INMD InMode Ltd

Expects Q3 Revenue Between $130.0 Million -$130.1 Million (including $31.9 Million in Revenue from First Half of 2024 Pre-orders), Decreases Full Year 2024 Guidance to $410 Million-$420 Million

Conference call to be held on Wednesday, October 30, 2024, at 8:30 a.m. Eastern Time

YOKNEAM, Israel, Oct. 10, 2024 /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 2024 before the Nasdaq market opens on Wednesday, October 30, 2024.

InMode is currently finalizing its financial results for the third quarter of 2024. While complete financial information and operating data are not yet available, set forth below are certain preliminary financial results for the period, subject to final adjustments and other developments that may arise between now and the time such financial results are published.

Regarding the current situation in Israel, InMode is prioritizing the safety and well-being of its employees, sub-contractors, and all its team members, who are safe. InMode is proactively assessing the relocation of certain production activities outside of Israel.

As previously discussed at the beginning of this year, InMode introduced two new platforms to the market, resulting in a transition phase with pre-orders received during the first half of this year. Management is happy to report that, by the end of the third quarter, InMode was able to fulfil all pre-orders and become current with all deliveries of incoming orders. This resulted in recognition during the third quarter of approximately $31.9 million of revenues that were previously deferred. Additionally, management continues to see macro-economic factors impacting the aesthetics industry. Management preliminarily expects the following financial results for the third quarter of 2024:

• Revenue to be in the range of $130.0 million to $130.1 million (including $31.9 million in revenue from new platform pre-orders received in the first half of this year that were delivered and recognized as revenue in the third quarter of 2024)
• Non-GAAP¹ gross margin to be in the range of 81% to 82%
• Full year 2024 revenue to be $410 million to $420 million as compared to prior guidance of $430 million to $440 million

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.

InMode will host a conference call to discuss the third quarter 2024 financial results on Wednesday, October 30 at 8:30 a.m. Eastern Time. Speakers from the management team include Moshe Mizrahy, Chief Executive Officer; Yair Malca, Chief Financial Officer, and Dr. Michael Kreindel, Chief Technology Officer.

InMode encourages participants to pre-register for the conference call using the following link: https://dpregister.com/sreg/10193479/fdae439271.

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: https://event.choruscall.com/mediaframe/webcast.html?webcastid=X3HVujVC

At:
8:30 a.m. Eastern Time
5:30 a.m. Pacific Time

The conference call will also be webcast live from a link on InMode's website at https://inmodeinvestors.com/events-presentations/. A replay of the conference call will be available from Oct. 30, 2024, at 12:00 p.m. Eastern Time to Nov. 13, 2024, 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: 5305602

A replay will also be available for 90 days on InMode's website at: https://inmodeinvestors.com/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, but not limited to, the revenue projections 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 13, 2024, 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 more effectively.

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SOURCE InMode LTD