InMode First Quarter 2024 Earnings: Misses Expectations

InMode (NASDAQ:INMD) First Quarter 2024 Results

Key Financial Results

• Revenue: US$80.3m (down 24% from 1Q 2023).
• Net income: US$23.7m (down 42% from 1Q 2023).
• Profit margin: 30% (down from 38% in 1Q 2023). The decrease in margin was driven by lower revenue.
• EPS: US$0.28 (down from US$0.49 in 1Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

InMode Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 12%. Earnings per share (EPS) also missed analyst estimates by 28%.

Looking ahead, revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Medical Equipment industry in the US.

Performance of the American Medical Equipment industry.

The company's shares are up 2.0% from a week ago.

Balance Sheet Analysis

While earnings are important, another area to consider is the balance sheet. We have a graphic representation of InMode's balance sheet and an in-depth analysis of the company's financial position.

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