InMode Reports First Quarter 2024 Financial Results; Quarterly Revenue of $80.3M Represents 24% Year-Over-Year Decrease; Pro Forma Revenue (Including New Platform Pre-orders Not yet Available) of $96M;
InMode Reports First Quarter 2024 Financial Results; Quarterly Revenue of $80.3M Represents 24% Year-Over-Year Decrease; Pro Forma Revenue (Including New Platform Pre-orders Not yet Available) of $96M;
Company Announces Share Repurchase Program of Up to 8.37 Million Shares; and
公司宣佈高達837萬股的股票回購計劃;以及
Appoints New Chairman of the Board of Directors
任命新的董事會主席
YOKNEAM, Israel, May 2, 2024 /PRNewswire/ -- InMode Ltd. (Nasdaq: INMD) ("InMode"), a leading global provider of innovative medical technologies, today announced its consolidated financial results for the first quarter ended March 31, 2024.
以色列約克尼姆,2024 年 5 月 2 日 /PRNewswire/-- InMode Ltd. (納斯達克: INMD) (“InMode”)全球領先的創新醫療技術提供商,今天公佈了截至2024年3月31日的第一季度合併財務業績。
First Quarter 2024 Highlights:
2024 年第一季度亮點:
- Quarterly GAAP revenue of $80.3 million, a decrease of 24% compared to the first quarter of 2023. InMode's proprietary surgical technology platforms engaged in minimally invasive and subdermal ablative treatments represented 84% of its quarterly revenues, while 11% were derived from InMode's traditional laser and non-invasive RF platforms and 5% were derived from InMode's hands-free platforms. Pro-forma revenue (including pre-orders of new platforms not yet available) of $96 million.
- GAAP net income of $23.7 million, compared to $40.5 million in the first quarter of 2023; *non-GAAP net income of $27.7 million, compared to $44.7 million in the first quarter of 2023.**Pro-Forma Non-GAAP net income of $38.8 million.
- GAAP diluted earnings per share of $0.28, compared to $0.47 in the first quarter of 2023; *non-GAAP diluted earnings per share of $0.32, compared to $0.52 in the first quarter of 2023. **Pro-Forma Non-GAAP diluted earnings per share of $0.45.
- Record quarterly revenues from consumables and service of $22.5 million, an increase of 13% compared to the first quarter of 2023.
- Total cash position of $770.5 million as of March 31, 2024, including cash and cash equivalents, marketable securities, and short-term bank deposits.
- 季度GAAP收入爲8,030萬美元,與2023年第一季度相比下降了24%。InMode從事微創和皮下消融治療的專有手術技術平台佔其季度收入的84%,而11%來自InMode的傳統激光和非侵入性射頻平台,5%來自InMode的免提平台。預計收入(包括尚未上市的新平台的預購)爲9,600萬美元。
- GAAP淨收入爲2370萬美元,而2023年第一季度爲4,050萬美元;*非公認會計准則淨收入爲2770萬美元,而2023年第一季度爲4,470萬美元。**Pro-Forma非公認會計准則淨收入爲3,880萬美元。
- GAAP攤薄後的每股收益爲0.28美元,而2023年第一季度爲0.47美元;*非公認會計准則攤薄後的每股收益爲0.32美元,而2023年第一季度爲0.52美元。**Pro-Forma非公認會計准則攤薄後每股收益爲0.45美元。
- 消耗品和服務的季度收入創紀錄的2,250萬美元,與2023年第一季度相比增長了13%。
- 截至2024年3月31日,總現金狀況爲7.705億美元,包括現金及現金等價物、有價證券和短期銀行存款。
U.S. GAAP Results (U.S. dollars in thousands, except for per share data) | ||
Q1 2024 |
Q1 2023 | |
Revenues |
$80,284 |
$106,074 |
Gross Margins |
80 % |
83 % |
Net Income |
$23,696 |
$40,505 |
Earnings per Diluted Share |
$0.28 |
$0.47 |
*Non-GAAP Results (U.S. dollars in thousands, except for per share data) | ||
Q1 2024 |
Q1 2023 | |
Gross Margins |
80 % |
83 % |
Net Income |
$27,679 |
$44,714 |
Earnings per Diluted Share |
$0.32 |
$0.52 |
**Pro-Forma Non-GAAP Results (U.S. dollars in thousands, except for per share data) | ||
Q1 2024 |
Q1 2023 | |
Revenue |
$96,007 |
$106,074 |
Gross Margins |
82 % |
83 % |
Net Income |
$38,776 |
$44,714 |
Earnings per Diluted Share |
$0.45 |
$0.52 |
美國公認會計准則業績 (以千美元計,每股數據除外) | ||
2024 年第一季度 |
2023年第一季度 | |
收入 |
80,284 美元 |
106,074 美元 |
毛利率 |
80% |
83% |
淨收入 |
23,696 美元 |
40,505 美元 |
攤薄後每股收益 |
0.28 |
0.47 美元 |
*非公認會計准則業績 (以千美元計,每股數據除外) | ||
2024 年第一季度 |
2023年第一季度 | |
毛利率 |
80% |
83% |
淨收入 |
27,679 美元 |
44,714 美元 |
攤薄後每股收益 |
0.32 美元 |
0.52 美元 |
**預計的非公認會計准則業績 (以千美元計,每股數據除外) | ||
2024 年第一季度 |
2023年第一季度 | |
收入 |
96,007 美元 |
106,074 美元 |
毛利率 |
82% |
83% |
淨收入 |
38,776 美元 |
44,714 美元 |
攤薄後每股收益 |
0.45 美元 |
0.52 美元 |
*Please refer to "Use of Non-GAAP Financial Measures" below for important information about non-GAAP financial measures. A | |
** Pro-forma Non-GAAP results includes pre-orders of new platforms not yet available and excludes share-based compensation. |
*有關非公認會計准則財務指標的重要信息,請參閱下面的 “非公認會計准則財務指標的使用”。一個 | |
** 預計的非公認會計准則業績 包括尚未上市的新平台的預購,不包括基於股份的補償。 |
Management Comments
管理層評論
"This year started with pre-orders in the United States for our two new and advanced platforms: IgniteRF and Optimus Max, and we believe these platforms will play a significant role as growth catalysts for our company in the future," said Moshe Mizrahy, Chief Executive Officer. "Although we were unable to set up manufacturing lines and build inventory for the new platforms fast enough to start delivery in the first quarter, we are working hard to promptly fulfill these orders. We anticipate delivery of open orders and building sufficient level of inventory by the second half of this year.
首席執行官摩西·米茲拉希表示:“今年一開始,我們的兩個新的高級平台即IgniTerf和Optimus Max在美國進行了預訂,我們相信這些平台將在未來作爲我們公司的增長催化劑發揮重要作用。”“儘管我們無法足夠快地爲新平台建立生產線和建立庫存,無法在第一季度開始交付,但我們正在努力迅速完成這些訂單。我們預計,到今年下半年,未結訂單將交付,庫存將達到足夠的水平。
"We are happy to announce that our Board of Directors has approved another share repurchase program, authorizing the buyback of up to 8.37 million shares. This marks the third such program in just four years, underscoring our confidence in the Company's future success and our commitment to enhancing shareholders' value.
“我們很高興地宣佈,我們的董事會已經批准了另一項股票回購計劃,授權回購多達837萬股股票。這是短短四年來的第三次此類計劃,凸顯了我們對公司未來成功的信心以及我們對提高股東價值的承諾。
"I would like to welcome Dr. Michael Anghel as our new Chairman of the Board, beginning July 25, 2024. Dr. Anghel has been a board member since 2019, and we look forward to benefitting from his financial and strategical expertise," Mizrahy concluded.
“我歡迎邁克爾·安格爾博士自2024年7月25日起擔任我們的新任董事會主席。安格爾博士自2019年以來一直是董事會成員,我們期待從他的財務和戰略專業知識中受益,” 米茲拉希總結道。
First Quarter 2024 Financial Results
2024 年第一季度財務業績
Total GAAP revenues for the first quarter of 2024 reached $80.3 million, a decrease of 24% compared to $106.1 million in first quarter of 2023. Pro-forma revenue reached $96 million.
2024年第一季度的GAAP總收入達到8,030萬美元,與2023年第一季度的1.061億美元相比下降了24%。預計收入達到9,600萬美元。
"During the first quarter, we began taking orders for some of our new platforms, though we are not able to recognize those sales as revenue until the pre-orders are delivered," said Yair Malca, Chief Financial Officer. "We expect to report revenue from those orders over the next couple of quarters upon the delivery of the new platforms. We are encouraged by sales outside of North America in the first quarter, especially in Europe, where revenues reached a record number."
首席財務官亞爾·馬爾卡表示:“在第一季度,我們開始接受一些新平台的訂單,儘管在預購交付之前,我們無法將這些銷售確認爲收入。”“我們預計將在新平台交付後的未來幾個季度內報告這些訂單的收入。第一季度北美以外的銷售令我們感到鼓舞,尤其是在歐洲,那裏的收入創下了歷史新高。”
GAAP and *Non-GAAP gross margin for the first quarter of 2024 was 80% compared to a gross margin of 83% for the first quarter of 2023. **Pro-forma Non-GAAP gross margin for the first quarter of 2024 was 82%.
2024年第一季度的公認會計准則和*非公認會計准則毛利率爲80%,而2023年第一季度的毛利率爲83%。**2024年第一季度的預計非公認會計准則毛利率爲82%。
GAAP operating margin for the first quarter of 2024 was 23%, compared to an operating margin of 39% in the first quarter of 2023. *Non-GAAP operating margin for the first quarter of 2024 was 27% compared to 43% for the first quarter of 2023. **Pro-forma Non-GAAP operating margin for the first quarter of 2024 was 35%. This decrease was primarily attributable to the decrease in systems sales in North America.
2024年第一季度的GAAP營業利潤率爲23%,而2023年第一季度的營業利潤率爲39%。*2024年第一季度的非公認會計准則營業利潤率爲27%,而2023年第一季度爲43%。**2024年第一季度的預計非公認會計准則營業利潤率爲35%。這一下降主要歸因於北美的系統銷售下降。
InMode reported GAAP net income of $23.7 million, or $0.28 per diluted share, in the first quarter of 2024, compared to $40.5 million, or $0.47 per diluted share, in the first quarter of 2023. On a *Non-GAAP basis, InMode reported net income of $27.7 million, or $0.32 per diluted share, in the first quarter of 2024, compared to $44.7 million, or $0.52 per diluted share, in the first quarter of 2023. **Pro-forma Non-GAAP net income of $38.8 million, or $0.45 per diluted share, in the first quarter of 2024.
InMode公佈的2024年第一季度GAAP淨收益爲2370萬美元,攤薄每股收益爲0.28美元,而2023年第一季度爲4,050萬美元,攤薄每股收益0.47美元。按*非公認會計准則計算,InMode公佈的2024年第一季度淨收益爲2770萬美元,攤薄每股收益爲0.32美元,而2023年第一季度爲4,470萬美元,攤薄每股收益0.52美元。**2024年第一季度的預計非公認會計准則淨收益爲3,880萬美元,攤薄每股收益爲0.45美元。
2024 Financial Outlook
2024 年財務展望
Management provided an outlook for the full year of 2024 ending December 31, 2024. Based on current estimates, management expects:
管理層提供了截至2024年12月31日的2024年全年展望。根據目前的估計,管理層預計:
- Full Year 2024 revenue to be $485 to $495 million compared to previous guidance of $495 million to $505 million
- *Non-GAAP gross margin between 82% and 84% compared to previous guidance of 83% to 85%
- *Non-GAAP income from operations between $169 million and $174 million compared to previous guidance of $217 million to $222 million
- *Non-GAAP earnings per diluted share between $2.01 and $2.05 compared to previous guidance of $2.53 to $2.57
- 2024年全年收入爲4.85億美元至4.95億美元,而之前的預期爲4.95億美元至5.05億美元
- *非公認會計准則毛利率在82%至84%之間,而之前的預期爲83%至85%
- *非公認會計准則運營收入在1.69億美元至1.74億美元之間,而之前的預期爲2.17億美元至2.22億美元
- *非公認會計准則攤薄後每股收益在2.01美元至2.05美元之間,而之前的預期爲2.53美元至2.57美元
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 adjustments. | |
** Pro-forma Non-GAAP results includes pre-orders of new platforms not yet available and excludes share-based compensation. |
這種前景並不能保證未來的表現,股東不應依賴此類前瞻性陳述。有關更多信息,請參見 “前瞻性陳述”。 | |
*有關非公認會計准則財務指標的重要信息,請參閱下面的 “非公認會計准則財務指標的使用”。在本新聞稿中包含的財務報表之後,提供了美國公認會計原則和非公認會計准則損益表之間的對賬表。非公認會計准則業績不包括基於股份的薪酬調整。 | |
** 預計的非公認會計准則業績包括尚未上市的新平台的預購,不包括基於股份的薪酬。 |
The Current Situation in Israel
以色列的現狀
Regarding the current situation in Israel, management would like to assure investors that the Company is prioritizing the safety and well-being of its employees, and all its team are safe. However, an inability to promptly receive needed supplies and materials due to the ongoing and unpredictable nature of the conflict in Israel and the surrounding region may adversely impact our ability to commercialize and manufacture our product candidates and products in a timely manner. This could cause several delays and/or issues for our operations, which in turn would have a material adverse impact on our ability to commercialize our product candidates and our financial condition.
關於以色列的當前局勢,管理層希望向投資者保證,該公司將員工的安全和福祉放在首位,所有團隊都是安全的。但是,由於以色列及周邊地區衝突的持續和不可預測性,無法及時獲得所需的物資和材料,可能會對我們及時商業化和生產候選產品和產品的能力產生不利影響。這可能會導致我們的運營出現多次延誤和/或問題,這反過來又會對我們將候選產品商業化的能力和財務狀況產生重大的不利影響。
Use of Non-GAAP Financial Measures
非公認會計准則財務指標的使用
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 as well as Pro-forma Non-GAAP revenue, pro-forma Non-GAAP net income, pro-forma non-GAAP earnings per diluted share and pro-forma non-GAAP operating margin. 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.
除了InMode根據公認會計原則公佈的經營業績外,本新聞稿還包含某些非公認會計准則財務指標,包括非公認會計准則淨收益、非公認會計准則攤薄後每股收益、非公認會計准則營業利潤率以及預計的非公認會計准則收入、預計的非公認會計准則攤薄後每股收益和預計的非公認會計准則營業利潤率。由於這些指標用於InMode對財務和經營業績的內部分析,因此管理層認爲它們使投資者對InMode經濟表現的看法更加透明。管理層還認爲,將這些指標的列報與InMode的GAAP經營業績結合起來進行分析,可以使投資者更有效地評估和比較InMode的業績,並將其與同行的業績進行比較,儘管InMode提出的非公認會計准則指標可能無法與其他公司的類似標題的指標進行嚴格比較。協調每項非公認會計准則財務指標的時間表作爲本新聞稿的補充提供。
Conference Call Information
電話會議信息
Mr. Moshe Mizrahy, Chief Executive Officer, Dr. Michael Kreindel, Co-Founder and Chief Technology Officer, Mr. Yair Malca, Chief Financial Officer, Mr. Shakil Lakhani, President of North America, and Dr. Spero Theodorou, Chief Medical Officer, will host a conference call today, May 02, 2024, at 8:30 a.m. Eastern Time to discuss the first quarter 2024 financial results.
首席執行官摩西·米茲拉希先生、聯合創始人兼首席技術官邁克爾·克雷因德爾博士、首席財務官亞爾·馬爾卡先生、北美總裁沙基爾·拉哈尼先生和首席醫療官斯佩羅·西奧多羅博士將於今天,即美國東部時間2024年5月2日上午8點30分主持電話會議,討論2024年第一季度的財務業績。
The Company encourages participants to pre-register for the conference call using the following link:
公司鼓勵參與者 使用以下鏈接預註冊電話會議:
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.
呼叫者在註冊後將收到一個唯一的撥入號碼,這樣可以立即接聽電話。參與者可以隨時進行預註冊,包括通話開始之前和之後。
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.
對於選擇退出預註冊的來電者,請撥打以下電話會議號碼之一。首先,請在電話會議開始前 10 分鐘撥打電話。如果您無法使用免費電話進行連接,請嘗試使用國際撥入號碼。
U.S. Toll-Free Dial-in Number: 1-833-316-0562
Israel Toll- Free Dial-in Number: 1-80-921-2373
International Dial-in Number: 1-412-317-5736
Webcast URL: https://event.choruscall.com/mediaframe/webcast.html?webcastid=Q0VCLo65
At:
8:30 a.m. Eastern Time
5:30 a.m. Pacific Time
美國免費撥入號碼: 1-833-316-0562
以色列免費撥入號碼: 1-80-921-2373
國際撥入號碼: 1-412-317-5736
網絡直播網址: https://event.choruscall.com/mediaframe/webcast.html?webcastid=Q0VCLo65
在:
美國東部時間上午 8:30
太平洋時間上午 5:30
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 02, 2024, at 12 p.m. Eastern Time to May 16, 2024, at 11:59 p.m. Eastern Time. To access the replay, please dial one of the following numbers:
電話會議還將通過InMode網站上的鏈接進行網絡直播 https://inmodemd.com/investors/events-presentations/。 電話會議的重播時間爲美國東部時間2024年5月2日中午12點至美國東部時間2024年5月16日晚上 11:59。要觀看重播,請撥打以下號碼之一:
Replay Dial-in U.S TOLL-FREE: 1-877-344-7529
Replay Dial-in Canada TOLL-FREE: 855-669-9658
Replay Dial-in TOLL/INTERNATIONAL: 1-412-317-0088
Replay Pin Number: 9531570
重播撥入美國免費電話: 1-877-344-7529
重播撥入加拿大免費電話: 855-669-9658
重播撥入電話/國際: 1-412-317-0088
重播密碼號: 9531570
To access the replay using an international dial-in number, please select the link below:
要使用國際撥入號碼觀看重播,請選擇以下鏈接:
A replay of the conference call will also be available for 90 days on InMode's website at https://inmodemd.com/investors/.
電話會議的重播也將在InMode的網站上播出爲期90天,網址爲 https://inmodemd.com/investors/。
About InMode
關於 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.
InMode 是全球領先的創新醫療技術提供商。InMode 開發、製造和銷售利用新型射頻(“RF”)技術的設備。InMode 致力於支持新興的外科手術,並改善現有治療方法。InMode 利用其醫學認可的微創射頻技術,爲整形外科、婦科、皮膚科、耳鼻喉科和眼科等多個類別提供了全面的產品線。有關 InMode 的更多信息,請訪問 www.inmodemd.com。
Forward-Looking Statements
前瞻性陳述
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 2024 revenue projection described above. 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 13, 2024, and our future 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.
本新聞稿中的信息包括聯邦證券法所指的前瞻性陳述。這些陳述通常與未來事件或InMode的未來財務或經營業績有關,包括上述2024年的收入預測。實際結果和結果可能與此類前瞻性陳述中表達或預測的結果存在重大差異。在某些情況下,您可以識別這些陳述,因爲它們包含 “預期”、“相信”、“估計”、“期望”、“打算”、“可能”、“計劃”、“預測”、“項目”、“將”、“將” 等詞語以及與我們的預期、戰略計劃或意圖相關的類似表述。前瞻性陳述基於管理層當前的預期和假設,受固有的不確定性、風險和難以預測的情況變化的影響。因此,實際結果可能與這些前瞻性陳述中顯示的結果存在重大差異。在考慮這些前瞻性陳述時,您應牢記InMode於2024年2月13日向美國證券交易委員會提交的20-F表年度報告以及我們未來的公開文件中包含的風險因素和其他警示性陳述。InMode不承擔任何義務,也不打算更新這些前瞻性陳述以反映本新聞稿之後發生的事件或情況。提醒您不要過分依賴這些前瞻性陳述,這些陳述僅適用於本新聞稿發佈之日。
Company Contact: Yair Malca Chief Financial Officer Phone: (949) 305-0108 Email: Yair.Malca@inmodemd.com |
Investor Relations Contact: Miri Segal MS-IR LLC Email: ir@inmodemd.com |
公司聯繫人: Yair Malca 首席財務官 電話:(949) 305-0108 電子郵件: Yair.Malca@inmodemd.com |
投資者關係聯繫人: Miri Segal MS-IR LLC 電子郵件: ir@inmodemd.com |
INMODE LTD. | ||
CONDENSED CONSOLIDATED STATEMENTS OF INCOME | ||
(U.S. dollars in thousands, except for per share data) | ||
(Unaudited) | ||
Three months ended | ||
2024 |
2023 | |
REVENUES |
80,284 |
106,074 |
COST OF REVENUES |
16,365 |
18,254 |
GROSS PROFIT |
63,919 |
87,820 |
OPERATING EXPENSES: | ||
Research and development |
3,518 |
3,102 |
Sales and marketing |
39,795 |
41,713 |
General and administrative |
2,514 |
2,008 |
TOTAL OPERATING EXPENSES |
45,827 |
46,823 |
OPERATIONS INCOME |
18,092 |
40,997 |
Finance income, net |
7,984 |
3,289 |
INCOME BEFORE INCOME TAXES |
26,076 |
44,286 |
INCOME TAXES |
2,380 |
3,781 |
NET INCOME |
23,696 |
40,505 |
EARNINGS PER SHARE: | ||
Basic |
0.28 |
0.49 |
Diluted |
0.28 |
0.47 |
WEIGHTED AVERAGE NUMBER OF SHARES | ||
Basic |
84,523 |
83,154 |
Diluted |
85,965 |
85,387 |
INMODE LTD. | ||
簡明合併收益表 | ||
(以千美元計,每股數據除外) | ||
(未經審計) | ||
三個月已結束 | ||
2024 |
2023 | |
收入 |
80,284 |
106,074 |
收入成本 |
16,365 |
18,254 |
毛利 |
63,919 |
87,820 |
運營費用: | ||
研究和開發 |
3,518 |
3,102 |
銷售和營銷 |
39,795 |
41,713 |
一般和行政 |
2,514 |
2,008 |
總運營費用 |
45,827 |
46,823 |
運營收入 |
18,092 |
40,997 |
財務收入,淨額 |
7,984 |
3,289 |
所得稅前收入 |
26,076 |
44,286 |
所得稅 |
2,380 |
3,781 |
淨收入 |
23,696 |
40,505 |
每股收益: | ||
基本 |
0.28 |
0.49 |
稀釋 |
0.28 |
0.47 |
加權平均股票數 | ||
基本 |
84,523 |
83,154 |
稀釋 |
85,965 |
85,387 |
INMODE LTD. | ||
CONDENSED CONSOLIDATED BALANCE SHEETS | ||
(U.S. dollars in thousands, except for per share data) | ||
(Unaudited) | ||
March 31, 2024 |
December 31, 2023 | |
Assets | ||
CURRENT ASSETS: | ||
Cash and cash equivalents |
120,930 |
144,411 |
Marketable securities |
390,782 |
373,647 |
Short-term bank deposits |
258,829 |
223,547 |
Accounts receivable, net of allowance for credit losses |
33,102 |
42,362 |
Prepaid expense and other receivables |
18,939 |
16,268 |
Inventories |
51,602 |
45,095 |
TOTAL CURRENT ASSETS |
874,184 |
845,330 |
NON-CURRENT ASSETS: | ||
Accounts receivable, net of allowance for credit losses |
3,435 |
3,670 |
Deferred income tax asset |
1,494 |
1,506 |
Operating lease right-of-use assets |
9,593 |
9,698 |
Property and equipment, net |
2,329 |
2,382 |
Other investments |
700 |
700 |
TOTAL NON-CURRENT ASSETS |
17,551 |
17,956 |
TOTAL ASSETS |
891,735 |
863,286 |
Liabilities and shareholders' equity | ||
CURRENT LIABILITIES: | ||
Accounts payable |
13,223 |
13,966 |
Contract liabilities |
20,516 |
10,923 |
Other liabilities |
31,256 |
39,247 |
TOTAL CURRENT LIABILITIES |
64,995 |
64,136 |
NON-CURRENT LIABILITIES: | ||
Contract liabilities |
3,435 |
3,766 |
Other liabilities |
1,657 |
1,399 |
Operating lease liabilities |
6,213 |
6,613 |
TOTAL NON-CURRENT LIABILITIES |
11,305 |
11,778 |
TOTAL LIABILITIES |
76,300 |
75,914 |
TOTAL SHAREHOLDERS' EQUITY |
815,435 |
787,372 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY |
891,735 |
863,286 |
INMODE LTD. | ||
簡明的合併資產負債表 | ||
(以千美元計,每股數據除外) | ||
(未經審計) | ||
3月31日 2024 |
十二月三十一日 2023 | |
資產 | ||
流動資產: | ||
現金和現金等價物 |
120,930 |
144,411 |
有價證券 |
390,782 |
373,647 |
短期銀行存款 |
258,829 |
223,547 |
扣除信貸損失備抵後的應收賬款 |
33,102 |
42,362 |
預付費用和其他應收賬款 |
18,939 |
16,268 |
庫存 |
51,602 |
45,095 |
流動資產總額 |
874,184 |
845,330 |
非流動資產: | ||
扣除信貸損失備抵後的應收賬款 |
3,435 |
3,670 |
遞延所得稅資產 |
1,494 |
1,506 |
經營租賃使用權資產 |
9,593 |
9,698 |
財產和設備,淨額 |
2,329 |
2,382 |
其他投資 |
700 |
700 |
非流動資產總額 |
17,551 |
17,956 |
總資產 |
891,735 |
863,286 |
負債和股東權益 | ||
流動負債: | ||
應付賬款 |
13,223 |
13,966 |
合同負債 |
20,516 |
10,923 |
其他負債 |
31,256 |
39,247 |
流動負債總額 |
64,995 |
64,136 |
非流動負債: | ||
合同負債 |
3,435 |
3,766 |
其他負債 |
1,657 |
1,399 |
經營租賃負債 |
6,213 |
6,613 |
非流動負債總額 |
11,305 |
11,778 |
負債總額 |
76,300 |
75,914 |
股東權益總額 |
815,435 |
787,372 |
負債總額和股東權益 |
891,735 |
863,286 |
INMODE LTD. | |||
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
(U.S. dollars in thousands, except for per share data) | |||
(Unaudited) | |||
Three months ended | |||
2024 |
2023 | ||
CASH FLOWS FROM OPERATING ACTIVITIES: | |||
Net income |
23,696 |
40,505 | |
Adjustments required to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization |
165 |
188 | |
Share-based compensation expenses |
3,983 |
4,209 | |
Change in allowance for credit losses of trade receivable |
187 |
(22) | |
Loss on marketable securities, net |
29 |
- | |
Finance income, net |
(4,757) |
(1,512) | |
Deferred income taxes |
(37) |
19 | |
Changes in operating assets and liabilities: | |||
Decrease in accounts receivable |
9,308 |
2,241 | |
Increase in other receivables |
(2,669) |
(229) | |
Increase in inventories |
(6,507) |
(914) | |
Decrease in accounts payable |
(743) |
(4,255) | |
Decrease in other liabilities |
(7,803) |
(23,043) | |
Increase in contract liabilities (current and non-current) |
9,262 |
3,926 | |
Net cash provided by operating activities |
24,114 |
21,113 | |
CASH FLOWS FROM INVESTING ACTIVITIES: | |||
Investment in short-term deposits |
(31,297) |
(3,000) | |
Proceeds from short-term deposits |
- |
3,000 | |
Purchase of fixed assets |
(112) |
(341) | |
Purchase of marketable securities |
(121,564) |
(77,929) | |
Proceeds from sale of marketable securities |
13,465 |
- | |
Proceeds from maturity of marketable securities |
92,118 |
50,714 | |
Net cash used in investing activities |
(47,390) |
(27,556) | |
CASH FLOWS FROM FINANCING ACTIVITIES: | |||
Exercise of options |
234 |
1,673 | |
Net cash provided by financing activities |
234 |
1,673 | |
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH |
(439) |
191 | |
NET DECREASE IN CASH AND CASH EQUIVALENTS |
(23,481) |
(4,579) | |
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD |
144,411 |
97,540 | |
CASH AND CASH EQUIVALENTS AT END OF PERIOD |
120,930 |
92,961 |
INMODE LTD. | |||
簡明的合併現金流量表 | |||
(以千美元計,每股數據除外) | |||
(未經審計) | |||
三個月已結束 | |||
2024 |
2023 | ||
來自經營活動的現金流: | |||
淨收入 |
23,696 |
40,505 | |
將淨收入與經營活動提供的淨現金進行對賬所需的調整: | |||
折舊和攤銷 |
165 |
188 | |
基於股份的薪酬支出 |
3,983 |
4,209 | |
應收貿易應收賬款信貸損失備抵額的變化 |
187 |
(22) | |
有價證券虧損,淨額 |
29 |
- | |
財務收入,淨額 |
(4,757) |
(1,512) | |
遞延所得稅 |
(37) |
19 | |
運營資產和負債的變化: | |||
應收賬款減少 |
9,308 |
2,241 | |
其他應收賬款增加 |
(2,669) |
(229) | |
庫存增加 |
(6,507) |
(914) | |
應付賬款減少 |
(743) |
(4,255) | |
其他負債減少 |
(7,803) |
(23,043) | |
合同負債增加(流動和非流動) |
9,262 |
3,926 | |
經營活動提供的淨現金 |
24,114 |
21,113 | |
來自投資活動的現金流: | |||
投資短期存款 |
(31,297) |
(3,000) | |
短期存款的收益 |
- |
3,000 | |
購買固定資產 |
(112) |
(341) | |
購買有價證券 |
(121,564) |
(77,929) | |
出售有價證券的收益 |
13,465 |
- | |
有價證券到期所得的收益 |
92,118 |
50,714 | |
用於投資活動的淨現金 |
(47,390) |
(27,556) | |
來自融資活動的現金流量: | |||
行使期權 |
234 |
1,673 | |
融資活動提供的淨現金 |
234 |
1,673 | |
匯率變動對現金和現金的影響 |
(439) |
191 | |
現金和現金等價物的淨減少 |
(23,481) |
(4,579) | |
期初的現金和現金等價物 |
144,411 |
97,540 | |
期末的現金和現金等價物 |
120,930 |
92,961 |
Revision of prior period financial information
上期財務信息的修訂
The Company revised certain items within the investing activities with no impact on the net cash used in investing activities. The items impacted were "Investment in short-term deposits" and "Proceeds from short-term deposits" which were decreased by $3,000 and "Purchase of marketable securities" and "Proceeds from maturity of marketable securities" which were decreased by $40,423.
公司修改了投資活動中的某些項目,但對投資活動中使用的淨現金沒有影響。受影響的項目是 “短期存款投資” 和 “短期存款收益”,減少了3,000美元,“購買有價證券” 和 “有價證券到期收益” 減少了40,423美元。
These changes have no impact on our previously reported consolidated total cash flows from operating activities, financing activities and investing activities in the periods stated above as well as net income and net change in cash and cash equivalents.
這些變化對我們先前報告的上述期間來自經營活動、融資活動和投資活動的合併現金流總額以及淨收入和現金及現金等價物的淨變動沒有影響。
The Company evaluated the materiality of the adjustments, individually and in the aggregate, considering both qualitative and quantitative factors, and concluded that it was immaterial to the Company's prior periods' consolidated financial information. Since the revision was not material to any prior interim period or annual consolidated financial statements, no amendments to previously filed interim or annual periodic financial information was required. Consequently, the Company has revised the historical consolidated financial information presented herein for the impact of the above.
公司考慮定性和定量因素,對調整的重要性進行了單獨和總體評估,得出的結論是,這對公司前幾期的合併財務信息無關緊要。由於修訂對以前的任何中期或年度合併財務報表都不重要,因此無需修改先前提交的中期或年度定期財務信息。因此,鑑於上述影響,公司修改了此處列出的歷史合併財務信息。
INMODE LTD. | |||||
CONDENSED CONSOLIDATED FINANCIAL HIGHLIGHTS | |||||
(U.S. dollars in thousands, except for per share data) | |||||
(Unaudited) | |||||
Three months ended | |||||
2024 |
2023 | ||||
Revenues by Category: | |||||
Capital Equipment revenues - United States |
30,859 |
38 % |
49,751 |
47 % | |
Capital Equipment revenues - International |
26,923 |
34 % |
36,373 |
34 % | |
Total Capital Equipment revenues |
57,782 |
72 % |
86,124 |
81 % | |
Consumables and service revenues |
22,502 |
28 % |
19,950 |
19 % | |
Total Revenue |
80,284 |
100 % |
106,074 |
100 % |
INMODE LTD. | |||||
簡明的合併財務摘要 | |||||
(以千美元計,每股數據除外) | |||||
(未經審計) | |||||
三個月已結束 | |||||
2024 |
2023 | ||||
按類別劃分的收入: | |||||
資本設備收入-美國 |
30,859 |
38% |
49,751 |
47% | |
資本設備收入-國際 |
26,923 |
34% |
36,373 |
34% | |
資本設備總收入 |
57,782 |
72% |
86,124 |
81% | |
消耗品和服務收入 |
22,502 |
28% |
19,950 |
19% | |
總收入 |
80,284 |
100% |
106,074 |
100% |
Three months ended | ||||||
2024 |
2023 | |||||
% |
% | |||||
United States |
|
Total |
United States |
International |
Total | |
Revenues by Technology: | ||||||
Minimally Invasive |
87 |
80 |
84 |
90 |
75 |
83 |
Hands-Free |
8 |
3 |
5 |
8 |
6 |
8 |
Non-Invasive |
5 |
17 |
11 |
2 |
19 |
9 |
100 |
100 |
100 |
100 |
100 |
100 |
三個月已結束 | ||||||
2024 |
2023 | |||||
% |
% | |||||
美國 |
|
總計 |
美國 |
國際 |
總計 | |
按技術劃分的收入: | ||||||
微創 |
87 |
80 |
84 |
90 |
75 |
83 |
免提 |
8 |
3 |
5 |
8 |
6 |
8 |
非侵入性 |
5 |
17 |
11 |
2 |
19 |
9 |
100 |
100 |
100 |
100 |
100 |
100 |
INMODE LTD. | |||||||
RECONCILIATION OF GAAP CONDENSED CONSOLIDATED STATEMENTS OF | |||||||
INCOME TO NON-GAAP CONDENSED CONSOLIDATED STATEMENTS OF INCOME | |||||||
(U.S. dollars in thousands, except for per share data) | |||||||
(Unaudited) | |||||||
Three months ended March 31, 2024 | Three months ended March 31, 2023 | ||||||
GAAP | Share Based | Non-GAAP | GAAP | Share Based | Non-GAAP | ||
REVENUES |
80,284 |
- |
80,284 |
106,074 |
- |
106,074 | |
COST OF REVENUES |
16,365 |
(409) |
15,956 |
18,254 |
(354) |
17,900 | |
GROSS PROFIT |
63,919 |
409 |
64,328 |
87,820 |
354 |
88,174 | |
OPERATING EXPENSES: | |||||||
Research and development |
3,518 |
(428) |
3,090 |
3,102 |
(501) |
2,601 | |
Sales and marketing |
39,795 |
(2,883) |
36,912 |
41,713 |
(3,038) |
38,675 | |
General and administrative |
2,514 |
(263) |
2,251 |
2,008 |
(316) |
1,692 | |
TOTAL OPERATING | 45,827 | (3,574) | 42,253 | 46,823 | (3,855) | 42,968 | |
OPERATIONS INCOME |
18,092 |
3,983 |
22,075 |
40,997 |
4,209 |
45,206 | |
Finance income, net |
7,984 |
- |
7,984 |
3,289 |
- |
3,289 | |
INCOME BEFORE INCOME TAXES |
26,076 |
3,983 |
30,059 |
44,286 |
4,209 |
48,495 | |
INCOME TAXES |
2,380 |
- |
2,380 |
3,781 |
- |
3,781 | |
NET INCOME |
23,696 |
3,983 |
27,679 |
40,505 |
4,209 |
44,714 | |
EARNINGS PER SHARE: | |||||||
Basic |
0.28 |
0.33 |
0.49 |
0.54 | |||
Diluted |
0.28 |
0.32 |
0.47 |
0.52 | |||
WEIGHTED AVERAGE NUMBER OF | |||||||
Basic |
84,523 |
84,523 |
83,154 |
83,154 | |||
Diluted |
85,965 |
86,563 |
85,387 |
85,878 |
INMODE LTD. | |||||||
GAAP簡明合併報表的對賬 | |||||||
非公認會計准則簡明合併損益表的收益 | |||||||
(以千美元計,每股數據除外) | |||||||
(未經審計) | |||||||
截至2024年3月31日的三個月 | 截至2023年3月31日的三個月 | ||||||
GAAP | 基於共享 | 非公認會計准則 | GAAP | 基於共享 | 非公認會計准則 | ||
收入 |
80,284 |
- |
80,284 |
106,074 |
- |
106,074 | |
收入成本 |
16,365 |
(409) |
15,956 |
18,254 |
(354) |
17,900 | |
毛利 |
63,919 |
409 |
64,328 |
87,820 |
354 |
88,174 | |
運營費用: | |||||||
研究和開發 |
3,518 |
(428) |
3,090 |
3,102 |
(501) |
2,601 | |
銷售和營銷 |
39,795 |
(2,883) |
36,912 |
41,713 |
(3,038) |
38,675 | |
一般和行政 |
2,514 |
(263) |
2,251 |
2,008 |
(316) |
1,692 | |
總運營量 | 45,827 | (3,574) | 42,253 | 46,823 | (3,855) | 42,968 | |
運營收入 |
18,092 |
3,983 |
22,075 |
40,997 |
4,209 |
45,206 | |
財務收入,淨額 |
7,984 |
- |
7,984 |
3,289 |
- |
3,289 | |
所得稅前收入 |
26,076 |
3,983 |
30,059 |
44,286 |
4,209 |
48,495 | |
所得稅 |
2,380 |
- |
2,380 |
3,781 |
- |
3,781 | |
淨收入 |
23,696 |
3,983 |
27,679 |
40,505 |
4,209 |
44,714 | |
每股收益: | |||||||
基本 |
0.28 |
0.33 |
0.49 |
0.54 | |||
稀釋 |
0.28 |
0.32 |
0.47 |
0.52 | |||
的加權平均數 | |||||||
基本 |
84,523 |
84,523 |
83,154 |
83,154 | |||
稀釋 |
85,965 |
86,563 |
85,387 |
85,878 |
SOURCE InMode LTD
來源 InMode LTD
譯文內容由第三人軟體翻譯。