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
公司宣佈回購多達837萬股股票;並且
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.
以色列約克內亞姆,2024年5月2日 /美通社/ -- InMode有限公司。(納斯達克:INMD) (inmode)作爲一家領先的全球醫療技術提供商,今天宣佈了截至2024年3月31日的第一季度合併財務業績。
First Quarter 2024 Highlights:
2024年第一季度要點:
- 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.
- GAAP季度營收爲8030萬美元,較2023年第一季度下降24%。 InMode專有的手術技術平台從微創和皮下剝蝕治療中獲得了84%的季度營收,而11%的營收來自InMode的傳統激光和非侵入性射頻平台,5%的營收來自InMode的無人操作平台。不考慮參與預購未上市新平台的營收,預測營收爲9600萬美元。
- GAAP淨利潤爲2370萬美元,較2023年第一季度的4050萬美元下降; * non-GAAP淨利潤爲2770萬美元,較2023年第一季度的4470萬美元下降。 ** 預測的非GAAP淨利潤爲3880萬美元。
- GAAP股票攤薄收益爲0.28美元,較2023年第一季度的0.47美元下降; * non-GAAP攤薄股票收益爲0.32美元,較2023年第一季度的0.52美元下降。 **預測非GAAP攤薄股票收益爲0.45美元。
- 耗材和服務的季度收益創下了歷史新高,爲2250萬美元,較2023年第一季度增長13%。
- 截至2024年3月31日,現金地位爲77050萬美元,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 |
美國通用會計準則結果 (除每股數據外,單位爲千美元) | ||
2024年第一季度 ("Q1 2024") |
2023年第一季度 | |
收入 |
80284 |
106074 |
毛利率 |
80 % |
83% |
淨利潤 |
23696 |
40505 |
每股攤薄收益 |
$0.28 |
$0.47 |
*非GAAP結果 (除每股數據外,單位爲千美元) | ||
2024年第一季度 ("Q1 2024") |
2023年第一季度 | |
毛利率 |
80 % |
83% |
淨利潤 |
27679 |
$44,714 |
每股攤薄收益 |
0.32美元 |
0.52美元 |
**預測的非GAAP結果** (除每股數據外,單位爲千美元) | ||
2024年第一季度 ("Q1 2024") |
2023年第一季度 | |
營業收入 |
96007 |
106074 |
毛利率 |
82% |
83% |
淨利潤 |
38776 |
$44,714 |
每股攤薄收益 |
$0.45 |
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. |
*請查看下面關於非普通會計準則財務數據的"使用"重要信息。 | |
** 企業內非普通會計準則結果包括尚未推出的新平台預購併排除了基礎股權補償。 企業內非普通會計準則結果包括尚未推出的新平台預購併排除了基礎股權補償。 |
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.
摩西·米茲拉希首席執行官表示:"今年的首次預購在美國針對我們的兩個新的先進平台:IgniteRF和Optimus Max展開,我們相信這些平台將在未來成爲公司成長的重要催化劑。雖然我們無法快速建立製造線併爲這些新平台建立庫存以在第一季度開始交付,但我們正在努力盡快履行這些訂單。我們預計將在今年下半年交付未完成訂單並建立足夠的庫存量。"
"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.
董事會批准了另一項回購計劃,授權回購多達837萬股。 這是4年內的第三個該類計劃,凸顯了我們對公司未來成功的信心和增強股東價值的承諾。
"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.
Mizrahy總結道:“我歡迎Dr.Michael Anghel自2024年7月25日開始擔任我們的新董事長。自2019年以來,Anghel博士一直是董事會成員,我們期待從他的財務和戰略專業知識中受益。”
First Quarter 2024 Financial Results
2024年一季度財務報告
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年第一季度的總收入達到了$80.3 million,較2023年第一季度的$106.1 million下降了24%。 非通用會計準則的營業收入達到了9600萬美元。
"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Yair Malca表示:“在第一季度,我們開始接受一些新平台的訂單,儘管在預訂單交貨之前我們無法將這些銷售額認定爲收入。” “我們期望在未來幾個季度中報告這些訂單的收入,這是在新平台交付後的。” “我們對第一季度北美以外的銷售感到鼓舞,特別是歐洲的銷售額達到了創紀錄的數字。”
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年第一季度的美國通用會計準則和非通用會計準則毛利率爲80%,而2023年第一季度的毛利率爲83%。 2019年第一季度的非通常會計準則毛利率爲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年第一季度的美國通用會計準則營業利潤率爲23%,而2019年第一季度的營業利潤率爲39%。 非通用會計準則2024年第一季度的營業利潤率爲27%,而2019年第一季度的營業利潤率爲43%。 該下降主要歸因於北美系統銷售的下降。
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在2024年第一季度報告了2370萬美元的美國通用會計準則淨收入,每股攤薄收益爲0.28美元,而在2019年第一季度爲4050萬美元,每股攤薄收益爲0.47美元。 在非通用會計準則的基礎上,InMode在2024年第一季度報告了2770萬美元的淨收入,每股攤薄收益爲0.32美元,而在2019年第一季度爲4470萬美元,每股攤薄收益爲0.52美元。 在2024年第一季度,非常規準則的淨收益爲3880萬美元,每股攤薄收益爲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。 根據目前的估算,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4805億至4905億美元,而以前的指導爲4950億至5050億美元
- 非普通會計準則的毛利率爲82%至84%,而以前的指導爲83%至85%
- 非通用會計準則的營業收入在1.69億至1.74億美元之間,而原先的指導爲2.17億至2.22億美元
- 非普通會計準則的攤薄每股收益爲2.01至2.05美元,而原先的指導爲2.53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. |
這個展望不是未來業績的保證,股東不應依賴此類前瞻性聲明。有關更多信息,請參見“前瞻性聲明”。 | |
*請參閱下文的“Non-GAAP財務指標使用”以獲取有關非GAAP財務指標的重要信息。本報告包含U.S.GAAP與非GAAP收入表的調和表。非GAAP結果不包括股份補償調整。 | |
** 預形式的非GAAP結果包括尚未推出的新平台預訂,不包括股份報酬。 |
The Current Situation in Israel
以色列目前的情況
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.
關於以色列目前的局勢,管理層希望向投資者保證,公司優先考慮員工的安全和福利,所有團隊都安全。然而,由於以色列及周邊地區衝突的持續和不可預測性,無法及時獲取所需的物資和材料可能會對我們及時商業化和製造產品候選者和產品的能力產生不利影響。這可能會對我們的運營造成若干延遲和/或問題,進而對我們的產品候選者商業化和財務狀況產生重大不利影響。
Use of Non-GAAP Financial Measures
使用非 GAAP 財務指標
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InMode根據美國通用會計準則(GAAP)提供的營運業績外,本報告還包含某些非GAAP財務指標,包括非GAAP淨收入、非GAAP每股攤薄收益、非GAAP營業利潤率以及預形式的Non-GAAP營業收入、預形式的非GAAP淨收入、預形式的非GAAP每股攤薄盈利和預形式的非GAAP營業利潤率。由於這些財務指標用於InMode內部對財務和經營績效的分析,管理層認爲它們爲投資者提供了更透明的InMode經濟績效視角。管理層還認爲,當與InMode的GAAP營運業績相結合分析時,這些指標的提供使投資者能夠更有效地評估和比較InMode與同行的表現,儘管InMode的提供的非GAAP指標的報告可能不嚴格可比於其他公司的同名指標。這些非GAAP財務指標的表格調和均作爲本報告的補充資料提供。
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.
Moshe Mizrahy先生(首席執行官)、Michael Kreindel博士(共同創始人兼首席技術官)、Yair Malca 先生(首席財務官)、Shakil Lakhani先生(北美總裁)和Spero Theodorou博士(首席醫療官)將於2024年5月2日(星期三)美國東部時間上午8:30舉行電話會議,討論2024年第一季度財務業績。
The Company encourages participants to pre-register for the conference call using the following link:
公司鼓勵參與者通過以下鏈接進行電話會議的預註冊:
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.
參與者在註冊後將收到唯一的撥入號碼,可以立即訪問。參與者可以隨時進行預註冊,包括在開始時間之前和之後。
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.
對於選擇不預先註冊的呼叫者,請撥打以下會議電話號碼之一。請在會議開始前10分鐘撥打您的呼叫。如果您無法使用免費電話號碼連接,請嘗試撥打國際撥入號碼。
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
美國免費長途電話號碼: 1-833-316-0562
以色列免費長途電話號碼: 1-80-921-2373
國際撥入號碼: 1-412-317-5736
網絡直播鏈接: https://event.choruscall.com/mediaframe/webcast.html?webcastid=Q0VCLo65
時間:
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:
電話會議也將從InMode網站的以下鏈接實時播出https://inmodemd.com/investors/events-presentations/.會議通話的回放將從2024年5月2日美國東部時間下午12點到2024年5月16日美國東部時間晚上11:59分提供。要訪問回放,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
美國免費回放撥入電話:1-877-344-7529
加拿大免費回放撥入電話:855-669-9658
投資者/國際回放撥入電話:1-412-317-0088
回放 Pin 號碼:9531570
To access the replay using an international dial-in number, please select the link below:
要使用國際撥號碼訪問回放,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/.
會議通話的回放還可在 InMode 的網站上提供90天,網址是: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 是一家領先的全球醫療技術提供商。InMode 開發、製造和銷售利用新穎的射頻("RF")技術的設備。InMode 力求推動新興的外科手術程序以及改進現有治療。InMode 利用其被醫療界接受的微創射頻技術,在整形外科、婦科、皮膚科、耳鼻喉科和眼科醫療領域提供了一系列產品。欲了解更多關於 InMode 的信息,請訪問其網站:www.inmodemd.com.
Forward-Looking Statements
前瞻性聲明
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根據聯邦證券法的前瞻性聲明。這些聲明通常與未來事件或 InMode 的未來財務或運營績效有關,包括上述2024年營業收入預測。實際結果可能與這些前瞻性陳述中所表達或預測的有所不同。在某些情況下,您可以通過這些陳述來識別其內容,因爲其包含諸如“預計”、“相信”、“估計”、“期望”、“打算”、“可能”、“計劃”、“預測”、“項目”、“將”及類似關鍵詞,其涉及到我們的預期、戰略計劃或意圖。前瞻性陳述是基於管理層當前的預期和假設,並且受到不易預測的內在不確定性、風險和環境變化的影響。因此,實際結果可能與這些前瞻性陳述所示有所不同。在考慮這些前瞻性陳述時,您應注意包括 InMode 的 2024 年 2 月 13 日向證券交易委員會提交的年度報告中包含的風險因素和其他謹慎聲明。InMode 不承諾也沒有意圖更新這些前瞻性陳述以反映此新聞稿之後發生的事件或環境。請注意,不應過於依賴這些前瞻性陳述,其僅涉及發佈本新聞稿之日而言。如果您對任何變化感到不確定,應在現有的證券申報文件(包括 InMode 在美國證券交易委員會上提交的報告)中代表 InMode 獲取最新信息。
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 致富金融(臨時代碼) 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有限責任公司 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。 | ||
簡明合併利潤表 | ||
(除每股數據外,單位爲千美元) | ||
(未經審計) | ||
三個月的結束時間 | ||
2024 |
2023 | |
營業費用 |
80,284 |
106,074 |
營業費用 |
16,365 |
18,254 |
毛利潤 |
63,919 |
87,820 |
營業費用: | ||
研發 |
3,518 |
3,102 |
銷售及營銷費用 |
39,795 |
41,713 |
普通和管理 |
2,514 |
2,008 |
總營業費用 |
45,827 |
46,823 |
營業收入 |
18,092 |
40,997 |
財務收益,淨額 |
7,984 |
3,289 |
稅前收入 |
26,076 |
44,286 |
所得稅 |
2,380 |
3,781 |
淨利潤 |
23,696 |
40,505 |
每股收益: | ||
基本 |
0.28 |
0.49 |
攤薄 |
0.28 |
0.47 |
加權平均股本 | ||
基本 |
84,523 |
83,154 |
攤薄 |
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。 | ||
簡明合併資產負債表 | ||
(除每股數據外,單位爲千美元) | ||
(未經審計) | ||
3月31日 2024 |
12月31日 2023 | |
資產 | ||
流動資產: | ||
現金及現金等價物 |
120,930 |
144,411 |
有價證券 |
390,782 |
373,647 |
開空期銀行存款 |
258,829 |
223,547 |
應收賬款,減去壞賬損失準備金 |
33,102 |
42,362 |
預付費用及其他應收款 |
18,939 |
16,268 |
存貨 |
51,602 |
45,095 |
總流動資產 |
874,184 |
845,330 |
非流動資產: | ||
應收賬款,減去壞賬損失準備金 |
3,435 |
3,670 |
遞延所得稅資產 |
1,494 |
1,506 |
經營租賃權利資產 |
9,593 |
9,698 |
資產和設備,淨值 |
2,329 |
2,382 |
其他投資 |
700 |
700 |
總非流動資產 |
17,551 |
17,956 |
資產總計 |
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 |
流動負債合計 |
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 |
總非流動負債 |
11,305 |
11,778 |
負債合計 |
76,300 |
75,914 |
股東的權益總額 |
815,435 |
787,372 |
資產負債合計 |
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。 | |||
壓縮的合併現金流量表 | |||
(除每股數據外,單位爲千美元) | |||
(未經審計) | |||
三個月的結束時間 | |||
2024 |
2023 | ||
經營活動產生的現金流量: | |||
淨收入 |
23,696 |
40,505 | |
調整淨利潤以求得經營活動產生的現金流量: | |||
折舊和攤銷 |
165 |
188 | |
股份補償費用 |
3,983 |
4,209 | |
應收貿易損失準備金變動 |
187 |
(22) | |
可交易證券淨損失 |
29 |
- | |
財務收益,淨額 |
(4,757) |
(1,512) | |
延遲所得稅 |
(37) |
19 | |
經營性資產和負債變動: | |||
應收賬款減少 |
9,308 |
2,241 | |
其他應收款的增加 |
(2,669) |
(229) | |
存貨的增加 |
(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(流動性和非流動性) |
9,262 |
3,926 | |
經營活動產生的現金流量淨額 |
24,114 |
21,113 | |
投資活動產生的現金流量: | |||
投資短期存款 |
(31,297) |
(3,000) | |
開空期存款收益 |
- |
3,000 | |
購買固定資產 |
(112) |
(341) | |
購買有市場流通的證券 |
(121,564) |
(77,929) | |
出售有市場流通的證券收益 |
13,465 |
- | |
到期的有價證券收益 |
92,118 |
50,714 | |
投資活動產生的淨現金流出 |
(47,390) |
(27,556) | |
籌資活動產生的現金流量: | |||
期權行權 |
234 |
1,673 | |
籌資活動產生的現金淨額 |
234 |
1,673 | |
匯率變動對現金和現金等價物的影響 |
(439) |
191 | |
現金及現金等價物淨減少額 |
(23,481) |
(4,579) | |
期初現金及現金等價物 |
144,411 |
97,540 | |
期末現金及現金等價物 |
120,930 |
92,961 |
Revision of prior period financial information
修訂先前時期財務信息
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.
公司對投資活動中的某些項目進行了修訂,對投資活動所使用的淨現金流量沒有影響。受到影響的項目爲"短期存款投資"和"短期存款收益",減少了3000美元,以及"可交易證券的購買"和"可交易證券到期收益",減少了40,423美元。這些變動對我們之前報告的彙總的經營活動、融資活動和投資活動的總現金流以及淨利潤和現金及現金等價物的淨變化沒有影響。公司評估了調整在定量和定性因素上的重要性,並得出結論稱這對公司之前的財務信息沒有實質性的影響。由於修訂對任何前期中期或年度彙總財務報表信息的重要性不大,因此無需對之前提交的中期或年度財務信息進行修改。因此,公司已經針對上述影響修訂了歷史性的彙總財務信息。
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.
這些變更對於我們之前報告的上述時期的合併現金流量總額、淨利潤和現金及現金等價物的淨變化以及經營活動、融資活動和投資活動沒有影響。
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.
公司考慮到定性和定量因素,評估了調整的重要性,結論是對公司之前的合併財務信息沒有實質性的影響。由於修訂對任何前期中期或年度彙總財務報表信息的重要性不大,因此無需對之前提交的中期或年度財務信息進行修改。因此,公司已經針對上述影響修訂了歷史性的合併財務信息。
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。 | |||||
簡明合併財務摘要 | |||||
(除每股數據外,單位爲千美元) | |||||
(未經審計) | |||||
三個月的結束時間 | |||||
2024 |
2023 | ||||
按類別劃分的收入: | |||||
資本設備收入-美國 |
30,859 |
38 % |
49,751 |
不知道他們每年爲成年子女提供了多少錢。 | |
資本設備收入-國際 |
26,923 |
34% |
36,373 |
34% | |
總資本設備收入 |
57,782 |
72 % |
86,124 |
81% | |
耗材與服務收入 |
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 |
三個月的結束時間 | ||||||
2024 |
2023 | |||||
% |
% | |||||
美國 |
|
總費用 |
美國 |
國際 |
總費用 | |
按技術分的收益: | ||||||
微創 |
87 |
80 |
84 |
90 |
75 |
83 |
免提 |
8 |
3 |
5 |
8 |
6 |
8 |
非侵入式 |
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簡明合併利潤表的調和 | |||||||
除非特別註明,否則所有的無形資產均未包括在非依據美國通用會計準則制定的非經營性、非依據美國通用會計準則制定的利潤損失合計中";否則將納入其他綜合收益。 | |||||||
(除每股數據外,單位爲千美元) | |||||||
(未經審計) | |||||||
2024年3月31日止三個月 | 2023年3月31日結束的三個月 | ||||||
通用會計原則(GAAP) | 股份獎勵-年度內已獲得價值 | 非通用會計原則 | 通用會計原則(GAAP) | 股份獎勵-年度內已獲得價值 | 非通用會計原則 | ||
營業費用 |
80,284 |
- |
80,284 |
106,074 |
- |
106,074 | |
營業費用 |
16,365 |
(409) |
15,956 |
18,254 |
(354) |
17,900 | |
毛利潤 |
63,919 |
409 |
64,328 |
87,820 |
354 |
88,174 | |
營業費用: | |||||||
研發 |
3,518 |
(428)分紅派息 |
3,090 |
3,102 |
(501) |
2,601 | |
銷售及營銷費用 |
39,795 |
(2,883) |
36,912 |
41,713 |
(3,038) |
38,675 | |
普通和管理 |
2,514 |
(263) |
信託投資管理費用減少 |
2,008 |
(316) |
1,692 | |
總營業額 | 45,827 | (3,574) | 42,253 | 46,823 | (3,855) | 42,968 | |
營業收入 |
18,092 |
3,983 |
22,075 |
40,997 |
4,209 |
45,206 | |
財務收益,淨額 |
7,984 |
- |
7,984 |
3,289 |
- |
3,289 | |
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 | |
淨利潤 |
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 | |||
攤薄 |
0.28 |
0.32 |
0.47 |
0.52 | |||
用於計算每股收益的加權平均股份(以千爲單位) | |||||||
基本 |
84,523 |
84,523 |
83,154 |
83,154 | |||
攤薄 |
85,965 |
86,563 |
85,387 |
85,878 |
SOURCE InMode LTD
資料來源:InMode LTD