operational efficiency following recent management changes. The company is poised to leverage its robust cash position and dedication to innovation to navigate future challenges and capitalize on market recovery opportunities.
