InMode Reports Second Quarter 2026 Financial Results: Quarterly GAAP Revenues of $95.6 Million, Consistent with the Second Quarter of 2025

InMode Reports Second Quarter 2026 Financial Results: Quarterly GAAP Revenues of $95.6 Million, Consistent with the Second Quarter of 2025

PR Newswire

YOKNEAM, Israel, Aug. 5, 2026

YOKNEAM, Israel, Aug. 5, 2026 /PRNewswire/ -- InMode Ltd. (Nasdaq: INMD) ("InMode"), a leading global provider of innovative medical technologies, today announced its consolidated financial results for the second quarter of 2026.

Second Quarter 2026 Highlights:Quarterly GAAP revenues of $95.6 million, consistent with the second quarter of 2025.Quarterly revenues from consumables and service of $22.3 million, an increase of 13% compared to the second quarter of 2025.GAAP operating income of $12.3 million and *non-GAAP operating income of $16.0 million.Total cash position of $501.1 million as of June 30, 2026, including cash and cash equivalents, marketable securities and short-term bank deposits.Completed the repurchase of 6.38 million ordinary shares for an aggregate purchase price of $87.8 million through the previously announced share repurchase program.U.S. GAAP Results (U.S. dollars in thousands, except for per share data) Q2 2026Q2 2025$95,589$95,60275 %80 %13 %24 %$17,064$26,742$0.29$0.42*Non-GAAP Results(U.S. dollars in thousands, except for per share data)Q2 2026Q2 202575 %80 %17 %28 %$20,812$30,139$0.35$0.47*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 included in this release. Non-GAAP results exclude share-based compensation, expenses related to independent transaction committee review (representing non-recurring cost) and related income tax adjustments where applicable.Management Comments"Overall revenue was consistent with the prior-year period, and we saw continued stability in our U.S. capital equipment business, reflecting steady customer demand. This performance is consistent with the stabilization we anticipate will continue through the remainder of the year. We remain focused on investing in opportunities that support long-term growth," said Moshik Itzkovich, Chief Financial Officer of InMode.Second Quarter 2026 Financial ResultsTotal GAAP revenues for the second quarter of 2026 were $95.6 million, consistent with the second quarter of 2025. Revenue from Asia reached a quarterly record, reflecting continued strength across key markets in the region. Quarterly revenues from consumables and service grew 13% compared to the second quarter of 2025, to $22.3 million, derived primarily from international sales.GAAP gross margin for the second quarter of 2026 was 75%, compared to 80% for the second quarter of 2025.*Non-GAAP gross margin for the second quarter of 2026 was 75%, compared to 80% for the second quarter of 2025.GAAP operating margin for the second quarter of 2026 was 13%, compared to 24% for the second quarter of 2025. *Non-GAAP operating margin for the second quarter of 2026 was 17%, compared to 28% for the second quarter of 2025. These decreases were primarily attributable to higher cost of goods sold, product mix, the restructuring of the North America sales team implemented toward the end of 2025, additional marketing and sales investments to retain talent and maintain market share, and higher general and administrative expenses driven by increased professional services costs. We expect these trends to continue for the foreseeable future.InMode reported GAAP net income of $17.1 million, or $0.29 per diluted share, in the second quarter of 2026, compared to $26.7 million, or $0.42 per diluted share, in the second quarter of 2025. On a *non-GAAP basis, InMode reported net income of $20.8 million, or $0.35 per diluted share, in the second quarter of 2026, compared to $30.1 million, or $0.47 per diluted share, in the second quarter of 2025.As of June 30, 2026, InMode had cash and cash equivalents, marketable securities and short-term bank deposits of $501.1 million.Appointed New Chief Financial Officer and New Board Director On May 20, 2026, the Company announced the appointment of Dr. Shlomo Nass as its new Chairman of the Company's Board of Directors, effective May 19, 2026. The Company also announced the appointment of Moshe (Moshik) Itzkovich as the Company's new Chief Financial Officer, effective May 19, 2026, while former Chief Financial Officer Yair Malca continues to be engaged with the Company as a consultant.2026 Financial Outlook Management provided an outlook for the full fiscal year ending December 31, 2026. Based on current estimates, management expects:Revenues between $365 million and $375 million*Non-GAAP gross margin between 74% and 76%*Non-GAAP income from operations to be between $68 million and $73 million*Non-GAAP earnings per diluted share between $1.29 and $1.34However, these expectations are based on management's current estimates, which may be updated.This outlook is not a guarantee of future performance, and shareholders 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, expenses related to independent transaction committee review (representing non-recurring cost) and related income tax adjustments where applicable.Conference Call and Webcast UpdateAs previously announced, while the Company's Special Committee continues its evaluation of unsolicited proposals, the Company will not host an investor conference call or webcast in connection with this earnings release and will not be conducting investor meetings at this time.The Current Situation in IsraelThe scope and severity of ongoing conflicts in Gaza, Northern Israel, Lebanon, Iran, and the broader region are unpredictable and could escalate at any time. To date, our operations have not been materially affected. We continue to monitor political and military developments closely and examine the consequences for our operations and assets. Use of Non-GAAP Financial MeasuresIn 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, non-GAAP gross margin and non-GAAP income from operations. Because these measures are used in InMode's internal analysis of financial and operating performance, management believes they provide investors with greater transparency into 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. Reconciliations of non-GAAP gross margin, non-GAAP income from operations, and non-GAAP earnings per diluted share for management's projections of such non-GAAP financials for the 2026 fiscal year are not available without unreasonable effort due to the variability, complexity and limited visibility of certain reconciling items. These reconciling items could have a significant and unpredictable impact on our future GAAP results.About InModeInMode 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 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.Forward-Looking Statements 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 actual amount of share repurchases made by the Company, if any. 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 10, 2026, and our subsequent 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.Company Contact:Moshik ItzkovichChief Financial OfficerEmail: Moshik.Itzkovich@inmodemd.com Investor Relations Contact:Miri SegalMS-IR LLCEmail: ir@inmodemd.com INMODE LTD.CONDENSED CONSOLIDATED STATEMENTS OF INCOME(U.S. dollars in thousands, except for per share data)(Unaudited)Three months endedSix months endedJune 30,June 30,2026202520262025REVENUES95,58995,602177,606173,476COST OF REVENUES24,07319,15244,53836,115GROSS PROFIT71,51676,450133,068137,361OPERATING EXPENSES:Research and development3,6563,3727,1986,267Sales and marketing50,81847,47493,75087,201General and administrative4,7852,7239,8075,394TOTAL OPERATING EXPENSES 59,25953,569110,75598,862OPERATING INCOME12,25722,88122,31338,499Finance income, net7,4328,06211,72814,921INCOME BEFORE INCOME TAXES19,68930,94334,04153,420INCOME TAXES2,6254,2015,4158,477NET INCOME17,06426,74228,62644,943EARNINGS PER SHARE:Basic0.290.420.470.68Diluted0.290.420.460.68WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING USED IN COMPUTATION OF EARNINGS PER SHARE (in thousands)Basic58,90363,25261,14065,982Diluted59,37863,63761,71766,540INMODE LTD.CONDENSED CONSOLIDATED BALANCE SHEETS(U.S. dollars in thousands, except for per share data)(Unaudited)June 30,2026December 31,2025AssetsCURRENT ASSETS:Cash and cash equivalents396,173302,543Marketable securities 18,99583,632Short-term bank deposits85,947169,159Accounts receivable, net of allowance for credit losses44,55543,504Prepaid expenses and other receivables32,66425,733Inventories71,66174,050 TOTAL CURRENT ASSETS 649,995698,621 NON-CURRENT ASSETS:Accounts receivable, net of allowance for credit losses 5,6863,005Deferred income tax assets52,62953,230Operating lease right-of-use assets 8,6938,274Property and equipment, net2,6282,599Other investments700700TOTAL NON-CURRENT ASSETS70,33667,808TOTAL ASSETS720,331766,429Liabilities and shareholders' equityCURRENT LIABILITIES:Accounts payables18,79217,912Contract liabilities15,45212,093Other liabilities45,19340,739TOTAL CURRENT LIABILITIES79,43770,744 NON-CURRENT LIABILITIES:Contract liabilities2,4843,043Other liabilities4,8254,436Operating lease liabilities4,4515,008TOTAL NON-CURRENT LIABILITIES11,76012,487TOTAL LIABILITIES91,19783,231TOTAL SHAREHOLDERS' EQUITY629,134683,198TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY720,331766,429INMODE LTD.CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(U.S. dollars in thousands, except for per share data)(Unaudited)Three months ended June 30,Six months ended June 30,2026202520262025CASH FLOWS FROM OPERATING ACTIVITIES:Net income 17,06426,74228,62644,943Adjustments required to reconcile net income to net cash provided by operating activities:Depreciation and amortization179191354365Share-based compensation expenses3,7083,4186,4075,936Change in allowance for credit losses of trade receivable7191471,24453Loss on marketable securities, net–5–3Finance expenses (income), net388(313)1,107(1,887)Deferred income taxes2955666221,462Changes in operating assets and liabilities:Decrease (increase) in accounts receivable (current and non-current)(5,046)(3,285)(4,974)1,259Decrease (increase) in other receivables(1,164)1,276(7,030)(2,256)Decrease (increase) in inventories(253)(4,329)2,389(8,562)Increase in accounts payable1,9392,4308803,700Increase (decrease) in other liabilities (current and non-current)4,4001274,012(3,160)Increase (decrease) in contract liabilities (current and non-current)(1,178)(2,903)2,800(3,740)Net cash provided by operating activities21,05124,07236,43738,116CASH FLOWS FROM INVESTING ACTIVITIES: Investment in short-term deposits(85,000)(25,000)(169,912)(25,000) Proceeds from short-term deposits84,91255,000252,57086,297 Purchase of fixed assets(211)(219)(383)(304) Purchase of marketable securities–-(9,727)(20,877) Proceeds from sale of marketable securities–-–3,003 Proceeds from maturity of marketable securities37,98341,87574,239104,022Net cash provided by investing activities37,68471,656146,787147,141CASH FLOWS FROM FINANCING ACTIVITIES:Tax withholding related to vesting of restricted share units--(1,802)-Repurchase of ordinary shares(56,511)(27,484)(87,752)(127,444)Exercise of options19505636999Net cash used in financing activities(56,492)(26,979)(88,918)(126,445)EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS(365)1,540(676)2,096NET INCREASE IN CASH AND CASH EQUIVALENTS1,87870,28993,63060,908CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD394,295145,948302,543155,329CASH AND CASH EQUIVALENTS AT END OF PERIOD396,173216,237396,173216,237INMODE LTD.CONDENSED CONSOLIDATED FINANCIAL HIGHLIGHTS(U.S. dollars in thousands, except for per share data)(Unaudited)Three months ended June 30,Six months ended June 30,2026202520262025Revenues by Category:Capital Equipment revenues - United States43,08445 %40,65342 %76,75343 %70,19540 %Capital Equipment revenues - International30,19432 %35,13337 %57,17932 %63,26637 %Total Capital Equipment revenues73,27877 %75,78679 %133,93275 %133,46177 %Consumables and service revenues22,31123 %19,81621 %43,67425 %40,01523 %Total Revenue95,589100 %95,602100 %177,606100 %173,476100 %Three months ended June 30,Six months ended June 30,2026202520262025%%%%United StatesInternationalTotalUnited StatesInternationalTotalUnited StatesInternationalTotalUnited StatesInternationalTotalRevenues by Technology:Minimal-Invasive717373738278737775828181Hands-Free 121423111323Non-Invasive282526231619262224151716100100100100100100100100100100100100INMODE LTD.RECONCILIATION OF GAAP CONDENSED CONSOLIDATED STATEMENTS OFINCOME TO NON-GAAP CONDENSED CONSOLIDATED STATEMENTS OF INCOME (U.S. dollars in thousands, except for per share data)(Unaudited)Three months ended June 30, 2026Three months ended June 30, 2025GAAP Stock Based CompensationNon-GAAPGAAP Stock Based CompensationNon-GAAPREVENUES95,589–95,58995,602–95,602COST OF REVENUES24,073(302)23,77119,152(334)18,818GROSS PROFIT71,51630271,81876,45033476,784OPERATING EXPENSES:Research and development3,656(282)3,3743,372(287)3,085Sales and marketing50,818(2,525)48,29347,474(2,529)44,945General and administrative4,785(599)4,1862,723(268)2,455TOTAL OPERATING EXPENSES59,259(3,406)55,85353,569(3,084)50,485OPERATING INCOME12,2573,70815,96522,8813,41826,299Finance income, net7,432–7,4328,062-8,062INCOME BEFORE INCOME TAXES19,6893,70823,39730,9433,41834,361INCOME TAXES2,625(40)2,5854,201214,222NET INCOME17,0643,74820,81226,7423,39730,139EARNINGS PER SHAREBasic0.290.350.420.48Diluted0.290.350.420.47WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING USED IN COMPUTATION OF NET INCOME PER SHARE (in Thousands)Basic58,90358,90363,25263,252Diluted59,37860,17463,63764,537Six months ended June 30, 2026Six months ended June 30, 2025GAAPStock Based CompensationExpenses Related to Independent TransactionCommittee ReviewNon-GAAPGAAPStock Based CompensationNon-GAAPREVENUES177,606––177,606173,476-173,476COST OF REVENUES44,538(616)–43,92236,115(644)35,471GROSS PROFIT133,068616–133,684137,361644138,005OPERATING EXPENSES:Research and development7,198(550)–6,6486,267(509)5,758Sales and marketing93,750(4,386)–89,36487,201(4,292)82,909General and administrative9,807(855)(1,262)7,6905,394(491)4,903TOTAL OPERATING EXPENSES110,755(5,791)(1,262)103,70298,862(5,292)93,570OPERATING INCOME22,3136,4071,26229,98238,4995,93644,435Finance income, net11,728––11,72814,921-14,921INCOME BEFORE INCOME TAXES34,0416,4071,26241,71053,4205,93659,356INCOME TAXES5,415(389)–5,0268,477(655)7,822NET INCOME28,6266,7961,26236,68444,9436,59151,534EARNINGS PER SHAREBasic0.470.600.680.78Diluted0.460.590.680.77WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING USED IN COMPUTATION OF NET INCOME PER SHARE (in Thousands)Basic61,14061,14065,98265,982Diluted61,71762,32466,54067,052Logo - 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