YOKNEAM, Israel - InMode Ltd . (NASDAQ: NASDAQ:INMD), a global provider of medical technology, anticipates first-quarter revenue for 2024 to be between $80.0 million and $80.1 million, with pro forma revenue, which includes pre-orders for new platforms not yet available, estimated at $95.7 million to $95.8 million.
These preliminary figures, yet to be finalized, reflect a decrease in the full-year 2024 revenue guidance from the previously projected $495 million to $505 million, down to $485 million to $495 million.
The company, which specializes in innovative medical technologies, particularly radiofrequency (RF) technology-based devices, is in the process of finalizing its financial results for the first quarter.
The preliminary results also suggest non-GAAP gross margins are expected to be in the range of 79.5% to 81%, with pro forma non-GAAP gross margins projected to be between 82% and 83%. It is important to note that these financial measures exclude share-based compensation and include pre-orders for new platforms.
InMode has acknowledged the impact of the macro-economic environment on the aesthetics industry and is currently in a transition phase due to the initial launch year of its new platforms. The transition, involving pre-orders, may affect the representation of quarterly results and is expected to continue over the next few quarters until all sold platforms are comprised of the new models.
The company will host a conference call to discuss the first-quarter financial results on Thursday, May 2, 2024, at 8:30 a.m. Eastern Time. The management team, including Chairman and CEO Moshe Mizrahy and CFO Yair Malca, will present during the call. Participants are encouraged to pre-register for the call, although there will also be teleconferencing numbers available for those who choose not to pre-register.
A live webcast of the conference call will be available on InMode's website, with a replay accessible from May 2, 2024, at 12:00 p.m. Eastern Time until May 16, 2024, at 11:59 p.m. Eastern Time. The replay will also be available on the company's website for 90 days following the call.
This press release contains forward-looking statements, which involve risks and uncertainties. These statements are based on current expectations and assumptions and may differ materially from actual future events or results. The information is based on a press release statement.
InvestingPro Insights
Amidst the transition phase and revised revenue guidance for InMode Ltd. (NASDAQ: INMD), a closer look at the company's financial health and stock performance through InvestingPro's lens offers a nuanced perspective. Notably, InMode holds a favorable cash position, as it has more liquid assets than debt on its balance sheet. This financial stability is crucial during transition periods and when navigating uncertain macro-economic environments.
InvestingPro data highlights a compelling valuation for InMode, with an adjusted P/E ratio of 8.46 for the last twelve months as of Q4 2023. This metric indicates that the stock is trading at a low price relative to near-term earnings growth, which could be an attractive point for value investors. Additionally, the company's valuation suggests a strong free cash flow yield, reinforcing the potential for long-term value creation. Despite recent volatility in stock price movements, analysts remain optimistic about the company's profitability, predicting that InMode will be profitable this year.
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