Today, InMode Ltd. (NASDAQ: INMD) announced its record fourth-quarter and full-year 2019 financial results.
The leading global provider of innovative medical technologies reported for the fourth-quarter of 2019 a record quarterly revenue of USD 47 million, increased by 63% from the same period in 2018 and primarily driven by the maintained expansion of InMode’s direct sales organizations in the U.S.
GAAP net income for the fourth-quarter of 2019 was USD 19.0 million, or USD 0.64 per diluted share, compared to a GAAP net loss attributable to InMode Ltd. of USD 0.2 million, or USD 0.01 per diluted share, for the fourth-quarter last year.
For the full year of 2019, InMode declared a total revenue of USD 156.4 million, increased by 56% on a year-to-year basis. Additionally, the medical technology Company made public a GAAP net income of USD 61.1 million, or USD 1.60 per diluted share in 2019, compared to USD 22.4 million, or USD 0.62 per diluted share in 2018.
The Company plans to maintain expanding in the U.S. and globally.
InMode’s management commented:
“InMode continues to develop the U.S. and international markets through its network of subsidiaries and distributors. In addition, InMode continues to work on clinical and obtaining regulation approval in various countries, recently receiving ANVISA clearance from Brazil, and additional approvals in the U.S. (FDA), Canada, Taiwan and other countries in Eastern Europe.”
InMode develops, manufactures and markets devices harnessing novel radio-frequency technologies and aims to enable new emerging surgical procedures as well as to improve existing treatments.
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