InMode Ltd.
Description
InMode Ltd. designs, develops, manufactures, and markets minimally invasive aesthetic medical products based on its proprietary radiofrequency assisted lipolysis and deep subdermal fractional radiofrequency technologies in the United States and internationally. The company offers minimally invasive aesthetic medical products for various procedures, such as liposuction with simultaneous skin tightening, body and face contouring, and ablative skin rejuvenation treatments, as well as for use in women's health conditions and procedures. It also designs, develops, manufactures, and markets non-invasive medical aesthetic products that target an array of procedures, including permanent hair reduction, facial skin rejuvenation, wrinkle reduction, cellulite treatment, skin appearance and texture, and superficial benign vascular and pigmented lesions, as well as hands-free medical aesthetic products that target a range of procedures, such as skin tightening, fat reduction, and muscle stimulation. The company was formerly known as Invasix Ltd. and changed its name to InMode Ltd. in November 2017. InMode Ltd. was incorporated in 2008 and is headquartered in Yokne'am, Israel.
About
CEO
Mr. Moshe Mizrahy
Employees
581
Instrument type
Common Stock
Sector
Healthcare
Industry
Medical Devices
MIC code
XNGS
Address
Tavor Building, Yokne'am, 2069206, Israel
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Summary
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Earnings
| Date | Estimate EPS | Actual EPS | Difference | % Surprise |
|---|---|---|---|---|
| Oct 28, 2025 | — | — | — | — |
| Jul 30, 2025 | — | — | — | — |
| Apr 30, 2025 | — | — | — | — |
| Feb 4, 2025 | 0.59 | — | — | — |
Earnings estimate
|
Next Quarter
(Mar 2025)
|
Next Year
(Dec 2025)
|
|||
|---|---|---|---|---|
| Number of analysts | — | 4 | — | 6 |
| Average estimate | — | 0.43 | — | 1.95 |
| Low estimate | — | 0.39 | — | 1.71 |
| High estimate | — | 0.47 | — | 2.17 |
| Last year EPS | — | 0.32 | — | 1.85 |
[stock_revenue_estimate]
Growth estimates
Current qtr
-29.360%
Next qtr. (Mar 2025)
35.720%
Current year
-27.910%
Next year (Dec 2025)
5.200%
Next 5 years (per annum)
—
Past 5 years (per annum)
—
Income statement
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Fiscal date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total reported revenue | 492.05M | 454.27M | 357.57M | 206.11M | 156.36M |
| Cost of revenue | 80.71M | 73.49M | 53.59M | 30.85M | 20.24M |
| Gross profit | 411.34M | 380.79M | 303.97M | 175.26M | 136.12M |
| Operating expense | |||||
| Research & development | 13.41M | 12.43M | 9.53M | 9.47M | 5.70M |
| Selling general and admin | 202.27M | 170.51M | 127.76M | 92.95M | 70.81M |
| Other operating expenses | — | — | -800,000 | — | — |
| Operating income | 195.66M | 197.85M | 167.48M | 72.84M | 59.62M |
| Non operating interest income | |||||
| Income | 21.61M | 3.61M | 525,000 | 3.29M | 2.42M |
| Expense | — | — | — | — | — |
| Other income expense | — | — | — | — | — |
| Pretax income | 217.27M | 201.47M | 168.00M | 76.13M | 62.04M |
| Tax provision | 19.35M | 39.95M | 2.93M | 1.11M | 883,000 |
| Net income | 197.92M | 161.52M | 165.07M | 75.03M | 61.16M |
| Basic EPS | 2.37 | 1.96 | 2.03 | 1.04 | 1.05 |
| Diluted EPS | 2.30 | 1.89 | 1.92 | 0.89 | 0.80 |
| Basic average shares | 83.53M | 82.48M | 81.45M | 72.11M | 58.46M |
| Diluted average shares | 83.53M | 82.48M | 81.45M | 72.11M | 58.46M |
| EBITDA | 196.28M | 198.53M | 167.99M | 73.26M | 59.92M |
| Net income from continuing op. | 197.92M | 161.52M | 165.07M | 75.03M | 61.16M |
| Minority interests | — | — | -103,000 | 5,000 | -13,000 |
| Preferred stock dividends | — | — | — | — | — |
Balance sheet
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Fiscal date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total assets | 863.29M | 644.41M | 478.54M | 295.76M | 218.39M |
| Current assets | |||||
| Cash | — | — | — | — | — |
| Cash equivalents | — | — | — | — | — |
| Cash and cash equivalents | 144.41M | 97.54M | 68.14M | 68.94M | 44.73M |
| Other short term investments | 597.19M | 449.84M | 347.78M | 191.60M | 148.64M |
| Accounts receivable | 42.36M | 27.00M | 20.24M | 10.50M | 6.63M |
| Other receivables | 1.20M | 1.22M | 1.23M | 790,000 | 3.81M |
| Inventory | 45.10M | 39.90M | 21.03M | 14.98M | 9.41M |
| Prepaid assets | 15.00M | 13.83M | 8.40M | 2.48M | — |
| Restricted cash | — | — | — | — | — |
| Assets held for sale | — | — | — | — | — |
| Hedging assets | — | — | — | — | — |
| Other current assets | — | — | — | — | — |
| Non current assets | |||||
| Properties | 12.29M | 7.62M | 6.05M | 2.68M | 2.77M |
| Land and improvements | — | — | — | — | — |
| Machinery furniture equipment | 2.00M | 1.75M | 1.26M | 809,000 | 524,000 |
| Construction in progress | — | — | — | — | — |
| Leases | 1.24M | 829,000 | 569,000 | 283,000 | 234,000 |
| Accumulated depreciation | -3.46M | -2.83M | -2.15M | -1.64M | -1.22M |
| Goodwill | — | — | — | — | — |
| Investment properties | — | — | — | — | — |
| Financial assets | — | — | — | — | — |
| Intangible assets | — | — | — | — | — |
| Investments and advances | 700,000 | 600,000 | 600,000 | 600,000 | 600,000 |
| Other non current assets | 5.18M | 7.07M | 2.10M | 3.44M | 2.27M |
| Total liabilities | 75.91M | 89.79M | 62.74M | 40.29M | 38.58M |
| Current liabilities | |||||
| Accounts payable | 13.97M | 16.24M | 8.78M | 6.41M | 3.70M |
| Accrued expenses | — | — | — | — | — |
| Short term debt | 2.40M | 1.45M | 1.21M | 880,000 | — |
| Deferred revenue | 10.92M | 13.80M | 13.81M | 11.90M | 15.59M |
| Tax payable | 1.92M | 19.24M | 1.24M | 758,000 | 202,000 |
| Pensions | 21.04M | 19.44M | 17.81M | — | — |
| Other current liabilities | 12.41M | 10.43M | 7.76M | 14.38M | 13.00M |
| Non current liabilities | |||||
| Long term debt | 6.61M | 3.51M | 3.31M | 358,000 | 744,000 |
| Provision for risks and charges | — | — | — | — | — |
| Deferred liabilities | — | — | — | — | 37,000 |
| Derivative product liabilities | — | — | — | — | — |
| Other non current liabilities | 1.40M | 303,000 | 4.83M | 2.91M | 1.49M |
| Shareholders equity | |||||
| Common stock | 245,000 | 241,000 | 239,000 | 216,000 | 93,000 |
| Retained earnings | 693.43M | 495.51M | 333.99M | 169.02M | 93.99M |
| Other shareholders equity | -1.68M | -7.49M | -1.32M | 356,000 | 124,000 |
| Total shareholders equity | 787.37M | 554.62M | 415.80M | 255.48M | 179.80M |
| Additional paid in capital | 177.82M | 148.80M | 122.70M | 101.59M | 81.86M |
| Treasury stock | 82.44M | 82.44M | 39.80M | 17.22M | — |
| Minority interest | — | — | — | 1.51M | 3.74M |
Cash flow statement
| 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||
| Net Income | 197.92M | 161.52M | 165.07M | 75.03M | 61.16M | 22.37M | 8.82M |
| Depreciation | 623,000 | 680,000 | 517,000 | 416,000 | 302,000 | 184,000 | 204,000 |
| Deferred Taxes | -184,000 | 84,000 | -770,000 | 1.73M | -594,000 | -592,000 | -580,000 |
| Stock-Based Compensation | 23.60M | 24.45M | 11.96M | 12.85M | 1.56M | 1.95M | 2.44M |
| Other Non-Cash Items | -4.71M | -1.21M | 1.22M | -625,000 | -835,000 | -45,000 | — |
| Accounts Receivable | -18.31M | -12.20M | -16.94M | -7.06M | -867,000 | -1.74M | -3.72M |
| Accounts Payable | -2.28M | 7.46M | 2.37M | 2.71M | 92,000 | 541,000 | 1.51M |
| Other Assets & Liabilities | -20.85M | 271,000 | 10.76M | -6.26M | 11.31M | 5.99M | 5.73M |
| Operating Cash Flow | 175.81M | 181.06M | 174.19M | 78.78M | 72.13M | 28.65M | 14.40M |
| Investing Activities | |||||||
| Capital Expenditures | -705,000 | -1.58M | -939,000 | -463,000 | -693,000 | -381,000 | -189,000 |
| Net Intangibles | — | — | — | — | — | — | — |
| Net Acquisitions | — | — | — | — | — | — | — |
| Purchase of Investments | -478.68M | -262.38M | -346.92M | -225.39M | -213.83M | -48.35M | -5.70M |
| Sale of Investments | 343.32M | 154.48M | 187.76M | 182.55M | 102.07M | 18.99M | 202,000 |
| Investing Cash Flow | -136.06M | -109.47M | -160.11M | -43.31M | -112.45M | -29.74M | -5.68M |
| Financing Activities | |||||||
| Long-Term Debt Issuance | — | — | — | — | — | — | — |
| Long-Term Debt Payments | — | — | — | — | — | — | — |
| Other Financing Charges | — | — | — | — | — | — | 1.73M |
| Financing Cash Flow | — | -42.64M | -35.37M | -17.22M | 69.78M | — | 1.73M |
| Other Cash Details | |||||||
| End Cash Position | 144.41M | 97.54M | 68.14M | 68.94M | 44.73M | 24.72M | 17.59M |
| Income Tax Paid | 31.61M | 25.84M | 1.66M | 217,000 | 1.42M | 1.80M | 737,000 |
| Interest Paid | — | — | — | — | — | — | — |
| Free Cash Flow | 176.12M | 180.00M | 173.95M | 78.76M | 61.51M | 36.51M | 14.42M |
Top Institutional Holders
| Holder | Date Reported | Shares | Value | % Held |
|---|---|---|---|---|
| iShares Russell 2000 ETF | Nov 30, 2024 | 2,226,117 | 39.98M | 2.65% |
| Fidelity Small Cap Index Fund | Oct 31, 2024 | 812,819 | 14.60M | 0.97% |
| iShares Russell 2000 Value ETF | Nov 30, 2024 | 682,406 | 12.26M | 0.81% |
| Boston Trust & Walden Fds-Boston Small Cap Fund | Sep 30, 2024 | 578,242 | 10.39M | 0.69% |
| iShares Core MSCI EAFE ETF | Nov 30, 2024 | 468,761 | 8.42M | 0.56% |
| Vanguard Russell 2000 Index Fund | Nov 30, 2024 | 374,238 | 6.72M | 0.45% |
| AMG Managers River Road Small Cap Value Fund | Oct 31, 2024 | 307,656 | 5.53M | 0.37% |
| JP Morgan Small Cap Value Fund | Sep 30, 2024 | 277,110 | 4.98M | 0.33% |
| Russell Inv Co- Tax-Managed U.S. Mid & Small Cap Fund | Oct 31, 2024 | 274,821 | 4.94M | 0.33% |
| iShares MSCI EAFE Small Cap ETF | Nov 30, 2024 | 221,455 | 3.98M | 0.26% |
Article
InMode: Plastic Surgery Boom, Cash Flow, And Cheap
InMode is significantly undervalued, with strong cash flow, international expansion, and investments in research and marketing driving future revenue and free cash flow growth. The company benefits from the booming non-invasive plastic surgery market, expected to grow at a 14% CAGR from 2023 to 2030. INMD's stock repurchase program and substantial investments in bonds and bank deposits are expected to boost stock price and financial stability.
Feb 10, 2025
Article
InMode Ltd. (INMD) Q4 2024 Earnings Call Transcript
InMode Ltd. (NASDAQ:INMD ) Q4 2024 Results Conference Call February 4, 2025 8:30 AM ET Company Participants Miri Segal - CEO, MS-IR Moshe Mizrahy - Chief Executive Officer Michael Kreindel - Chief Technology Officer Yair Malca - Chief Financial Officer Rafael Lickerman - Vice President, Finance Conference Call Participants Danielle Antalffy - UBS Matt Miksic - Barclays Michael Sarcone - Jefferies Caitlin Cronin - Canaccord Genuity Mike Matson - Needham & Company Jeff Johnson - Baird Sam Eiber - BTIG Operator Good day, and welcome to the InMode Fourth Quarter and Full Year 2024 Earnings Results Conference Call.
Feb 6, 2025
Article
InMode Reports Fourth Quarter and Full Year 2024 Financial Results; Board of Directors Has Approved a New Share Repurchase Program
Quarterly GAAP revenues of $ 97.9 million and full year revenue of $394.8 million Returned $285.4 million of capital to shareholders in full year 2024 Together with new 10% program, represents repurchase of approximately 27% of shares outstanding within 15 month timeframe, with the potential of substantial additional capital return in 2025 YOKNEAM, Israel, Feb. 4, 2025 /PRNewswire/ -- InMode Ltd. (Nasdaq: INMD) ("InMode"), a leading global provider of innovative medical technologies, today announced its consolidated financial results for the fourth quarter and full year 2024.
Feb 4, 2025
