INMD - InMode ends four-day skid as Q4 results top expectations
Following a four-day decline, the shares of Israel-based MedTech company InMode Ltd. ( NASDAQ: INMD ) gained on Tuesday as the company's Q4 2022 results exceeded Street forecasts despite underwhelming earnings guidance.
The company focused on cosmetic procedure technologies reported $133.6M in revenue and $66.4M in non-GAAP net income for the quarter with~21% YoY and ~20% YoY growth, beating analyst estimates.
Its adj. earnings guidance for 2023 stood at $2.58 – $2.60 per diluted share compared to $2.64 in the consensus, while the revenue outlook of $525M – $530M was in line with the consensus.
Revenue for the full year reached $454.3M indicating ~27% YoY growth driven by demand for our minimally invasive platforms, while international revenue climbed ~29% YoY.
"We are happy to report another record revenue year and continuously high profitable growth as we scale globally and reach a yearly revenue run rate nearing $500 million," Chief Executive Moshe Mizrahy remarked.
On a reported basis, Inmode's ( INMD ) gross margin slipped to ~84% in Q4 and full year 2022 from ~85% in the prior periods, while operating margins contracted to ~45% and 44% from ~49% and ~47%, respectively.
Read: Seeking Alpha contributor issued a Hold rating for InMode ( INMD ), expecting the company to record $434M in revenue for 2023.
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InMode ends four-day skid as Q4 results top expectations