After a four-day decline, shares of the Israeli medtech company InMode Ltd.NASDAQ: INMD).
The company focused on cosmetic procedures technologies reported $133.6 million in revenue and $66.4 million in GAAP net income for the quarter with growth of ~21% YoY and ~20% YoY, beating analyst estimates.
His adj. 2023 earnings guidance was $2.58-$2.60 per share compared to consensus of $2.64, while a revenue outlook of $525-$530 million was in line with consensus.
Full year revenue reached $454.3 million indicating growth of ~27% YoY driven by demand for our minimally invasive platforms, while international revenue climbed ~29% YoY.
“We are pleased to report another record revenue year and continued high profitable growth as we expand globally and reach an annual revenue rate approaching $500 million,” noted CEO Moshe Mizrahy.
Based on the report, Inmode’s ( INMD ) gross margin fell to ~84% in the fourth quarter and full year 2022 from ~85% in prior periods, while operating margins narrowed to ~45% and 44% from ~49% and ~47%, that is.
Read: Alpha seeker issues a Hold rating on InMode ( INMD ) ahead of earnings, expecting the company to post revenue of $434M in 2023.