InMode Ltd. (INMD) Tops Q3 EPS by 12c, Revenue sBeat

InMode Ltd. (NASDAQ: INMD) reported Q3 EPS of $0.42, $0.12 better than the analyst estimate of $0.30. Revenue for the quarter came in at $40 million versus the consensus estimate of $35.5 million.

Third Quarter 2019 Highlights:

• Record quarterly revenue of $40 million, an increase of 57% as compared to the third quarter in 2018
• Net income of $16.2 million, 87% increase year-over-year
• Fully diluted earnings per share of $0.42, an increase of 62% as compared to the third quarter in 2018
• 88% increase in international revenue as compared to the third quarter in 2018, driven primarily by European and Asian sales
• Total cash position of $166.3 million as of September 30, 2019, including cash and cash equivalents, marketable securities and deposits

"We went public during the third quarter and we are happy to report continuous solid growth in revenues and profitability," commented Moshe Mizrahy, Chief Executive Officer and Chairman of the Board. "The demand for our unique, minimally invasive technology in the United States and abroad is increasing and we plan to penetrate new international markets while maintaining profitable growth. InMode's proprietary bipolar RF technologies fill the treatment gap in face and body aesthetic surgery by offering outpatient alternatives that address the shortcomings of traditional surgery with less downtime, lower costs and comparable results. We believe our strong cash position will enable us to maintain our growth efforts and will support the ongoing launch of new and innovative platforms," Mizrahy added.

For earnings history and earnings-related data on InMode Ltd. (INMD) click here.

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