InMode Ltd. (NASDAQ:INMD) Q4 2023 Earnings Conference Call February 13, 2024 8:30 AM ET Company Participants Miri Segal - Investor Relations Moshe Mizrahy - Chairman, CEO and Co-Founder Michael Kreindel - Co-Founder and Chief Technology Officer Yair Malca - Chief Financial Officer Shakil Lakhani - President, North America Rafael Lickerman - VP of Finance Conference Call Participants Matt Miksic - Barclays Mike Sarcone - Jefferies Danielle Antalffy - UBS Mike Matson - Needham & Company Caitlin Cronin - Canac ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 19 ...

Revenue Performance - Fourth quarter 2023 revenue was $126.8 million, a decrease of 5.4% from $133.6 million in Q4 2022[6] - Full year 2023 revenue reached a record $492 million, representing an 8% year-over-year increase from $454.3 million in 2022[6] - Revenues for Q4 2023 were $126,781,000, a decrease of 5.9% compared to $133,571,000 in Q4 2022[36] - For the full year 2023, revenues reached $492,048,000, an increase of 8.3% from $454,271,000 in 2022[39] - International revenues increased by 18% year-over-year, contributing to overall revenue growth[6] Profitability - GAAP net income for Q4 2023 was $55.2 million, or $0.64 per diluted share, compared to $37.7 million, or $0.44 per diluted share in Q4 2022[10] - Non-GAAP net income for Q4 2023 was $61.5 million, or $0.71 per diluted share, down from $66.4 million, or $0.78 per diluted share in Q4 2022[10] - Net income for Q4 2023 increased to $55,165 thousand, a 46.3% rise from $37,708 thousand in Q4 2022[26] - Net income for Q4 2023 was $61,487,000, compared to $66,370,000 in Q4 2022, representing a decrease of 7.4%[36] - Net income for the year 2023 was $221,519,000, compared to $207,486,000 in 2022, reflecting an increase of 6.8%[39] Gross Margin - Gross margins for both GAAP and non-GAAP were 84% for Q4 2023, consistent with the previous year[8] - Gross profit for the year ended December 31, 2023, was $411,340 thousand, up 8.0% from $380,786 thousand in 2022[26] - Gross profit for Q4 2023 was $107,090,000, down from $113,122,000 in Q4 2022, reflecting a decline of 5.3%[36] - Gross profit for the year ended December 31, 2023, was $413,386,000, up from $382,703,000 in 2022, indicating an increase of 8.0%[39] - Non-GAAP gross margin for 2024 is projected to be between 83% and 85%[14] Operating Expenses - Operating expenses for the year increased to $215,680 thousand, up 17.9% from $182,932 thousand in 2022, primarily driven by sales and marketing expenses[26] - Operating expenses totaled $49,524,000 in Q4 2023, an increase of 7.5% from $46,076,000 in Q4 2022[36] - Operating expenses for the year were $194,126,000, a rise of 20.9% compared to $160,397,000 in 2022[39] Cash Position and Assets - As of December 31, 2023, the total cash position was $741.6 million, including cash and cash equivalents, marketable securities, and short-term bank deposits[11] - Cash and cash equivalents at the end of Q4 2023 were $144,411 thousand, compared to $97,540 thousand at the end of Q4 2022, reflecting a 47.9% increase[31] - Total assets as of December 31, 2023, were $863,286 thousand, up 34.1% from $644,409 thousand in 2022[28] - Total liabilities decreased to $75,914 thousand as of December 31, 2023, down from $89,791 thousand in 2022, a reduction of 15.5%[28] Future Outlook - The company plans to launch 2 new platforms in 2024 to enhance market share in minimally invasive aesthetics treatments[5] - Management expects 2024 revenue to be between $495 million and $505 million[14] - The company plans to continue investing in research and development, with R&D expenses for the year totaling $13,410 thousand, an increase from $12,425 thousand in 2022[26]

InMode (NASDAQ:INMD) Q3 2023 Earnings Conference Call November 2, 2023 8:30 AM ET Company Participants Miri Segal - Investor Relations Moshe Mizrahy - Chief Executive Officer and Chairman of Board of Directors Shakil Lakhani - President, North America Yair Malca - Chief Financial Officer Spero Theodorou - Chief Medical Officer Conference Call Participants Matt Miksic - Barclays Matthew Taylor - Jefferies Ryan Barocas - UBS Dane Reinhardt - Baird Mike Matson - Needham and Company Caitlin Cronin - Canaccord G ...

Exhibit 99.1 InMode Reports Third Quarter 2023 Financial Results; Quarterly Revenue of $123.1M Represents 2% Year-Over-Year Growth YOKNEAM, Israel, Nov. 2, 2023- InMode Ltd. (Nasdaq: INMD) ("InMode"), a leading global provider of innovative medical technologies, today announced its consolidated financial results for the third quarter ended September 30, 2023. Third Quarter 2023 Highlights: | U.S. GAAP Results | | | | --- | --- | --- | | (U.S. dollars in thousands, except for per share data) | | | | Q3 2023 ...

Financial Data and Key Metrics Changes - InMode reported record revenue of $136.1 million for Q2 2023, a 20% increase compared to Q2 2022 [3][13] - Gross margin was 84% on a GAAP basis, with GAAP operating margin at 42%, slightly down from 43% in Q2 2022 [17] - Non-GAAP diluted earnings per share reached a record $0.72, compared to $0.59 in Q2 2022 [17] - The company ended the quarter with cash and cash equivalents of $629.4 million [17] Business Line Data and Key Metrics Changes - Revenue from consumables and services grew nearly 44% year-over-year, indicating increased usage of platforms [11] - Capital equipment sales represented 84% of total revenue, while consumables and service revenues accounted for 16% [14] - Sales outside the US reached $49.5 million, up from $41.2 million in Q2 2022 [13] Market Data and Key Metrics Changes - InMode established two new subsidiaries in Japan and Germany to enhance direct sales capabilities [8] - Sales from Asia hit a new record, contributing to overall growth [13] - The company operates in 92 countries with over 264 direct sales representatives and 81 distributors [14] Company Strategy and Development Direction - InMode plans to invest heavily in product development, launching new technologies and platforms over the next 12 months [4] - The company aims to secure additional FDA indications, with eight studies currently in process [10] - InMode's strategy includes direct sales in markets where it previously relied on distributors, enhancing market presence and revenue recognition [67] Management's Comments on Operating Environment and Future Outlook - Management noted strong demand for consumables, with expectations for continued growth despite seasonal trends [25] - The competitive landscape remains challenging, but InMode's brand awareness and innovation are seen as advantages [50] - Management expressed confidence in the sustainability of growth, particularly in the ophthalmology market [12] Other Important Information - InMode became part of the Russell 2000 Index, enhancing its visibility among investors [10] - The company is focused on maintaining a strong balance sheet while exploring M&A opportunities [101] Q&A Session Summary Question: Sustainability of consumables demand amid macroeconomic headwinds - Management indicated strong demand continues into July, with expectations for Q3 and Q4 to be higher than current levels [25] Question: Trends in capital equipment demand and financing - Management noted that while financing conditions have tightened, demand remains strong, and they are adapting to the environment [28][30] Question: Seasonal cadence for system sales in the back half of the year - Management acknowledged typical seasonality but noted that demand in North America remains strong [42][44] Question: Competitive environment and market dynamics - Management stated that competition is strong, but their focus on brand awareness and innovation helps maintain their market position [50] Question: Updates on Empower platform and hiring - Management confirmed growth in Empower sales and ongoing discussions with the FDA regarding new indications [54] Question: Capital allocation priorities and potential M&A - Management is open to acquiring more IP and exploring M&A opportunities, but no immediate deals are confirmed [101] Question: Leasing dynamics and technology upgrades for customers - Management reported that leasing remains stable, and they provide upgrades for software at no cost when possible [104]

Exhibit 99.1 InMode Reports Second Quarter 2023 Financial Results; Record Quarterly Revenue of $136.1M Represents 20% Year-Over-Year Growth YOKNEAM, Israel, July 27, 2023- InMode Ltd. (Nasdaq: INMD) ("InMode"), a leading global provider of innovative medical technologies, today announced its consolidated financial results for the second quarter ended June 30, 2023. "We are pleased to report a record quarter with revenue of $136.1 million, as sales from our platforms and disposables were the strongest they'v ...

InMode Ltd. (NASDAQ:INMD) Q1 2023 Earnings Conference Call May 2, 2023 8:30 AM ET Company Participants Miri Segal - Investor Relations, MS-IR LLC Moshe Mizrahy - Chairman and CEO Shakil Lakhani - President, North America Yair Malca - Chief Financial Officer Spero Theodorou - Chief Medical Officer Conference Call Participants Michael Sarcone - Jefferies Danielle Antalffy - UBS Dane Reinhardt - Baird Mike Matson - Needham & Company Kyle Rose - Canaccord Genuity Operator Good day, and welcome to the InMode Fir ...

Revenue and Growth - Quarterly revenue of $106.1 million, representing a 23.5% year-over-year growth[2][6] - Total net revenue grew to $106,074 thousand in Q1 2023, a 23.5% increase compared to $85,921 thousand in Q1 2022[30] - Record quarterly revenues from consumables and service of $20 million, a 43% increase compared to the first quarter of 2022[6] - Capital Equipment revenues in the United States reached $49,751 thousand, accounting for 47% of total revenue in Q1 2023, up from $44,760 thousand (52%) in Q1 2022[30] - International Capital Equipment revenues increased to $36,373 thousand (34% of total revenue) in Q1 2023, compared to $27,183 thousand (32%) in Q1 2022[30] - Consumables and service revenues grew to $19,950 thousand (19% of total revenue) in Q1 2023, up from $13,978 thousand (16%) in Q1 2022[30] - Minimally Invasive technology accounted for 83% of total revenues by technology in Q1 2023, compared to 80% in Q1 2022[30] Net Income and Profitability - GAAP net income of $40.5 million, compared to $31 million in the first quarter of 2022[6][11] - Non-GAAP net income of $44.7 million, compared to $34.1 million in the first quarter of 2022[6][11] - Net income increased to $40,505 thousand in Q1 2023, up from $30,975 thousand in Q1 2022, representing a 30.8% year-over-year growth[28] - Non-GAAP net income was $44,714 thousand in Q1 2023, compared to $34,069 thousand in Q1 2022, representing a 31.2% increase[33] Gross and Operating Margins - GAAP gross margin for the first quarter of 2023 and 2022 was 83%[9] - Non-GAAP gross margin for the first quarter of 2023 and 2022 was 83%[9] - GAAP operating margin for the first quarter of 2023 was 39%, compared to 41% in the first quarter of 2022[10] - Non-GAAP operating margin for the first quarter of 2023 was 43%, compared to 44% in the first quarter of 2022[10] Cash Position and Cash Flow - Total cash position of $574.5 million as of March 31, 2023[6] - Net cash provided by operating activities decreased to $21,113 thousand in Q1 2023, down from $31,853 thousand in Q1 2022[28] - Net cash used in investing activities increased to $27,556 thousand in Q1 2023, compared to $12,692 thousand in Q1 2022[28] - Cash and cash equivalents at the end of Q1 2023 stood at $92,961 thousand, up from $44,670 thousand at the end of Q1 2022[28] Financial Outlook - 2023 financial outlook: revenue between $525 million and $530 million, non-GAAP gross margin between 83% and 85%, non-GAAP income from operations between $236 million and $238 million, non-GAAP earnings per diluted share between $2.58 and $2.60[15]

InMode Ltd. (NASDAQ:INMD) Q4 2022 Results Conference Call February 14, 2023 8:30 AM ET Company Participants Miri Segal - Investor Relations, MS-IR LLC Moshe Mizrahy - Chairman and Chief Executive Officer Dr. Michael Kreindel - Co-Founder and Chief Technology Officer Yair Malca - Chief Financial Officer Shakil Lakhani - President, North America Dr. Spero Theodorou - Chief Medical Officer Rafael Lickerman - VP of Finance Conference Call Participants Matt Miksic - Barclays Jon Lee - Jefferies Kyle Rose - Canac ...