Q4 2024 Inmode Ltd Earnings Call Transcript
Key Points
- InMode Ltd (INMD) launched two new platforms, IgniteRF and OptimasMax, which are expected to see better adoption in 2025.
- The company maintained a strong emphasis on R&D, driving innovation despite challenging market conditions.
- InMode Ltd (INMD) returned more than $285 million to shareholders through share repurchases, representing approximately 19% of its share capital.
- The company plans to launch two new platforms in 2025, including a fractional laser CO2 platform, which is expected to gain traction.
- InMode Ltd (INMD) ended the year with a strong balance sheet, holding cash and cash equivalents, marketable securities, and deposits totaling $596.5 million.
- InMode Ltd (INMD) faced a 20% decrease in total revenue for 2024 compared to 2023, attributed to decreased demand and high interest rates.
- International sales outside the US decreased by 19% for the full year of 2024 compared to 2023.
- The company experienced a decline in minimally invasive procedures, impacting consumables and service revenue.
- Gross margin decreased slightly due to increased component costs and lower sales volumes.
- InMode Ltd (INMD) does not foresee an immediate economic turnaround, with no signs of improvement in the macroeconomic environment at the start of 2025.
Good day, and welcome to the InMode fourth quarter and full year 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, to review the Safe Harbor statement for today's call. Please go ahead.
Thank you, operator, and to everyone for joining us today. Welcome to InMode's fourth quarter and full year 2024 earnings 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 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 website.
Changes in business, competitive, technological, regulatory and other factors could cause actual results to differ materially from those expressed in the forward-looking statements made today. Our historical results are not
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