The earnings call highlighted strong international growth and maintained high margins, but was overshadowed by challenges in the North American market, increased operating expenses, reduced guidance, and the impact of U.S. tariffs. The sentiment reflects a cautious outlook due to these challenges.

Company Guidance -

Q3 2025

In the call, InMode provided guidance for the remainder of 2025, projecting revenues between $365 million and $375 million, a decrease from the previous forecast of $395 million to $405 million, reflecting the challenging market conditions in the medical aesthetics industry. They anticipate non-GAAP gross margins to remain between 78% and 80%, consistent with prior guidance. Non-GAAP income from operations is expected to be between $93 million and $98 million, down from the earlier estimate of $101 million to $106 million. Additionally, non-GAAP earnings per diluted share are projected to range from $1.55 to $1.59, revised from the prior guidance of $1.64 to $1.68. The company cited reduced physician capital investment and a slowdown in the aesthetic market as reasons for the lowered guidance, yet remains optimistic due to their ongoing global expansion and product innovations.

Strong International Revenue Growth

Sales outside of the U.S. accounted for $45 million or 48% of overall sales, representing an 11% increase year-over-year. Europe was the largest geographical revenue contributor, reaching a record of $23 million.

High Gross Margins Maintained

Gross margin remained strong at 80% on a GAAP basis, consistent with Q2 2024. Non-GAAP gross margin was 80%, slightly down from 81% in Q2 2024.

Increase in GAAP Net Income

GAAP net income was $26.7 million, up 12% from $23.8 million in Q2 2024. Non-GAAP net income was $30.1 million, up from $29 million.

Strong Balance Sheet

The company ended the quarter with cash and cash equivalents, marketable securities, and deposits of $510.7 million.

InMode (INMD) Earnings, Revenues Date & History

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INMD Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 22, 2025	2025 (Q3)	0.34 / -	0.7	―	―	―
Jul 30, 2025	2025 (Q2)	0.41 / 0.47	0.34	38.24% (+0.13)
Apr 28, 2025	2025 (Q1)	0.35 / 0.31	0.32	-3.13% (-0.01)
Feb 04, 2025	2024 (Q4)	0.53 / 0.42	0.71	-40.85% (-0.29)
Oct 30, 2024	2024 (Q3)	0.57 / 0.70	0.61	14.75% (+0.09)
Aug 01, 2024	2024 (Q2)	0.38 / 0.34	0.72	-52.78% (-0.38)
May 02, 2024	2024 (Q1)	0.43 / 0.32	0.52	-38.46% (-0.20)
Feb 13, 2024	2023 (Q4)	0.66 / 0.71	0.78	-8.97% (-0.07)
Nov 02, 2023	2023 (Q3)	0.64 / 0.61	0.66	-7.58% (-0.05)
Jul 27, 2023	2023 (Q2)	0.65 / 0.72	0.59	22.03% (+0.13)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

INMD Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 30, 2025	$14.31	$13.90	-2.87%
Apr 28, 2025	$16.22	$14.26	-12.08%
Feb 04, 2025	$16.67	$17.50	+4.98%
Oct 30, 2024	$17.91	$17.87	-0.22%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.