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After four days of declines, shares of Israel-based MedTech, InMode Ltd. (NASDAQ:INMD) rose on Tuesday as the company’s Q4 2022 results beat Street forecasts despite low earnings guidance.
The company focuses on cosmetic procedures technologies reported $133.6 million in revenue and $66.4 million in non-GAAP net income for the quarter with ~21% YoY and ~20% YoY growth, beating analyst estimates. accumulate.
its adj. earnings guidance for 2023 stands at $2.58 – $2.60 per diluted share versus $2.64 by consensus, while the revenue outlook is $525 million – $530 million dollars consistent with the consensus.
Full-year revenue came in at $454.3 million, showing ~27% year-over-year growth driven by demand for our minimally invasive platforms, while international sales grew ~29% YoY.
CEO Moshe Mizrahy commented: “We are pleased to report another year of record revenue and consistently high profit growth as we expand globally and reach near-annual revenue rates. 500 million dollars”.
On a reported basis, Inmode’s (INMD) gross margin dropped to ~84% in Q4 and full year 2022 from ~85% in previous periods, while operating margin dropped to ~45% and 44% from ~49% respectively and ~47%.
Read: Seeking Alpha Contributor gave InMode Hold rating (INMD) before earnings, expect the company to recognize $434M in revenue for 2023.
