InMode (INMD) Company Report

InMode projects a revenue decline to $370 million for the full year 2025 due to a U.S. market slowdown since Q2 2023, primarily attributed to high interest rates affecting equipment leasing. Despite this, the company maintains an 80% gross margin and over $540 million in cash with no debt, expecting momentum to return in 2026.
The company is expanding its product portfolio into wellness medical treatments, with its women's health product, Empower, generating $40 million in its first year, and InVision for dry eye generating $30 million in its first year. InMode is also developing new laser platforms (CO2, Erbium, Q-Switch, PICO) that combine with minimally invasive RF technology, with some launches planned for 2026 and others in 2027.
InMode is shifting its capital allocation strategy from stock buybacks, having invested $508 million previously, to focusing on potential large, synergistic M&A opportunities in women's health, ophthalmology, or other aesthetic/wellness areas, backed by its substantial cash reserves.
International expansion is a key focus, with AUW sales now matching U.S. sales at 50-50, up from 35%. The company is establishing new direct subsidiaries in markets like Japan, Argentina, and Thailand, and is actively pursuing CFDA approvals to expand its product offerings in the significant China market.

Nov 18, 2025, 4:00 PM

InMode Discusses 2024 Revenue Outlook, M&A Strategy, and International Expansion

INMD

Guidance Update

M&A

Product Launch

InMode anticipates $370 million in revenue for 2024, a decrease from $500 million in 2023, primarily due to a 20% revenue decline in 2024 attributed to high interest rates impacting equipment leasing in the U.S. market since Q2 2023. Despite this, the company maintains an 80% gross margin, above 20% EBITDA, and holds over $540 million in cash with no debt.
The company is shifting its capital allocation strategy from stock buybacks, having invested $508 million previously, to pursuing large, synergetic M&A opportunities, particularly in women's health, ophthalmology, or other aesthetic/wellness sectors, utilizing its over $500 million cash reserves.
InMode is expanding its international presence, with AUW now representing 50% of sales, up from 35%. It is actively working to expand in the China market, expecting two additional product clearances by year-end to supplement its current three.
The company is developing four new laser products (CO2, Erbium, Q-Switch, PICO) for launch in 2026 and 2027, which will integrate with existing minimally invasive RF technology. Additionally, studies for urinary incontinence and overactive bladder indications for its Empower women's health product are expected to conclude by end of 2026.

Nov 18, 2025, 4:00 PM

InMode Projects 20% Revenue Decline for 2024, Maintains Strong Margins and Pursues Wellness Expansion and M&A

INMD

Guidance Update

New Projects/Investments

Demand Weakening

InMode projects $370 million in revenue for 2024, representing a 20% decrease from $500 million in 2023, primarily due to a market slowdown caused by high interest rates impacting equipment leasing.
Despite the revenue decline, the company maintains a strong financial position with an 80% gross margin, over 20% EBITDA, over $540 million in cash, and no debt.
The company is expanding its product portfolio into wellness medical treatments, with its Empower women's health product generating $40 million in first-year sales and InVision for dry eye generating $30 million in its first year, both expected to grow significantly.
InMode plans to launch four new laser systems in 2026 and 2027, which will combine laser and minimally invasive RF technologies to offer a comprehensive solution to doctors.
After investing $508 million in stock buybacks, InMode has ceased further buybacks and is reserving its over $500 million cash for potential large, synergetic M&A opportunities, specifically avoiding laser companies.

Nov 18, 2025, 4:00 PM

InMode Reports Q3 2025 Financial Results and Reaffirms Full-Year Guidance

INMD

Earnings

Guidance Update

Product Launch

InMode reported Q3 2025 revenues of $93.2 million and non-GAAP diluted earnings per share of $0.38. This compares to Q3 2024 revenues of $130.2 million (which included $31.9 million in pre-order sales) and non-GAAP diluted EPS of $0.70.
The company's non-GAAP gross margins were 78% in Q3 2025, down from 82% in Q3 2024, primarily due to the anticipated impact of tariffs.
InMode reiterated its full-year 2025 guidance, projecting revenues between $365 million and $375 million and non-GAAP diluted EPS between $1.55 and $1.59.
Operationally, InMode expanded its global footprint by opening a new subsidiary in Argentina and fully rolled out its men's wellness platforms in Q3, with revenue contribution expected by the end of 2025.
The company also appointed Michael Denison as President of North America and plans to introduce new aesthetic lasers in early 2026.

Nov 5, 2025, 1:30 PM

InMode Announces Q3 2025 Financial Results

INMD

Earnings

New Projects/Investments

InMode reported Q3 2025 revenue of $93.2 million, Non-GAAP diluted earnings per share of $0.38, Non-GAAP net income of $24.5 million, and a Non-GAAP gross margin of 78%.
The company is a leading global provider of innovative, minimally-invasive aesthetic and wellness solutions, operating in 88 countries with a global installed base of 29,847 units.
InMode's portfolio includes 10 patented technologies across 11 product families, supported by 284 direct sales representatives.
The company maintains a pipeline to expand medical offerings and adapt its proprietary RF technologies to specific applications, including new FDA indications for Morpheus8 and the Health Canada certified ENVISION for ocular treatments.

Nov 5, 2025, 1:30 PM

InMode Reports Third Quarter 2025 Financial Results

INMD

Earnings

Guidance Update

Legal Proceedings

InMode Ltd. reported Q3 2025 GAAP revenues of $93.2 million, a decrease from $130.2 million in Q3 2024, which included $31.9 million of pre-order sales.
GAAP net income for Q3 2025 was $21.9 million, or $0.34 per diluted share, compared to $51.0 million, or $0.65 per diluted share, in Q3 2024.
The GAAP gross margin for Q3 2025 was 78%, down from 82% in Q3 2024, and the company held a total cash position of $532.3 million as of September 30, 2025.
Management reaffirmed its full-year 2025 guidance, projecting revenues between $365 million to $375 million and non-GAAP earnings per diluted share between $1.55 to $1.59.
The company is currently involved in a shareholder class action lawsuit, with a second amended complaint filed on October 14, 2025, and InMode intends to file another motion to dismiss.

Nov 5, 2025, 12:00 PM

InMode Announces Preliminary Q3 2025 Results and Reaffirms Full Year 2025 Guidance

INMD

Earnings

Guidance Update

InMode Ltd. expects to release its third quarter 2025 financial results on November 5, 2025, before the Nasdaq market opens.
Based on preliminary results, revenue for the third quarter of 2025 is anticipated to be in the range of $92.5 million to $93.0 million.
The company also expects a preliminary non-GAAP gross margin for the third quarter of 2025 to be between 77% and 79%.
InMode reiterated its full year 2025 revenue guidance to be in the range of $365 million to $375 million, consistent with prior guidance.