InMode reports Q3 adjusted EPS 61c, consensus 64c

Reports Q3 revenue $123.1M, consensus $132.26M. “The third quarter was the first time that we experienced a slowdown, which was mainly attributed to a strong seasonality impact. In addition, record-high interest rates affected new leasing agreements and platform sale cycles were longer than usual,” said Moshe Mizrahy, Chairman and Chief Executive Officer. “However, we are pleased to see high demand for InMode’s treatments, as reflected by year-over-year consumables growth higher than 20%.” Shakil Lakhani, President of InMode North America, commented, “This quarter, the soft launch of Envision continued to gain traction in the U.S., and we were pleased to see the increased adoption level by both ophthalmologists and optometrists.” “As we mentioned last quarter, we are in the process of developing new and improved minimally invasive technologies and platforms as well as upgrading and adding new features to Morpheus8 and Evolve,” said Dr. Spero Theodorou, Chief Medical Officer.