Israel-Based Medical Technology Company InMode Trims FY23 Outlook Again; Stock Tanks

Zinger Key Points
  • InMode cuts FY23 revenue outlook again.
  • The company faces slowdown in platform sales, mainly in North America.

InMode Ltd INMD shares are trading lower by around 13% after it trimmed its FY23 outlook.

The company cut the revenue forecast to $485 million - $495 million (from $500 million - $510 million a year ago) vs. consensus of $509.33 million and adjusted EPS to $2.47-$2.50 (from $2.53-$2.57 earlier) vs. $2.54 estimate.

The guidance cut is mainly due to stronger-than-expected headwinds from the current macroeconomic environment, leading to a slowdown in platform sales, mainly in North America.

In October, the Israel-based medical technology company lowered FY23 revenue guidance to $500 million-$510 million, expecting an economic slowdown to impact its platform sales this year, including seasonal Q3 and slower purchase decisions due to lower aesthetic activity in the summertime.

Also ReadInMode Faces Revenue Headwinds Amid Challenging Economics: Analyst Cuts Price Target And Estimates

Price Action: INMD shares are down 12.9% at $20.57 premarket on the last check Wednesday.

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