InMode Stock Falls Despite Q4 Earnings Beat Consensus

 InMode Ltd INMD posted Q4 sales of $110.5 million, +47% Y/Y, beating the consensus of $$102.34 million.

• "The increase in revenues was driven by the continued success of our core, minimally invasive technology and elevated by the launch of new products in the U.S. in the second half of 2021," said Yair Malca, Chief Financial Officer of InMode. "Additionally, we gained traction in international markets, with international revenues growing 69% year-over-year." 
• InMode reported an adjusted EPS of $0.64 versus $0.47 a year ago and the consensus of $0.55.
• Adjusted gross margin was 85% down from 86% a year ago, primarily attributable to the increase of sales in international markets, mainly in countries where the Company operates through distributors.
• Adjusted operating margin was 51%, unchanged from Q4 FY20.
• The Company held $415.9 million in cash & cash equivalents, marketable securities, and short-term bank deposits.
• Guidance: InMode forecasts FY22 revenues of $415 million - $425 million, compared to the consensus of $422.06 million.
• It expects an adjusted gross margin of 84% - 86%, with an operating income of $199 million - $204 million.
• The Company anticipates adjusted EPS of $2.06 - $2.11, compared to the consensus of $2.06.
• Price Action: INMD shares are down 0.65% at $53.22 during the market session on the last check Thursday.