Inmode Shares Pop On First Quarterly Print As A Public Company

Shares of Inmode INMD, which went public last week, traded sharply higher Wednesday morning.

The Israel-based provider of energy-based, minimally-invasive surgical aesthetic and medical treatment solutions released results for its second quarter ended June 30, which showed a 55% year-over-year increase in revenues to $38.8 million. Net income more than doubled to $15.8 million, and the net income per share improved from 21 cents to 45 cents per share.

Gross margin expanded from 84% in the second quarter of 2018 to 87% in the second quarter of 2019, thanks to an increase in the average sales price of its platforms in the U.S.

Cash and cash equivalents, marketable securities and deposits were at $82.8 million at the end of the second quarter.

Inmode shares were higher by 23.21% to $17.25 at time of publication, compared to their IPO price of $14.

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