Q4 2025 Inmode Ltd Earnings Call Transcript
Key Points
- InMode Ltd (INMD) reported a slightly better-than-expected fourth quarter despite challenges in the aesthetic space.
- Revenue from consumables and services increased slightly, indicating early signs of stabilization in patient activity.
- The company launched new CO2 laser platforms in 2025, expanding its product portfolio.
- InMode Ltd (INMD) plans to introduce two new platforms in 2026, including a Korean-made Pico laser device.
- International sales, particularly in Europe, showed strong growth, with a 38% increase in Q4 compared to the previous year.
- Total revenue declined approximately 6% year over year, reflecting ongoing industry challenges.
- The North American market remains below historical demand levels, impacting overall performance.
- Gross margins decreased slightly, with GAAP gross margins at 78% compared to 79% in the previous year.
- Operating expenses increased, with a 13.5% rise in non-GAAP operating expenses in Q4 2025 compared to Q4 2024.
- The company anticipates a stabilization year in 2026, with revenue expected to be broadly in line with 2025, indicating limited growth prospects.
Good morning and welcome to InMode's fourth-quarter and full-year 2025 earnings 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's 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 website.
Changes in business, competitive, technological, regulatory, and other factors could cause actual results to 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
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