InMode(US:INMD)2023-05-02 11:00Revenue 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]