InMode rallies 5% on strong Q3 results, raises 2022 outlook

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INMODE ($NASDAQ:INMD): GAAP EPS of $0.54 misses by $0.03. Revenue of $607.2 million beats by $6.1 million InMode is trading 5% higher after the company posted better-than-expected results and forecast 2022 revenue, profit above estimates, helped by an increase in its minimally invasive and subdermal ablative treatments. INMD posted revenue of $607.2 million for the quarter, beating the Zacks Consensus Estimate by $6.1 million.

Earnings

“InMode’s second quarter results continue to demonstrate the broad-based momentum of our business with double-digit revenue growth in every region and across all product categories,” said Joe Dahan, InMode’s Chief Executive Officer. “Our focus on expanding our global reach and commercializing new technologies is driving strong top-line growth, and we are pleased to raise our full-year guidance to reflect this momentum.”

Stock Price

“We are very pleased with our strong performance in the third quarter,” said Inmode CEO Moshe Mizrahi. “Our results continue to be driven by the increasing adoption of our cutting-edge energy-based medical technologies across a broad range of indications.”

VI Analysis

Based on the VI star chart, INMODE LTD has a high health score of 8/10 considering its cashflows and debt, which means that it is capable of paying off debt and funding future operations. The company is strong in asset, growth, and profitability, but weak in dividend. INMODE LTD is classified as a “gorilla”, a type of company that has achieved stable and high revenue or earning growth due to its strong competitive advantage. Such companies are usually of interest to growth investors.

VI 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 is a medical technology company that designs, develops, manufactures, and markets minimally invasive aesthetic solutions. The company’s products are used by physicians and other medical professionals in a variety of applications, including body contouring, skin tightening, facial resurfacing, and the treatment of vascular and pigmented lesions. INMD’s products are based on its proprietary platform technologies, which include elos technology, fractional radiofrequency technology, and micro-needling technology. These technologies allow INMD’s products to be safe and effective for a wide range of patients. INMD has a strong track record of growth and profitability.

Looking ahead, INMD is well positioned for continued growth. The company is investing heavily in research and development to bring new products to market, and it has a strong sales and marketing team that is focused on driving adoption of its products. Given its strong fundamentals, INMD is a compelling investment opportunity for growth-oriented investors.