INMD - Inmode stock slides after macro conditions weigh on annual outlook

2023-12-06 07:12:09 ET

Inmode ( NASDAQ: INMD ) shares plunged 11% premarket on Wednesday after the medtech firm lowered its full-year 2023 guidance citing headwinds from the current macroeconomic environment.

The Yokneam, Israel-based firm sees stronger-than-expected headwinds resulting in a slowdown in platform sales, mainly in North America.

As a result, full year 2023 revenue is estimated to range between $485M-$495M, down from prior outlook of $500M-$510M. Adjusted earnings per diluted share are projected between $2.47 and $2.50, compared to the prior range of $2.53 to $2.57.

Analysts expect the company to earn $2.54 on revenue of $504.49M for the year.

More on InMode

• InMode: A Deep Analysis Into Its Mixed Picture
• InMode: Buying Opportunity At Oversold Market Levels
• InMode: Why It's Now The Best Time To Buy
• UBS cuts InMode to neutral, says macro factors clouding visibility
• InMode stock rallies 12% amid operations update in Israel, Q3 report

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