文章核心观点 - 公司持有约占市值55%的大量现金余额是非常低效的资本配置 [5] - 公司目前的估值为历史最低,为创造股东回报提供了前所未有的机会 [1][2] 关于公司 - 公司拥有高达80%的毛利率,无债务,且在其领域占据主导地位 [5] - 公司的研发生产力和创新能力处于行业领先水平 [12] - 公司专利距到期还有很多年,无需急于通过并购来实现知识产权多元化 [11] 关于资本配置 - 公司应该立即执行40%的股票回购要约,而不是进行规模较小的股票回购 [7][10] - 公司应该暂时放弃并购计划,而是将资金用于股票回购和内部研发创新 [12][14][17] - 公司目前没有必要支付股息,而应该将自由现金流全部用于股票回购等股东回报 [19][20] 关于行业 - 行业内并购标的估值普遍较高,公司难以以合理价格进行并购 [6][11] - 行业内存在多家竞争对手,公司并非垄断地位 [16] - 行业前景良好,设备需求有望在未来恢复增长 [12]

IRVINE, Calif., July 17, 2024 /PRNewswire/ -- InMode Ltd. (NASDAQ: INMD), a leading global provider of innovative medical technologies, is pleased to announce an additional FDA 510(k) clearance for the Morpheus8 technology. Morpheus8 is the first and only fractional radiofrequency (FRF) microneedling technology cleared for contraction of soft tissue.The U.S. Food and Drug Administration (FDA) has cleared the use of the Morpheus8 Applicators for the delivery of fractional radiofrequency use in dermatologic s ...

Expects Q2 Revenue Between $86.2M-$86.3M, Pro-Forma Revenue (including new platform pre-orders) Between $102.4M-$102.5M, Decreases FY 2024 Guidance to $430M-$440M Conference call to be held on Thursday, Aug. 1, 2024, at 8:30 a.m. Eastern TimeYOKNEAM, Israel, July 11, 2024 /PRNewswire/ -- InMode Ltd. (Nasdaq: INMD), a leading global provider of innovative medical technologies, announced today that it expects to release its financial results for the second quarter of 2024 before the Nasdaq market opens on Thu ...

IRVINE, Calif., May 8, 2024 /PRNewswire/ -- InMode Ltd. (Nasdaq: INMD), a leading global provider of innovative medical technologies, is the first aesthetic company to officially partner with P1 Offshore Racing and sponsor the only female driver, Victoria Rand, as part of Class 1. This partnership signifies a historic step forward in motorsports, and reflects InMode's unwavering dedication to championing and empowering women. Victoria Rand Victoria Rand, hailing from Denmark with a lineage deeply rooted in ...

财务数据和关键指标变化 - 第一季度收入为8.03亿美元,但包括新平台预订销售的pro forma收入为9.6亿美元 [17][18] - GAAP和非GAAP毛利率均为80%,pro forma毛利率为82%,去年同期为83% [18] - 最小创伤技术平台占总收入的84% [18] - 国际业务收入为3.8亿美元,占总收入的47%,同比下降14% [19] 各条业务线数据和关键指标变化 - 耗材和服务收入同比增长13%,达到2.25亿美元 [14] 各个市场数据和关键指标变化 - 欧洲成为最大的海外收入来源,创下历史新高 [19] - 公司在全球拥有248名直销代表和83名经销商 [19] 公司战略和发展方向及行业竞争 - 推出两款新的先进平台IgniteRF和Optimus Max,获得高度关注和需求 [7][8][9] - 新平台在第一季度占16%的销售,但由于制造线建设延迟导致库存不足 [8] - 公司正努力满足客户预订需求,确保库存满足需求 [8] - 新平台未来将成为公司增长的重要驱动力 [9] - 公司董事会批准了第三次股票回购计划,最高8.37亿股 [10] - 公司还在考虑其他资本配置选择,包括并购、派息和未来回购 [10] - 公司任命Michael Anghel博士为新任董事长,他拥有丰富的财务和执行经验 [11] 管理层对经营环境和未来前景的评论 - 宏观环境持续充满挑战,第一季度出现放缓,公司下调了全年指引 [7] - 预计行业逆风可能持续到第二季度 [7] - 利率高企导致医生推迟购买决定,公司正与租赁公司合作分担风险以促进融资 [30][33] - 新平台的推出有望吸引一些医生购买,即使利率较高 [34] - 公司在德国和日本新设立的子公司有望提升销售 [35] - 预计下半年和明年利率有望下降,有助于行业复苏 [30][31] 问答环节重要的提问和回答 问题1 **Matt Miksic提问** 对于近期行业面临的主要挑战,如融资延迟和终端需求,公司有多大信心未来会改善? [27][28] **Moshe Mizrahy回答** 公司认为利率在下半年可能会下降,有助于医生融资购买设备。但最近通胀再次上升,利率下降时间存在不确定性。公司正采取一些措施应对,如与租赁公司合作分担风险、推出新产品吸引医生购买,以及在德国和日本开设新子公司等。但短期内行业仍可能面临挑战。 [30][31][33][34][35] 问题2 **Unidentified Analyst提问** 新产品平台的销售贡献如何,是否会对现有产品产生替代效应? [41][42] **Moshe Mizrahy回答** 新老产品线会并存一段时间,新平台不会立即完全替代老平台。新平台会为公司带来增量销售,但老平台仍有市场。预计新老平台共存4-5年后,老平台销售才会逐步下降。 [42][43] 问题3 **Joseph Stringer提问** 新产品平台的交付情况如何,制造能力是否受到影响? [53][54] **Moshe Mizrahy回答** 公司在以色列有两个制造基地,可以相互调配产能。新平台交付延迟主要是由于以色列局势影响,导致一些员工被征召。但公司正加班加点赶工,预计3-6个月内能完成所有预订单的交付。公司整体制造能力充足,可以在不增加设备的情况下将产能提升一倍。 [54]

Exhibit 99.1 InMode Reports First Quarter 2024 Financial Results; Quarterly Revenue of $80.3M Represents 24% Year-Over-Year Decrease; Pro Forma Revenue (including new platform pre-orders not yet available) of $96M; Company Announces Share Repurchase Program of Up to 8.37 Million Shares; and Appoints New Chairman of the Board of Directors YOKNEAM, Israel, May 2, 2024 - InMode Ltd. (Nasdaq: INMD) ("InMode"), a leading global provider of innovative medical technologies, today announced its consolidated financi ...

The market expects InMode (INMD) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended March 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates. The earnings report, which is expected to be released on May 2, 2024, might help the stock move higher if these key numbers are better tha ...

YOKNEAM, Israel, April 15, 2024 /PRNewswire/ -- InMode Ltd. (Nasdaq: INMD), a leading global provider of innovative medical technologies, responded to the recent petition to the U.S. Patent & Trademark Office filed by BTL Industries, Inc., in which BTL asks the USPTO to conduct an Inter Partes Review of InMode's U.S. Patent No. 8,961,511. Six months before BTL's petition, InMode sued BTL in the United States District Court for the Central District of California alleging that BTL's UltraFemme 360 and EmFemme ...

NEW YORK, April 13, 2024 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against InMode Ltd. ("InMode" or the "Company") (NASDAQ: INMD) and reminds investors of the April 15, 2024 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $100,000 In InMode To Co ...

Expects Q1 Revenue Between $80.0M-$80.1M, Pro Forma Revenue (including new platform pre-orders) Between $95.7M- $95.8M, Decreases FY 2024 Guidance to $485M-$495M Conference call to be held on Thursday, May 2, 2024, at 8:30 a.m. Eastern Time YOKNEAM, Israel, April 9, 2024 /PRNewswire/ -- InMode Ltd. (NASDAQ: INMD), a leading global provider of innovative medical technologies, announced today that it expects to release its financial results for the first quarter of 2024 before the Nasdaq market opens on Thurs ...