InMode Ltd. (NASDAQ:INMD) Q3 2024 Earnings Conference Call October 30, 2024 8:30 AM ET

Company Participants

Miri Segal - CEO, MS-IR
Moshe Mizrahy - Chief Executive Officer
Michael Kreindel - Chief Technology Officer
Yair Malca - Chief Financial Officer
Eran Krieger - Medical Director and VP of Medical Affairs
Rafael Lickerman - Vice President, Finance

Conference Call Participants

Matt Miksic - Barclays
Caitlin Cronin - Canaccord Genuity
Sam Eiber - BTIG

Operator

Good day, and welcome to the InMode's Third Quarter 2024 Earnings Results Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note this event is being recorded.

I would now like to hand the call to Miri Segal, CEO of MS-IR. Please go ahead.

Miri Segal

Thank you, operator and everyone for joining us today. Welcome to InMode's third quarter 2024 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 visit 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 Mizrahi, 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 CFO; our Medical Director and VP of Medical Affairs, Dr. Eran Krieger; and Rafael Lickerman, our VP of Finance. Following our prepared remarks, we will all be available for Q&A.

During the third quarter, macroeconomics headwind continued to impact our performance as reflected in our financial results. A decrease in minimally invasive treatment and a slowdown in platform sales led to less than expected sales in consumable and platforms in Q3, which in turn led us to revise our full year guidance. We are optimistic about the early endorsement of our two new platforms, IgniteRF and Optimus Max. We hope that as macroeconomics environment improves, particularly in easing interest rate and faster financial approval from leasing company, more physicians will recognize the benefit and efficacy of these new platforms.