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InMode (INMD) Stock Surges After Record Q3 Revenues Expected

Sam Boughedda

Medical technology company InMode (NASDAQ: INMD) has announced preliminary earnings results for the third quarter 2020 saying that based on initial results it expects record revenues in the range of $59.2 to $59.5 million.

InMode also said that its earnings per diluted share for the third quarter will be in the range of $0.60 to $0.62 while it has increased its full-year revenue guidance for 2020 to between $192 to $195 million. 

It’s two leading electro-surgical proprietary technologies, invasive and hands-free “are becoming the gold standard of the minimally invasive surgical procedures,” said Moshe Mizrahy, InMode’s CEO.

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“We expect the underlying interest in our differentiated product suite will continue to drive sales into the fourth quarter of 2020. As a result, we decided to increase our full year 2020 revenue guidance to $192-$195 million,” commented Mizrahy.

InMode’s share price has jumped 21% since the release to $47.50 after closing Monday at $39.13. Its stock has gained 56% in the last six months. 

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Sam Boughedda
Sam Boughedda
Team Member

Sam is a trader and lead stock market writer at AskTraders. After starting his career in the forex market, Sam now focuses on stocks, specifically consumer staples.