InMode Reports Third Quarter 2024 Financial Results; Quarterly GAAP Revenue of $130.2 Million (which consists of $98.3 million of net sales in Q3 and $31.9 million of pre-orders from the first half of 2024)

Core Insights - InMode Ltd. reported consolidated financial results for Q3 2024, showing a revenue increase of 5.8% year-over-year, reaching $130.2 million, despite challenges in demand and operational adjustments [2][5][4]. Financial Performance - Q3 2024 GAAP revenue was $130.2 million, including $31.9 million from pre-orders, compared to $123.1 million in Q3 2023 [2][5]. - Revenue from consumables and services decreased by 11% year-over-year to $15.8 million [2]. - GAAP operating income for Q3 2024 was $48.2 million, with a non-GAAP operating income of $52.2 million [2][8]. - The total cash position as of September 30, 2024, was $684.9 million, comprising cash, cash equivalents, marketable securities, and short-term bank deposits [2]. Profitability Metrics - GAAP net income for Q3 2024 was $51.0 million, or $0.65 per diluted share, compared to $46.5 million, or $0.54 per diluted share, in Q3 2023 [8][2]. - Non-GAAP net income for Q3 2024 was $55.0 million, or $0.70 per diluted share, compared to $53.1 million, or $0.61 per diluted share, in Q3 2023 [8][2]. Gross and Operating Margins - GAAP gross margin for Q3 2024 was 82%, down from 84% in Q3 2023 [6][7]. - GAAP operating margin for Q3 2024 was 37%, compared to 38% in Q3 2023, while non-GAAP operating margin was 40%, down from 43% [7]. 2024 Financial Outlook - The full-year 2024 revenue guidance has been revised to between $410 million and $420 million, down from the previous guidance of $430 million to $440 million [9]. - Non-GAAP gross margin is expected to be between 81% and 82%, and non-GAAP income from operations is projected to be between $140 million and $145 million [9].