INMD - Here's Why InMode Stock Was Up 197% Last Year
Shares of medical company InMode (NASDAQ: INMD) were up 197.3% in 2021, according to data provided by S&P Global Market Intelligence . This company went public in 2019, and its initial public offering (IPO) was priced at just $14 per share. In its still-short public history, it's nearly quadrupled from that IPO price largely because its underlying business has grown by leaps and bounds. And a lot of that growth came in 2021.
InMode makes medical devices that emit radio frequencies, a minimally and (in some cases) non-invasive way to perform types of plastic surgery and skin care, among other things. Let's frame 2021's narrative by first looking at the storyline in 2020. In 2020, InMode generated record revenue of $206 million, which was up 32% from 2019 despite challenges from the COVID-19 pandemic.
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Here's Why InMode Stock Was Up 197% Last Year