InMode Reports First Quarter 2026 Financial Results: Quarterly GAAP Revenue of $82 Million, Represents 5% Year-Over-Year Increase
InMode Reports First Quarter 2026 Financial Results: Quarterly GAAP Revenue of $82 Million, Represents 5% Year-Over-Year Increase |
| [06-May-2026] |
YOKNEAM, Israel, May 6, 2026 /PRNewswire/ -- InMode Ltd. (Nasdaq: INMD) ("InMode"), a leading global provider of innovative medical technologies, today announced its consolidated financial results for the first quarter of 2026.
First Quarter 2026 Highlights:
Management Comments "While the macroeconomic environment remains challenging, our total revenue this quarter reached our expectations, however our profitability was lower than expected," said Moshe Mizrahy, Chief Executive Officer of InMode. "We are continuing to re-shape our organization in North America and in Europe by enhancing our sales and management teams. While the demand in the aesthetics market may be deferred, it will not be diminished, and we believe we are well positioned for its return." First Quarter 2026 Financial Results Total GAAP revenues for the first quarter of 2026 were $82.0 million, an increase of 5% compared to $77.9 million in the first quarter of 2025. Yair Malca, Chief Financial Officer of InMode added, "We are encouraged to report that Q1 revenue increased 5% year over year, with the U.S. contributing meaningfully to this growth. These results reflect our ability to execute consistently, even in a softer market environment and expand outside of the U.S." GAAP gross margin for the first quarter of 2026 was 75%, compared to 78% for the first quarter of 2025. *Non-GAAP gross margin for the first quarter of 2026 was 75%, compared to 79% for the first quarter of 2025. GAAP operating margin for the first quarter of 2026 was 12%, compared to 20% in the first quarter of 2025. InMode reported GAAP net income of $11.6 million, or $0.18 per diluted share, in the first quarter of 2026, compared to $18.2 million, or $0.26 per diluted share, in the first quarter of 2025. On a *non-GAAP basis, InMode reported net income of $15.9 million, or $0.25 per diluted share, in the first quarter of 2026, compared to $21.4 million, or $0.31 per diluted share, in the first quarter of 2025. As of March 31, 2026, InMode had cash and cash equivalents, marketable securities and short-term bank deposits of $537.2 million. "In a quarter marked by ongoing macroeconomic uncertainty, we remained focused on what we can control: driving profitability, generating cash, and operating the business as usual. We also returned meaningful capital to shareholders, repurchasing $127.4 million of shares during 2025 and $52.7 million year to date under our new 2026 repurchase program, representing 3.86 million shares. With our strong financial position and continued flexibility, we remain well positioned to pursue a full range of capital allocation opportunities," concluded Malca. Departure of Chairman; Resignation of Chief Financial Officer The Company announced today that Dr. Michael Anghel has resigned from the Company's Board of Directors, effective May 5, 2026. His decision was not related to any disagreements with the Company's management, Board, or operations. The Company thanks Dr. Anghel for his service and wishes him continued success. Dr. Hadar Ron has been appointed Interim Chair of the Board, effective immediately. Separately, Yair Malca has stepped down from his role as Chief Financial Officer, effective May 5, 2026. The Company appreciates his contributions and thanks him for his service. To support a smooth transition, Mr. Malca will remain engaged with the Company in a consulting capacity for at least six months. 2026 Financial Outlook Management provided an outlook for the full fiscal year ending December 31, 2026. Based on current estimates, management expects:
This outlook is not a guarantee of future performance, and stockholders should not rely on such forward-looking statements. See "Forward-Looking Statements" for additional information. *Please refer to "Use of non-GAAP Financial Measures" below for important information about non-GAAP financial measures. A reconciliation between U.S. GAAP and non-GAAP Statement of Income is provided following the financial statements that are included in this release. Non-GAAP results exclude share-based compensation, expenses related to independent transaction committee review (representing non-recurring cost) and related income tax adjustments where applicable. However, these estimates are based on management's current estimates, which may be updated. The Current Situation in Israel Regarding the current situation in Israel, on October 9, 2025, a new cease-fire agreement between Hamas and Israel began, and the hostilities have formally paused after two years of conflicts. Moreover, On February 28, 2026, the United States and Israel launched coordinated joint military strikes against Iran, targeting military, governmental, and nuclear-related sites. Iran subsequently responded with missile and drone attacks against targets in the region and sought to restrict commercial shipping traffic through the Strait of Hormuz. On April 7, 2026, a two-week ceasefire established and was extended on April 21, 2026, by the U.S government, amid ongoing negotiations, while a U.S. naval blockade of Iran continued. The scope and severity of ongoing conflicts in Gaza, Northern Israel, Lebanon, Iran, and the broader region are unpredictable and could escalate any time. To date, our operations have not been materially affected. We continue to monitor political and military developments closely and examine the consequences for our operations and assets. Use of Non-GAAP Financial Measures In addition to InMode's operating results presented in accordance with GAAP, this release contains certain non-GAAP financial measures including non-GAAP net income, non-GAAP earnings per diluted share, non-GAAP operating margin, non-GAAP gross margin and non-GAAP income from operations. Because these measures are used in InMode's internal analysis of financial and operating performance, management believes they provide investors with greater transparency of its view of InMode's economic performance. Management also believes the presentation of these measures, when analyzed in conjunction with InMode's GAAP operating results, allows investors to more effectively evaluate and compare InMode's performance to that of its peers, although InMode's presentation of its non-GAAP measures may not be strictly comparable to the similarly titled measures of other companies. Schedules reconciling each of these non-GAAP financial measures are provided as a supplement to this release. Reconciliations of non-GAAP gross margin, non-GAAP income, and non-GAAP earnings for management's projections of such non-GAAP financials for the 2026 fiscal year are not available without unreasonable effort due to the variability, complexity and limited visibility of certain reconciling items. These reconciling items could have a significant and unpredictable impact on our future GAAP results. Conference Call Information Mr. Moshe Mizrahy, Chief Executive Officer, Dr. Michael Kreindel, Co-Founder and Chief Technology Officer and Mr. Yair Malca, Chief Financial Officer, will host a conference call today, May 6, 2026, at 8:30 a.m. Eastern Time to discuss the first quarter 2026 financial results. The Company encourages participants to pre-register for the conference call using the following link: https://dpregister.com/sreg/10207930/103b6ad5664. Callers will receive a unique dial-in number upon registration, which enables immediate access to the call. Participants may pre-register at any time, including up to and after the call start time. For callers who opt out of pre-registration, please dial one of the following teleconferencing numbers. Please begin by placing your call 10 minutes before the conference call commences. If you are unable to connect using the toll-free number, please try the international dial-in number. U.S./Canada Toll-Free Dial-in Number: 1-833-316-0562 At: The conference call will also be webcast live from a link on InMode's website at https://inmodemd.com/investors/events-presentations/. A replay of the conference call will be available from May 6, 2026, at 12 p.m. Eastern Time to May 20, 2026, at 11:59 p.m. Eastern Time. To access the replay, please dial one of the following numbers: Replay Dial-in U.S. /Canada TOLL-FREE: 1-855-669-9658 To access the replay using an international dial-in number, please select the link below: https://services.choruscall.com/ccforms/replay.html A replay of the conference call will also be available for 90 days on InMode's website at https://inmodemd.com/investors/. About InMode InMode is a leading global provider of innovative medical technologies. InMode develops, manufactures, and markets devices harnessing novel radio frequency ("RF") technology. InMode strives to enable new emerging surgical procedures as well as improve existing treatments. InMode has leveraged its medically accepted minimally invasive RF technologies to offer a comprehensive line of products across several categories for plastic surgery, gynecology, dermatology, otolaryngology, and ophthalmology. For more information about InMode, please visit www.inmodemd.com. Forward-Looking Statements The information in this press release includes forward-looking statements within the meaning of the federal securities laws. These statements generally relate to future events or InMode's future financial or operating performance, including the actual amount of share repurchases made by the Company, if any. Actual outcomes and results may differ materially from what is expressed or forecast in such forward-looking statements. In some cases, you can identify these statements because they contain words such as "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "predict," "project," "will," "would" and similar expressions that concern our expectations, strategic plans or intentions. Forward-looking statements are based on management's current expectations and assumptions, and are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Consequently, actual results could differ materially from those indicated in these forward-looking statements. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements included in InMode's Annual Report on Form 20-F filed with the Securities and Exchange Commission on February 10, 2026, and our subsequent public filings. InMode undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release. You are cautioned not to place undue reliance on these forward-looking statements, which pertain only as of the date of this press release.
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Company Codes: NASDAQ:INMD,NASDAQ-GS:INMD | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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