YOKNEAM, Israel , Oct. 30, 2024 /PRNewswire/ -- InMode Ltd. (Nasdaq: INMD ) ("InMode") , a leading global provider of innovative medical technologies, today announced its consolidated financial results for the third quarter ended September 30, 2024 .
Third Quarter 2024 Highlights: Quarterly GAAP revenue of $130.2 million (which consists of $98.3 million of net sales in Q3 and $31.
9 million of pre-orders from the first half of 2024). Quarterly revenues from consumables and service of $15.8 million , a decrease of 11% compared to the third quarter of 2023.
GAAP operation income of $48.2 million , *non-GAAP operation income of $52.2 million .
Total cash position of $684.9 million as of September 30, 2024 , including cash and cash equivalents, marketable securities, and short-term bank deposits. Full-year 2024 revenue guidance has been revised to be between $410 million and $420 million , compared to prior guidance of $430 million to $440 million .
Management Comments "The third quarter presented ongoing challenges for InMode," said Moshe Mizrahy , Chief Executive Officer. "Macroeconomic conditions led to a decrease in demand for our consumables and new platform sales, while the launch of our latest platforms required extended adjustments to our production lines. Nevertheless, we believe our recent management changes will better align our operations with our strategic plan.
We also take pride in our dedicated employees, whose hard work has allowed us to make faster-than-expected .
