InMode Ltd. (NASDAQ:INMD) Q4 2023 Earnings Conference Call February 13, 2024 8:30 AM ET

Company Participants

Miri Segal - Investor Relations

Moshe Mizrahy - Chairman, CEO and Co-Founder

Michael Kreindel - Co-Founder and Chief Technology Officer

Yair Malca - Chief Financial Officer

Shakil Lakhani - President, North America

Rafael Lickerman - VP of Finance

Conference Call Participants

Matt Miksic - Barclays

Mike Sarcone - Jefferies

Danielle Antalffy - UBS

Mike Matson - Needham & Company

Caitlin Cronin - Canaccord Genuity

Jeff Johnson - Baird

Anthony Petrone - Mizuho Financial Group

Operator

Good day, and welcome to the InMode's Fourth Quarter and Full Year 2023 Earnings Conference Call. [Operator instructions] Please note, this event is being recorded.

I would now like to turn the conference over to Miri Segal of MS-IR. Please go ahead.

Miri Segal

Thank you, operator, and to everyone for joining us today. Welcome to InMode's fourth quarter and full year 2023 earnings call. Before we begin, I would like to remind, our listeners that certain information provided on this call may contain forward-looking statements, and the safe harbor statement outlined in today's earnings release also pertains to this call. If you have not received a copy of the release, please go the Investor Relations section of the company's website.

Changes in business, competitive, technological, regulatory, and other factors could cause actual results to differ materially from those expressed by the forward-looking statements made today. Our historical results are not necessarily indicative of future performance. As such, we can give no assurance as to the accuracy of our forward-looking statements and assume no obligation to update them, except as required by law.

With that, I'd like to pass the call over to Moshe Mizrahy, Chairman and CEO. Moshe, please go ahead.

Moshe Mizrahy

Thank you, Miri, and to everyone for joining us. With me today are Dr. Michael Kreindel, our Co-Founder and Chief Technology Officer; Yair Malca, our Chief Financial Officer; Shakil Lakhani, our President in North America; and Rafael Lickerman, our VP of Finance. Following the prepared remarks, we will all be available to answer your question.

The second half of 2023 presented challenges for InMode for their aesthetic industry as all and to the aesthetic -- and to the surgical aesthetic sector in particular. In the fourth quarter, we revised our guidance for the first time in the history of the company due to the increased impact of the industry slowdown. This resulted in 5% year-over-year decline in Q4 revenue, which amounted to $126.8 million.