InMode Ltd. (INMD) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$0.33	$0.35	+6.1%	—	$95.6M	—
Q1 26	$0.3	$0.25	-16.7%	—	$82M	—
Q4 25	$0.16	$0.43	+168.8%	—	$103.9M	—
Q3 25	$0.35	$0.38	+8.6%	—	$93.2M	—
Q2 25	$0.41	$0.47	+14.6%	—	$95.6M	—
Q1 25	$0.35	$0.31	-11.4%	—	$77.9M	—
Q4 24	$0.5	$0.42	-16.0%	—	$97.9M	—
Q3 24	$0.61	$0.7	+14.8%	—	$130.2M	—
Q2 24	$0.38	$0.34	-10.5%	—	$86.4M	—
Q1 24	$0.41	$0.32	-22.0%	—	$80.3M	—
Q4 23	$0.67	$0.71	+6.0%	—	$126.8M	—
Q3 23	$0.63	$0.61	-3.2%	—	$123.1M	—
Q2 23	$0.66	$0.72	+9.1%	—	$136.1M	—
Q1 23	$0.48	$0.52	+8.3%	—	$106.1M	—
Q4 22	$0.69	$0.78	+13.0%	—	$133.6M	—
Q3 22	$0.59	$0.66	+11.9%	—	$121.2M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$1.45	—	—	$370.5M	—
FY24	—	$2.29	—	—	$394.8M	—
FY23	—	$2.37	—	—	$492M	—
FY22	—	$1.96	—	—	$454.3M	—

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$53.5M	$100.2M	$156.4M	$206.1M	$357.6M	$454.3M	$492M	$394.8M	$370.5M
YoY change	—	+87.4%	+56.1%	+31.8%	+73.5%	+27%	+8.32%	-19.8%	-6.16%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	53.5M	100.2M	156.4M	206.1M	357.6M	454.3M	492M	394.8M	370.5M
Cost of revenue	9.1M	15.1M	20.2M	30.8M	53.6M	73.5M	80.7M	77.8M	79.5M
Gross profit	44.4M	85.1M	136.1M	175.3M	304M	380.8M	411.3M	317.1M	291M
Gross margin	83.1%	85%	87.1%	85%	85%	83.8%	83.6%	80.3%	78.5%
Research & development	2.6M	4.2M	5.7M	9.5M	9.5M	12.4M	13.4M	13.1M	13.3M
Selling, general & administrative	32.9M	49.4M	70.8M	93M	127.8M	170.5M	202.3M	191.4M	192.3M
Operating expenses	35.5M	53.6M	76.5M	102.4M	136.5M	182.9M	215.7M	204.5M	205.6M
Operating income	8.9M	31.5M	59.6M	72.8M	167.5M	197.9M	195.7M	112.5M	85.4M
Operating margin	16.7%	31.4%	38.1%	35.3%	46.8%	43.6%	39.8%	28.5%	23%
Non-operating income, net	—	-8M	—	—	—	—	—	—	—
Pretax income	9.8M	23.6M	62M	76.1M	168M	201.5M	217.3M	143.5M	110.3M
Income tax	980K	1.3M	883K	1.1M	2.9M	39.9M	19.3M	-37.8M	16.5M
Net income	8.8M	22.4M	61.2M	75M	165.1M	161.5M	197.9M	181.3M	93.8M
Net margin	16.5%	22.3%	39.1%	36.4%	46.2%	35.6%	40.2%	45.9%	25.3%
EBITDA	9.2M	39.7M	59.9M	73.3M	168M	198.5M	196.3M	113.3M	86.1M
EPS	0.14	0.35	1.04	1.04	2.03	1.96	2.37	2.29	1.45
Diluted EPS	0.14	0.35	0.8	0.89	1.92	1.89	2.3	2.25	1.43

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	123.1M	126.8M	80.3M	86.4M	130.2M	97.9M	77.9M	95.6M	93.2M	103.9M	82M	95.6M
Cost of revenue	20.1M	20.3M	16.4M	17.1M	24.1M	20.2M	17M	19.2M	20.9M	22.6M	20.5M	24.1M
Gross profit	103M	106.5M	63.9M	69.3M	106.2M	77.6M	60.9M	76.5M	72.3M	81.3M	61.6M	71.5M
Gross margin	83.6%	84%	79.6%	80.2%	81.5%	79.3%	78.2%	80%	77.6%	78.3%	75%	74.8%
Research & development	3.3M	3.5M	3.5M	3.7M	3.3M	2.7M	2.9M	3.4M	3.5M	3.5M	3.5M	3.7M
Selling, general & administrative	53.3M	51.8M	42.3M	47.3M	54.7M	47.1M	42.4M	50.2M	47.9M	51.8M	48M	55.6M
Operating expenses	56.6M	55.3M	45.8M	51M	57.9M	49.8M	45.3M	53.6M	51.4M	55.3M	51.5M	59.3M
Operating income	46.4M	51.2M	18.1M	18.3M	48.3M	27.9M	15.6M	22.9M	20.9M	26M	10.1M	12.3M
Operating margin	37.7%	40.4%	22.5%	21.2%	37.1%	28.5%	20.1%	23.9%	22.4%	25%	12.3%	12.8%
Non-operating income, net	—	—	—	—	—	—	—	—	—	—	—	—
Pretax income	51.4M	60.2M	26.1M	27M	58.2M	32.2M	22.5M	30.9M	25.6M	31.3M	14.4M	19.7M
Income tax	4.8M	5M	2.4M	3.2M	7.2M	-50.6M	4.3M	4.2M	3.8M	4.3M	2.8M	2.6M
Net income	46.5M	55.2M	23.7M	23.8M	51M	82.8M	18.2M	26.7M	21.9M	27M	11.6M	17.1M
Net margin	37.8%	43.5%	29.5%	27.6%	39.2%	84.6%	23.4%	28%	23.5%	26%	14.1%	17.9%
EBITDA	46.5M	51.4M	18.3M	18.5M	48.4M	28.1M	15.8M	23.1M	21.1M	26.2M	10.2M	12.4M
EPS	0.56	0.66	0.28	0.28	0.66	1.15	0.26	0.42	0.35	0.43	0.18	0.29
Diluted EPS	0.54	0.64	0.28	0.28	0.65	1.14	0.26	0.42	0.34	0.42	0.18	0.29

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	—	—	1.1B	—	—	2.9B	1.9B	1.3B	—	817.4M
Enterprise value	—	—	953.3M	—	—	2.4B	1.1B	735.8M	—	343.3M
Shares outstanding	63.9M	63.9M	58.5M	72.1M	81.4M	82.5M	83.5M	79.3M	64.6M	64.6M

Valuation

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	—	18.7	—	—	18.2	9.39	7.31	—	11.8
P/S	—	—	7.33	—	—	6.48	3.78	3.35	—	2.19
P/B	—	—	6.37	—	—	5.31	2.36	1.88	—	1.34
EV/EBITDA	—	—	15.9	—	—	12.1	5.73	6.5	—	4.83
EV/Sales	—	—	6.1	—	—	5.29	2.29	1.86	—	0.92
Earnings yield	—	—	5.34%	—	—	5.49%	10.7%	13.7%	—	8.47%
FCF yield	—	—	5.37%	—	—	6.11%	9.48%	9.97%	—	5.8%
PEG	—	—	—	—	—	—	—	—	—	-0.38

Profitability

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	83.1%	85%	87.1%	85%	85%	83.8%	83.6%	80.3%	78.5%	74.8%
Operating margin	16.7%	31.4%	38.1%	35.3%	46.8%	43.6%	39.8%	28.5%	23%	12.8%
Net margin	16.5%	22.3%	39.1%	36.4%	46.2%	35.6%	40.2%	45.9%	25.3%	20.7%
ROE	45.3%	50.1%	34%	29.4%	39.7%	29.1%	25.1%	25.8%	13.7%	12.3%
ROA	22.4%	27.6%	28%	25.4%	34.5%	25.1%	22.9%	23.1%	12.2%	6.17%
ROIC	-144.2%	-179.3%	-458.6%	-1.9K%	3.7K%	1.3K%	325.3%	97.7%	53.4%	44.5%
Return on tangible assets	22.4%	27.6%	28%	25.4%	34.5%	25.1%	22.9%	23.1%	12.2%	10.8%

Financial health

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	2.76	2.64	6.56	8.27	9.07	7.67	13.2	10.2	9.88	8.18
Quick ratio	2.39	2.41	6.27	7.84	8.66	7.19	12.5	9.38	8.83	7.28
Debt / equity	—	0	0	0	0.01	0.01	0.01	0.01	0.01	0.01
Debt / assets	—	0	0	0	0.01	0.01	0.01	0.01	0.01	0.01
Net debt / EBITDA	—	-1.55	-3.21	-3.54	-2.45	-2.73	-3.73	-5.2	-6.36	-7.11
Effective tax rate	10%	5.33%	1.42%	1.45%	1.74%	19.8%	8.91%	0%	15%	14.8%

Per share

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	0.84	1.57	2.67	2.86	4.39	5.51	5.89	4.98	5.73	6.02
EPS (basic)	0.14	0.35	1.04	1.04	2.03	1.96	2.37	2.29	1.45	1.45
EPS (diluted)	0.14	0.35	0.8	0.89	1.92	1.89	2.3	2.25	1.43	1.21
Book value per share	0.3	0.7	3.08	3.54	5.11	6.72	9.43	8.87	10.6	10.7
FCF per share	0.23	0.57	1.05	1.09	2.14	2.18	2.11	1.66	1.3	1.39
Cash per share	0.39	0.96	3.31	3.61	5.11	6.64	8.88	7.52	8.59	8.51
Capex per share	0	0.01	0.01	0.01	0.01	0.02	0.01	0.01	—	—

Capital allocation

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	0.35%	0.38%	0.44%	0.22%	0.26%	0.35%	0.14%	0.17%	—	—
Capex / operating cash flow	1.31%	1.33%	0.96%	0.59%	0.54%	0.87%	0.4%	0.51%	—	—
Payout ratio	—	—	—	—	—	—	—	—	—	0%

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$123.1M	$126.8M	$80.3M	$86.4M	$130.2M	$97.9M	$77.9M	$95.6M	$93.2M	$103.9M	$82M	$95.6M
YoY change	+1.55%	-5.08%	-24.3%	-36.5%	+5.78%	-22.8%	-3%	+10.6%	-28.5%	+6.13%	+5.32%	-0.01%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	25M	61.3M	193.4M	260.5M	415.9M	547.4M	741.6M	596.5M	555.3M
Receivables	5.8M	7M	6.6M	10.5M	20.2M	27M	42.4M	36.3M	43.5M
Inventory	5M	7M	9.4M	15M	21M	39.9M	45.1M	59.5M	74M
Total current assets	37.1M	77.8M	213.2M	289.6M	470.1M	629.4M	845.3M	714.5M	698.6M
Property, plant & equipment	346K	544K	2.3M	2.1M	5.7M	7.4M	12.1M	11.1M	10.9M
Goodwill & intangibles	—	—	—	—	—	—	—	—	—
Total assets	39.4M	81.1M	218.4M	295.8M	478.5M	644.4M	863.3M	785.7M	766.4M
Accounts payable	3.1M	4.5M	3.7M	6.4M	8.8M	16.2M	14M	13.8M	17.9M
Short-term debt	—	—	—	880K	1.2M	1.5M	2.4M	2.5M	3.2M
Total current liabilities	13.5M	29.4M	32.5M	35M	51.9M	82M	64.1M	69.9M	70.7M
Long-term debt	—	0	744K	358K	3.3M	3.5M	6.6M	5.3M	5M
Total liabilities	20M	36.4M	38.6M	40.3M	62.7M	89.8M	75.9M	81.9M	83.2M
Shareholders' equity	19.5M	44.7M	179.8M	255.5M	415.8M	554.6M	787.4M	703.8M	683.2M
Total debt	—	0	744K	1.2M	4.5M	5M	9M	7.8M	8.2M
Net debt	—	-24.7M	-44M	-67.7M	-63.6M	-92.6M	-135.4M	-147.5M	-294.3M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	675.8M	741.6M	770.5M	729.2M	684.9M	596.5M	512.9M	510.7M	532.3M	555.3M	537.2M	501.1M
Receivables	42.7M	42.4M	33.1M	38.2M	40.8M	36.3M	32.4M	35.7M	38.1M	43.5M	40.7M	44.6M
Inventory	40M	45.1M	51.6M	52.6M	58.3M	59.5M	63.8M	68.1M	71.4M	74M	71.4M	71.7M
Total current assets	777.9M	845.3M	874.2M	843M	808.4M	714.5M	634.6M	638.8M	666.3M	698.6M	680.8M	650M
Property, plant & equipment	8.8M	12.1M	11.9M	11.6M	11M	11.1M	11.4M	11.6M	11.2M	10.9M	11.2M	11.3M
Goodwill & intangibles	—	—	—	—	—	—	—	—	—	—	—	—
Total assets	793.5M	863.3M	891.7M	859.8M	824M	785.7M	704.7M	708.3M	734.6M	766.4M	750.8M	720.3M
Accounts payable	12.3M	14M	13.2M	15.5M	14.3M	13.8M	15.1M	17.5M	16.7M	17.9M	16.9M	18.8M
Short-term debt	—	2.4M	—	—	—	2.5M	—	—	—	3.2M	—	—
Total current liabilities	62.2M	64.1M	65M	97.7M	75.7M	69.9M	72.7M	66.5M	68.3M	70.7M	77.4M	79.4M
Long-term debt	3.6M	6.6M	6.2M	5.7M	5.3M	5.3M	5.6M	6.1M	5.6M	5M	4.8M	4.5M
Total liabilities	70M	75.9M	76.3M	108.7M	87.1M	81.9M	85.3M	79.9M	81.2M	83.2M	89.6M	91.2M
Shareholders' equity	723.5M	787.4M	815.4M	751.1M	736.9M	703.8M	619.4M	628.4M	653.4M	683.2M	661.3M	629.1M
Total debt	3.6M	9M	6.2M	5.7M	5.3M	7.8M	5.6M	6.1M	5.6M	8.2M	4.8M	4.5M
Net debt	-130.2M	-135.4M	-114.7M	-86.3M	-159.5M	-147.5M	-140.4M	-210.1M	-246.8M	-294.3M	-389.5M	-391.7M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	8.8M	22.4M	61.2M	75M	165.1M	161.5M	197.9M	181.3M	93.8M
Depreciation & amortization	204K	184K	302K	416K	517K	680K	623K	728K	695K
Stock-based compensation	2.4M	1.9M	1.6M	12.8M	12M	24.5M	23.6M	16.6M	11.1M
Change in working capital	3.5M	4.8M	10.5M	-10.6M	-3.8M	-4.5M	-41.4M	-7.1M	-24.3M
Operating cash flow	14.4M	28.6M	72.1M	78.8M	174.2M	181.1M	175.8M	131.9M	85.3M
Capital expenditure	-189K	-381K	-693K	-463K	-939K	-1.6M	-705K	-669K	—
Investing cash flow	-5.7M	-29.7M	-112.5M	-43.3M	-160.1M	-109.5M	-136.1M	162.2M	187M
Dividends paid	—	—	—	—	—	—	—	—	—
Share repurchases	—	0	0	-17.2M	-35.4M	-42.6M	0	-285.4M	-127.4M
Financing cash flow	1.7M	0	69.8M	-17.2M	-35.4M	-42.6M	0	-285.4M	-127.4M
Net change in cash	10.4M	-1.1M	29.5M	18.3M	-21.3M	28.9M	39.7M	8.7M	144.8M
Free cash flow	14.4M	36.5M	61.5M	78.8M	173.9M	180M	176.1M	132M	84.3M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	46.5M	55.2M	23.7M	23.8M	51M	82.8M	18.2M	26.7M	21.9M	27M	11.6M	17.1M
Depreciation & amortization	129K	122K	165K	177K	138K	248K	174K	191K	156K	174K	175K	179K
Stock-based compensation	6.6M	6.3M	4M	5.2M	4M	3.4M	2.5M	3.4M	2.7M	2.5M	2.7M	3.7M
Change in working capital	-11.5M	813K	848K	17.8M	-25.1M	-591K	-6.1M	-6.7M	-4.1M	-7.4M	-621K	-1.3M
Operating cash flow	41M	60.9M	23.9M	41.9M	33.9M	32.3M	14.1M	24.1M	24.5M	22.7M	15.4M	21.1M
Capital expenditure	-149K	-21K	-112K	-246K	-77K	-234K	-85K	—	—	—	—	—
Investing cash flow	-69.8M	-51.7M	-47.4M	17.7M	114.1M	77.8M	75.5M	71.9M	11.8M	27.8M	109.3M	37.9M
Dividends paid	—	—	—	—	—	—	—	—	—	—	—	—
Share repurchases	0	0	—	-89M	-76.6M	-119.8M	-100M	-27.5M	0	0	-31.2M	-56.5M
Financing cash flow	0	0	—	-89M	-76.6M	-119.8M	-100M	-27.5M	0	0	-33M	-56.5M
Net change in cash	-28.8M	9.2M	-23.5M	-29.4M	71.4M	-9.7M	-10.3M	68.5M	36.3M	50.4M	91.6M	2.4M
Free cash flow	41.3M	61.2M	24M	41.8M	34M	32.2M	14M	23.9M	24.3M	22.1M	15.2M	20.8M

InMode Ltd. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement