Q2 2024 Inmode Ltd Earnings Call Transcript
Key Points
- InMode Ltd (INMD) successfully launched two new advanced platforms, IgniteRF and Optimus Max, which are expected to contribute significantly to future growth.
- The company reported strong demand for its new platforms, with deliveries of preorders expected to be completed by the end of the year.
- InMode Ltd (INMD) maintains a strong balance sheet with cash and cash equivalents, marketable securities, and deposits totaling $729.2 million as of June 30, 2024.
- The company continues to invest in research and development to provide medical professionals with advanced technologies.
- InMode Ltd (INMD) completed a share repurchase program, acquiring 8.37 million shares, reflecting confidence in its financial position.
- InMode Ltd (INMD) faced a challenging second quarter with a major decrease in demand for treatments, particularly in the US market.
- The company reported a decline in international sales, with a 17% decrease compared to Q2 of the previous year.
- GAAP operating margin decreased significantly to 21% from 42% in the second quarter of 2023.
- The company lowered its full-year 2024 revenue guidance from $485 million-$495 million to $430 million-$440 million.
- InMode Ltd (INMD) experienced a 30% decrease in disposable sales in the US, indicating reduced procedural demand.
Good day, and welcome, to Inmode second quarter 2024 earnings results conference call. (Operator Instructions) Please note this event is being recorded. I would now like to turn the conference over to Miri Segal, CEO of MS-IR. Please go ahead.
Thank you, operator, and everyone for joining us today. Welcome to InMode conference call. Before we begin, I would like to remind our listeners that certain information provided on this call may contain forward-looking statements and the Safe Harbor statement outlined in today's earnings release also pertains to this call.
If you have not received a copy of the release, please visit the Investor Relations section of the company's IR website. Changes in business, competitive, technological, regulatory and other factors could cause actual results differ materially from those expressed by the forward-looking statements made today. Our historical results are not necessarily indicative of future performance.
As such we can give no assurance as to the accuracy of
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