Revised earnings outlook for InMode indicates decreased full-year profit expectations
Stock Dip for InMode as Profit Expectations Slip
Looks like shares of Israeli medtech juggernaut InMode (NASDAQ: INMD) took a nose dive on Monday, following the company's decision to downgrade its full-year adjusted profit view due to, let's face it, some seriously tough market conditions.
Now, InMode's expecting their adjusted profits to hover somewhere between $1.64 and $1.68 per share—yikes, that's way below the consensus of $1.92!
This downward adjustment comes after a bumpy Q1, where the company raked in revenue of $77.9 million, falling just short of projections and marking a 3% year-over-year drop[1][3]. That's not all—gross margins took a hit too, plummeting from a healthy 80% in 2023 to a sluggish 78% this year[3].adding to the financial folly.
So, here's the straight scoop on InMode's revised full-year projections:- Revenue: Somewhere between $395 million and $405 million[1][5].- Non-GAAP gross margin: Likely in the ballpark of 78% to 80%, previously anticipated to be 80% to 82%[1].- Non-GAAP income from operations: Expected to stand at around $101 million to $106 million, a significant decrease from the earlier projected range of $130 million to $135 million[1].- Adjusted EPS (Earnings Per Share): Lowered to a range of $1.64 to $1.68, a perplexing drop from the previous projection of $1.95 to $1.99[2].
Stay tuned, folks—with market winds shifting like they are, InMode's ride might get pretty exciting!
- Despite tough market conditions, the lowered profit expectations for InMode (INMD) led to a dip in shares, suggesting a challenging period for the Israeli medtech company in the stock market.
- The downward adjustment in full-year adjusted profit view by InMode is due to revised revenue, non-GAAP gross margin, non-GAAP income from operations, and adjusted EPS projections.
- The revised full-year projections show a significant decrease in non-GAAP income from operations, from $130 million to $135 million to around $101 million to $106 million.
- The adjusted EPS (Earnings Per Share) is lowered to a range of $1.64 to $1.68, from the previous projection of $1.95 to $1.99, indicating a potential unfavorable impact on business operations and earnings for InMode.
