INMODE LTD Reports Strong Earnings for 2nd Quarter FY2023
July 30, 2023
☀️Earnings Overview
INMODE LTD ($NASDAQ:INMD) reported their financial results for the second quarter of FY2023, which ended on June 30 2023, on July 27 2023. Revenue for this quarter was USD 136.1 million, an increase of 19.8% compared to the same quarter in the previous fiscal year. Furthermore, net income increased by 26.5% year over year, amounting to USD 55.7 million.
Price History
On Thursday, INMODE LTD reported strong earnings for the second quarter of the fiscal year 2023. The company’s stock opened at $46.1 and closed at $44.1, representing a decrease of 2.2% from the previous closing price of $45.0. This increase was largely driven by strong sales and the successful execution of cost-savings initiatives.
The company’s strong results were largely attributed to their strong focus on innovation and customer service. Going forward, they are confident that their new products and services will help them achieve even greater success in the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Inmode Ltd. More…
| Total Revenues | Net Income | Net Margin |
| 496.96 | 182.73 | 36.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Inmode Ltd. More…
| Operations | Investing | Financing |
| 176.86 | -108.96 | 3.69 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Inmode Ltd. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 734.08 | 67.93 | 6.66 |
Key Ratios Snapshot
Some of the financial key ratios for Inmode Ltd are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 46.4% | 63.9% | 42.6% |
| FCF Margin | ROE | ROA |
| 35.3% | 23.9% | 18.0% |
Analysis
GoodWhale has conducted an analysis of INMODE LTD‘s fundamentals, and our Star Chart shows that INMODE LTD has a high health score of 10/10 with regard to its cashflows and debt, indicating that it is capable of sustaining future operations in times of crisis. We have classified INMODE LTD as ‘gorilla’ – a type of company we conclude has achieved stable and high revenue or earning growth due to its strong competitive advantage. We believe that INMODE LTD would be attractive to investors who prioritize asset and growth over dividend. Specifically, INMODE LTD is strong in asset, growth, and profitability, but relatively weak in dividend. This makes it an attractive option for investors looking to benefit from asset and growth without sacrificing too much in dividend yield. More…
Peers
The market for aesthetic medical device is highly competitive with InMode Ltd. facing competition from Cutera Inc., Viveve Medical Inc., and Apyx Medical Corp. All four companies offer a range of products that target different areas of the body and address different aesthetic concerns. InMode Ltd. has a strong portfolio of products that are backed by clinical data and have a proven track record of safety and efficacy. The company’s products are also available in a variety of price points to meet the needs of different consumers.
– Cutera Inc ($NASDAQ:CUTR)
Cutera Inc is a medical device company that provides aesthetic treatments to patients worldwide. Founded in 1998, Cutera is headquartered in Brisbane, California, and has a market cap of 931.59M as of 2022. The company’s Return on Equity is -111.73%. Cutera’s products are used by physicians and other healthcare professionals to treat conditions such as wrinkles, acne, vascular lesions, and unwanted hair. The company’s products include laser and light-based devices, intense pulsed light devices, and radiofrequency devices.
– Viveve Medical Inc ($NASDAQ:VIVE)
Viveve Medical Inc. is a medical technology company that focuses on the treatment of female intimate health conditions. The company’s flagship product is the Viveve System, which is used to treat vaginal laxity, the condition where the vaginal walls become stretched and loose. The Viveve System uses radiofrequency energy to heat tissue and stimulate collagen production, which results in tighter, healthier tissue.
Viveve Medical Inc has a market cap of 6.19M as of 2022. The company’s Return on Equity is -179.17%. The company’s flagship product is the Viveve System, which is used to treat vaginal laxity. The Viveve System uses radiofrequency energy to heat tissue and stimulate collagen production, which results in tighter, healthier tissue.
– Apyx Medical Corp ($NASDAQ:APYX)
Apyx Medical Corp is a medical device company that develops, manufactures, and markets radiofrequency (RF) products for the global surgical market. The company’s products include the Renuvion System, a minimally invasive RF technology for tissue remodeling and tightening, and the J-Plasma System, a next-generation plasma-based technology.
Apyx Medical Corp has a market cap of 149.01M as of 2022, a Return on Equity of -22.62%. The company develops, manufactures, and markets radiofrequency (RF) products for the global surgical market. The company’s products include the Renuvion System, a minimally invasive RF technology for tissue remodeling and tightening, and the J-Plasma System, a next-generation plasma-based technology.
Summary
INMODE LTD‘s second quarter of FY2023 has shown strong financial performance, with total revenue increasing 19.8% and net income increasing 26.5%. The company’s year over year growth indicates that their strategies have been successful and profitable for investors. Looking forward, INMODE LTD should remain a positive stock option for investors who are seeking low risk, high return investments. Analysts predict that the company will continue outperforming the market, making it an attractive option for investors looking to diversify their portfolios.
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