Steel Partners Holdings on Wednesday publicly disclosed an unsolicited proposal to acquire a controlling stake in InMode Ltd. (NASDAQ:INMD) , offering shareholders a cash premium while criticizing the company's stock performance, capital allocation, and repeated guidance cuts.The stock is trading near the upper end of its 52-week range of $13.14-19.78, according to Benzinga Pro data.Steel Partners approached InMode about acquiring 51% of the company's outstanding shares at $18 per share. The offer represent ...

NEW YORK--(BUSINESS WIRE)--Steel Partners Holdings L.P. (together with its affiliates, "Steel†), which beneficially owns approximately 1.3% of the outstanding shares of InMode Ltd. (Nasdaq: INMD) ("InMode†or the "Company†), today issued a public letter to the Company's shareholders. The full text of the letter is below. January 28, 2026 Fellow Shareholders, We are writing to make you aware that we have expressed interest to InMode's leadership in pursuing an acquisition by Steel Partners of 51. ...

A foreign investment fund could scoop up medical aesthetics outlet InMode for $1.1 billion, an analyst said Monday as InMode stock surged. ...

Core Viewpoint - InMode Ltd. is set to release its financial results for Q4 and the full year of 2025 on February 10, 2026, with preliminary revenue estimates indicating strong performance [1][2][7]. Financial Results - Preliminary revenue for Q4 2025 is expected to be between $103.6 million and $103.8 million, while the full year revenue is projected to be in the range of $370.2 million to $370.4 million [7]. - The non-GAAP gross margin for the full year of 2025 is anticipated to be between 78% and 79% [7]. - Revenue for the full year of 2026 is projected to be between $365 million and $375 million [7]. Conference Call Details - A conference call to discuss the financial results will take place on February 10, 2026, at 8:30 a.m. Eastern Time, featuring key executives including the CEO, CFO, and CTO [3][4]. - Participants are encouraged to pre-register for the call to receive a unique dial-in number for immediate access [4][5]. Company Overview - InMode is recognized as a leading global provider of innovative medical technologies, focusing on devices that utilize novel radio frequency technology for various medical applications [8].

Company Overview - InMode Ltd. (INMD) was founded in 2008 and is based in Israel, specializing in non-/minimally invasive aesthetic medical products [1] Industry Position - The company is recognized as a global leader in its field, particularly for its proprietary radiofrequency (RF) assisted lipolysis and deep subdermal technologies [1]

Company Overview - InMode Ltd. was founded in 2008 and is based in Israel, specializing in non-/minimally invasive aesthetic medical products [1] - The company is recognized as a global leader in its field, utilizing proprietary radiofrequency (RF) assisted lipolysis and deep subdermal technologies [1] Investment Philosophy - The investment approach emphasizes the importance of compounding, dividend reinvesting, and patient investing through various market conditions to achieve wealth creation [1] - The strategy includes a mix of steady accumulation of high-quality assets along with high-risk/high-reward opportunities and transformative technologies [1] Academic Background - The individual behind the investment insights has over 20 years of teaching experience at the college/university level and holds a PhD from Brunel University [1]

Summary of InMode Conference Call Company Overview - **Company**: InMode - **Founded**: 17 years ago by Moshe Mizrahy - **Headquarters**: Israel - **Employees**: 650 worldwide, plus 200 in manufacturing - **Revenue Growth**: From $22 million in 2017 to $500 million in 2023, indicating rapid growth [7][20] Core Business and Technology - **Focus**: Aesthetic and wellness medical treatments, utilizing minimally invasive technology rather than traditional optical energy methods [6][8] - **Key Products**: - BodyTite platforms for fat melting and skin tightening - Empower for women's health, targeting vaginal laxity and urinary incontinence - InVision for dry eye treatment [7][12][13] Market Dynamics - **Current Market Challenges**: - Revenue decline of 20% expected in 2024 due to high inflation (8%-9%) and increased interest rates (13%-14%) affecting equipment financing for doctors [19][20] - Projected revenue for 2023 is approximately $370 million [20][21] - **Gross Margin**: Maintained at 80% despite market challenges, with EBITDA above 20% [20] Future Growth Opportunities - **Women's Health**: - Ongoing FDA studies for urinary incontinence and overactive bladder, expected to complete by end of 2026 [11][14] - Empower product generated $40 million in its first year [12] - **Ophthalmology**: - InVision product for dry eye treatment sold $30 million in its first year, with expectations to exceed $50 million annually in the future [13] - **International Expansion**: - Established subsidiaries in Japan, Argentina, and Thailand, aiming to increase direct sales from 80% to 85% [22][24] - Potential growth in China, with plans to expand product offerings as additional clearances are obtained [24][38] Sales and Marketing Strategy - **Sales Force**: - Approximately 300 direct salespeople globally, with 210 in the U.S. [30] - Leadership changes made to streamline management and improve sales momentum [31][32] - **Marketing Investments**: Increased spending on marketing to support direct sales efforts [22] Financial Strategy - **Capital Allocation**: - $508 million spent on stock buybacks, with a shift in focus towards exploring M&A opportunities [33][34] - No current M&A pipeline, but interest in acquiring companies related to women's health and wellness [34] Product Development - **Upcoming Products**: - Development of four laser types (CO2, Erbium, Q-Switch, PICO) to complement existing RF technology, expected to launch between 2026 and 2027 [35][36] Conclusion - InMode is navigating a challenging market environment but remains optimistic about future growth through product innovation, international expansion, and strategic management of its sales force and financial resources [20][21][22]

Core Insights - InMode Ltd. reported strong financial performance for Q3 2025, with an EPS of $0.38, surpassing the estimated EPS of $0.35 [1][6] - The company's revenue reached approximately $93.2 million, exceeding the estimated revenue of about $90.9 million [2][6] - InMode maintained a robust gross margin of 78%, indicating efficiency in managing production costs [2][6] Financial Metrics - The company has a price-to-earnings (P/E) ratio of approximately 5.1, reflecting the market's valuation of its earnings [4] - The price-to-sales ratio stands at about 2.52, and the enterprise value to sales ratio is around 2, suggesting favorable market value relative to sales [4] - InMode's low debt-to-equity ratio of approximately 0.01 indicates minimal reliance on debt financing [5] - The company boasts a strong current ratio of about 9.6, highlighting its ability to cover short-term liabilities with short-term assets [5] - The earnings yield of about 19.6% provides a measure of return on investment for shareholders [5] Leadership Changes - Michael Dennison has been appointed as the new President of North America, expected to enhance regional strategy and customer engagement [3]

Financial Data and Key Metrics Changes - InMode generated revenues of $93.2 million in Q3 2025, down from $130.2 million in Q3 2024, which included $31.9 million in pre-order sales [6][7] - Consumables and service revenues were $19.9 million, up 26% year-over-year, driven primarily by markets outside the U.S. [6][7] - GAAP gross margins were 78%, down from 82% in Q3 2024, attributed to the impact of tariffs [7][8] - GAAP net income was $21.8 million, down from $50.9 million in Q3 2024, with diluted earnings per share at $0.34, down from $0.65 [9][10] Business Line Data and Key Metrics Changes - Minimally invasive platforms accounted for 75% of total revenues this quarter [7] - Sales outside the U.S. increased slightly to $40 million, or 43% of overall sales, a 10% increase year-over-year [7] - Sales and marketing expenses decreased to $44.9 million from $51.9 million in the same period last year [8] Market Data and Key Metrics Changes - The U.S. was the largest geographical revenue contributor, reaching $53.2 million [7] - The company currently has 284 direct sales reps and distributors covering more than 73 countries [8] Company Strategy and Development Direction - The company is focused on expanding its presence in high-growth markets, recently opening a new subsidiary in Argentina [3][4] - A new leadership addition, Michael Denison, was appointed as President of North America to streamline operations [5][28] - The company aims to launch new products in the aesthetic segment in early 2026, including new lasers [26] Management's Comments on Operating Environment and Future Outlook - Management acknowledged challenges in the marketplace but expressed confidence in the company's competitive advantages and strong financial position [5] - The company plans to remain conservative in its guidance for 2026 due to uncertainties in the market [14][16] Other Important Information - The company expects to begin generating initial revenue from its new subsidiary in Argentina by the end of 2025 [4] - Non-GAAP gross margins are expected to remain between 78%-80% for 2025 [10] Q&A Session Summary Question: Guidance for Q4 and 2026 sales growth - Management indicated it is too early to discuss guidance for 2026 and prefers to see how Q4 plays out first [14] Question: Capital equipment environment and interest rates - Management noted that while interest rates have come down, it has not yet significantly impacted capital equipment financing [16][17] Question: Updates on ophthalmology initiative - The company is separating sales teams for the Envision initiative and has made progress with the American Optometrist Association [20][21] Question: New product pipeline in aesthetics - New lasers complementary to the aesthetic portfolio are expected to be launched in early 2026 [26] Question: Rationale for appointing Michael Denison - Denison was chosen for his extensive experience and knowledge of the market, aiming to unify North American operations under one management [28][29] Question: Urology business expectations - The company is launching urology products and will assess their performance by the end of the year [30] Question: Strength in OUS business and future trends - The company is currently selling in 88 to 90 countries and does not plan to add more countries in 2025 [33][34] Question: Non-invasive growth and consumables - The company sold about 230,000 disposable handpieces in Q3 2025, indicating a sequential increase [41]

Company Overview - InMode is a leading global provider of minimally-invasive aesthetic and wellness solutions [5] - The company has 10 patented technologies across 11 product families [7] - InMode sells its products in 88 countries [7] - The company has 656 employees worldwide, including 284 direct sales reps [19] Financial Performance (Q3 2025) - Q3 2025 revenue was $93.2 million [7] - Non-GAAP net income for Q3 2025 was $24.5 million [7] - Non-GAAP gross margin for Q3 2025 was 78% [7] - Non-GAAP diluted earnings per share for Q3 2025 was $0.38 [7] Technology and Market - InMode addresses the "Treatment Gap" with minimally-invasive technologies [26] - RFAL technology can achieve up to 40% soft tissue contraction [40]