NASDAQ : INMD
InMode Ltd. — Financial statements
Healthcare · Medical Devices · Israel
Last price 13.26 USD (Oct 30, 2026, 2:33 PM EDT) · Market cap 762.20M
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
InMode Ltd. (INMD) reported revenue of 374.62M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 374.62M | 370.50M | 394.82M | 492.05M | 454.27M | 357.56M |
| Cost of Revenue | 87.95M | 79.53M | 77.75M | 80.71M | 73.48M | 53.59M |
| Gross Profit | 286.68M | 290.97M | 317.07M | 411.34M | 380.79M | 303.97M |
| Selling, General & Admin | 201.96M | 192.26M | 191.40M | 202.27M | 170.51M | 127.76M |
| Research & Development | 14.25M | 13.32M | 13.14M | 13.41M | 12.43M | 9.53M |
| Other Operating Expenses | -800.00K | |||||
| Operating Expenses | 216.21M | 205.58M | 204.53M | 215.68M | 182.93M | 136.50M |
| Operating Income | 70.46M | 85.39M | 112.53M | 195.66M | 197.85M | 167.48M |
| Interest & Investment Income | 18.39M | 21.58M | 33.54M | 21.13M | 3.68M | 700.00K |
| Other Non Operating Income (Expenses) | 3.38M | 3.38M | -2.43M | 479.00K | ||
| EBT Excluding Unusual Items | 92.23M | 110.34M | 143.64M | 217.27M | 201.54M | 168.18M |
| Gain (Loss) on Sale of Investments | -15.00K | -15.00K | -167.00K | -71.00K | -175.00K | |
| Pretax Income | 90.95M | 110.33M | 143.47M | 217.27M | 201.47M | 168.00M |
| Income Tax Expense | 13.44M | 16.50M | -37.81M | 19.35M | 39.95M | 2.93M |
| Earnings From Continuing Operations | 77.51M | 93.83M | 181.28M | 197.92M | 161.52M | 165.07M |
| Minority Interest in Earnings | -103.00K | |||||
| Net Income | 77.51M | 93.83M | 181.28M | 197.92M | 161.52M | 164.97M |
| Net Income to Common | 77.51M | 93.83M | 181.28M | 197.92M | 161.52M | 164.97M |
| Shares Outstanding (Basic) | 62.21M | 64.63M | 79.31M | 83.53M | 82.48M | 81.44M |
| Shares Outstanding (Diluted) | 63.03M | 65.44M | 80.60M | 85.95M | 85.40M | 86.02M |
| EPS (Basic) | 1.25 | 1.45 | 2.29 | 2.37 | 1.96 | 2.03 |
| EPS (Diluted) | 1.22 | 1.43 | 2.25 | 2.30 | 1.89 | 1.92 |
| Free Cash Flow | 82.53M | 84.28M | 132.00M | 176.12M | 180.00M | 173.95M |
| Free Cash Flow Per Share | 1.31 | 1.29 | 1.64 | 2.05 | 2.11 | 2.02 |
| Gross Margin | 76.52% | 78.53% | 80.31% | 83.60% | 83.82% | 85.01% |
| Operating Margin | 18.81% | 23.05% | 28.50% | 39.76% | 43.55% | 46.84% |
| Profit Margin | 20.69% | 25.33% | 45.91% | 40.22% | 35.56% | 46.14% |
| Free Cash Flow Margin | 22.03% | 22.75% | 33.43% | 35.79% | 39.62% | 48.65% |
| EBITDA | 71.15M | 86.08M | 113.26M | 196.28M | 198.53M | 167.99M |
| EBITDA Margin | 18.99% | 23.23% | 28.69% | 39.89% | 43.70% | 46.98% |
| D&A For EBITDA | 684.00K | 695.00K | 728.00K | 623.00K | 680.00K | 517.00K |
| EBIT | 70.46M | 85.39M | 112.53M | 195.66M | 197.85M | 167.48M |
| EBIT Margin | 18.81% | 23.05% | 28.50% | 39.76% | 43.55% | 46.84% |
| Effective Tax Rate | 14.77% | 14.95% | 8.91% | 19.83% | 1.74% | |
| Advertising Expenses | 11.00M | 15.00M | 15.00M | 10.00M | 4.00M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 396.17M | 302.54M | 155.33M | 144.41M | 97.54M | 68.14M |
| Short-Term Investments | 104.94M | 252.79M | 441.14M | 597.19M | 449.84M | 347.78M |
| Cash & Short-Term Investments | 501.12M | 555.33M | 596.47M | 741.61M | 547.38M | 415.91M |
| Accounts Receivable | 44.55M | 43.50M | 36.34M | 42.36M | 27.00M | 20.24M |
| Other Receivables | 5.78M | 4.72M | 1.27M | 1.27M | 4.53M | |
| Receivables | 44.55M | 49.28M | 41.05M | 43.63M | 28.27M | 24.77M |
| Inventory | 71.66M | 74.05M | 59.55M | 45.09M | 39.90M | 21.03M |
| Prepaid Expenses | 32.66M | 4.63M | 2.42M | 3.04M | 1.93M | 1.20M |
| Other Current Assets | 15.32M | 14.96M | 11.96M | 11.90M | 7.20M | |
| Total Current Assets | 650.00M | 698.62M | 714.45M | 845.33M | 629.37M | 470.11M |
| Property, Plant & Equipment | 11.32M | 10.87M | 11.05M | 12.08M | 7.37M | 5.72M |
| Long-Term Investments | 700.00K | 700.00K | 700.00K | 700.00K | 600.00K | 600.00K |
| Long-Term Accounts Receivable | 5.69M | 3.00M | 3.18M | 3.67M | 3.97M | 768.00K |
| Long-Term Deferred Tax Assets | 52.63M | 53.23M | 56.28M | 1.51M | 3.09M | 1.33M |
| Total Assets | 720.33M | 766.43M | 785.67M | 863.29M | 644.41M | 478.54M |
| Accounts Payable | 18.79M | 17.91M | 13.78M | 13.97M | 16.24M | 8.78M |
| Accrued Expenses | 22.15M | 21.67M | 26.41M | 23.49M | 20.98M | |
| Current Portion of Leases | 3.22M | 2.51M | 2.40M | 1.45M | 1.21M | |
| Current Income Taxes Payable | 761.00K | 933.00K | 1.92M | 19.24M | 1.24M | |
| Current Unearned Revenue | 15.45M | 18.22M | 21.86M | 16.58M | 17.80M | 13.80M |
| Other Current Liabilities | 45.19M | 8.48M | 9.10M | 2.86M | 3.79M | 5.83M |
| Total Current Liabilities | 79.44M | 70.74M | 69.85M | 64.14M | 82.02M | 51.85M |
| Long-Term Leases | 4.45M | 5.01M | 5.31M | 6.61M | 3.51M | 3.31M |
| Long-Term Unearned Revenue | 2.48M | 3.04M | 3.34M | 3.77M | 3.96M | 2.75M |
| Other Long-Term Liabilities | 4.83M | 4.44M | 3.36M | 1.40M | 303.00K | 4.83M |
| Total Liabilities | 91.20M | 83.23M | 81.85M | 75.91M | 89.79M | 62.74M |
| Common Stock | 629.13M | 251.00K | 249.00K | 245.00K | 241.00K | 239.00K |
| Additional Paid-In Capital | 209.62M | 197.03M | 177.82M | 148.80M | 122.70M | |
| Retained Earnings | 968.53M | 874.70M | 693.43M | 495.51M | 333.99M | |
| Treasury Stock | -495.27M | -367.82M | -82.44M | -82.44M | -39.80M | |
| Comprehensive Income & Other | 69.00K | -340.00K | -1.68M | -7.49M | -1.32M | |
| Total Common Equity | 629.13M | 683.20M | 703.81M | 787.37M | 554.62M | 415.80M |
| Shareholders' Equity | 629.13M | 683.20M | 703.81M | 787.37M | 554.62M | 415.80M |
| Total Liabilities & Equity | 720.33M | 766.43M | 785.67M | 863.29M | 644.41M | 478.54M |
| Total Debt | 4.45M | 8.23M | 7.82M | 9.02M | 4.96M | 4.52M |
| Net Cash (Debt) | 496.66M | 547.11M | 588.65M | 732.59M | 542.42M | 411.40M |
| Net Cash Per Share | 7.88 | 8.36 | 7.30 | 8.52 | 6.35 | 4.78 |
| Filing Date Shares Outstanding | 58.90M | 63.36M | 69.56M | 83.98M | 82.54M | 82.98M |
| Total Common Shares Outstanding | 58.90M | 63.36M | 69.56M | 83.98M | 82.54M | 82.98M |
| Working Capital | 570.56M | 627.88M | 644.60M | 781.19M | 547.35M | 418.26M |
| Book Value Per Share | 10.68 | 10.78 | 10.12 | 9.38 | 6.72 | 5.01 |
| Tangible Book Value | 629.13M | 683.20M | 703.81M | 787.37M | 554.62M | 415.80M |
| Tangible Book Value Per Share | 10.68 | 10.78 | 10.12 | 9.38 | 6.72 | 5.01 |
| Machinery | 6.06M | 5.17M | 4.60M | 4.30M | 2.99M | |
| Leasehold Improvements | 1.42M | 1.33M | 1.24M | 829.00K | 569.00K |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 77.51M | 93.83M | 181.28M | 197.92M | 161.52M | 164.97M |
| Depreciation & Amortization | 684.00K | 695.00K | 728.00K | 623.00K | 680.00K | 517.00K |
| Loss (Gain) From Sale of Investments | 12.00K | 15.00K | 167.00K | 71.00K | 175.00K | |
| Stock-Based Compensation | 11.60M | 11.13M | 16.57M | 23.60M | 24.45M | 11.96M |
| Provision & Write-off of Bad Debts | 1.65M | 454.00K | 572.00K | 1.02M | 449.00K | 516.00K |
| Other Operating Activities | 5.58M | 3.43M | -59.58M | -4.90M | -1.13M | 556.00K |
| Change in Accounts Receivable | -13.69M | -7.45M | 5.95M | -16.08M | -10.41M | -10.54M |
| Change in Inventory | -3.55M | -14.50M | -14.45M | -5.20M | -18.87M | -6.04M |
| Change in Accounts Payable | 1.31M | 4.13M | -184.00K | -2.28M | 7.46M | 2.37M |
| Change in Unearned Revenue | 1.58M | -4.96M | 5.40M | -3.07M | 1.20M | 2.67M |
| Change in Other Net Operating Assets | 883.00K | -1.51M | -3.78M | -14.81M | 16.15M | 7.74M |
| Operating Cash Flow | 83.58M | 85.26M | 132.66M | 176.83M | 181.58M | 174.88M |
| Capital Expenditures | -1.05M | -972.00K | -669.00K | -705.00K | -1.57M | -939.00K |
| Investment in Securities | 186.73M | 187.00M | 162.88M | -135.36M | -107.90M | -159.17M |
| Investing Cash Flow | 185.68M | 186.03M | 162.21M | -136.06M | -109.47M | -160.11M |
| Issuance of Common Stock | 1.02M | 1.39M | 2.61M | 5.50M | 1.55M | 20.34M |
| Repurchase of Common Stock | -89.55M | -127.44M | -285.38M | -42.64M | -35.37M | |
| Financing Cash Flow | -88.53M | -126.06M | -282.77M | 5.50M | -41.09M | -15.02M |
| Foreign Exchange Rate Adjustments | -788.00K | 1.98M | -1.18M | 605.00K | -1.61M | -559.00K |
| Net Cash Flow | 179.94M | 147.21M | 10.92M | 46.87M | 29.40M | -802.00K |
| Free Cash Flow | 82.53M | 84.28M | 132.00M | 176.12M | 180.00M | 173.95M |
| Free Cash Flow Margin | 22.03% | 22.75% | 33.43% | 35.79% | 39.62% | 48.65% |
| Free Cash Flow Per Share | 1.31 | 1.29 | 1.64 | 2.05 | 2.11 | 2.02 |
| Levered Free Cash Flow | 47.40M | 39.10M | 78.31M | 105.23M | 149.35M | 107.56M |
| Unlevered Free Cash Flow | 47.40M | 39.10M | 78.31M | 105.23M | 149.35M | 107.56M |
| Cash Income Tax Paid | 14.87M | 14.87M | 17.69M | 31.61M | 25.84M | 1.66M |
| Change in Working Capital | -13.46M | -24.30M | -7.07M | -41.44M | -4.47M | -3.81M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 759.90M | 928.54M | 1.41B | 1.85B | 2.97B | 5.39B |
| Enterprise Value | 263.23M | 401.83M | 733.57M | 1.18B | 2.48B | 5.01B |
| Last Close Price | 13.22 | 14.69 | 16.70 | 22.24 | 35.70 | 70.58 |
| PE Ratio | 10.86 | 9.90 | 7.80 | 9.35 | 18.36 | 32.68 |
| Forward PE | 10.00 | 9.18 | 7.96 | 9.09 | 14.36 | 35.47 |
| PS Ratio | 2.03 | 2.51 | 3.58 | 3.76 | 6.53 | 15.08 |
| PB Ratio | 1.24 | 1.36 | 2.01 | 2.35 | 5.35 | 12.96 |
| P/TBV Ratio | 1.21 | 1.36 | 2.01 | 2.35 | 5.35 | 12.96 |
| P/FCF Ratio | 9.21 | 11.02 | 10.71 | 10.51 | 16.48 | 30.99 |
| P/OCF Ratio | 9.09 | 10.89 | 10.65 | 10.47 | 16.34 | 30.83 |
| EV/Sales Ratio | 0.70 | 1.08 | 1.86 | 2.40 | 5.47 | 14.00 |
| EV/EBITDA Ratio | 3.70 | 4.67 | 6.48 | 6.01 | 12.51 | 29.81 |
| EV/EBIT Ratio | 3.74 | 4.71 | 6.52 | 6.03 | 12.55 | 29.90 |
| EV/FCF Ratio | 3.19 | 4.77 | 5.56 | 6.69 | 13.80 | 28.79 |
| Debt / Equity Ratio | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| Debt / EBITDA Ratio | 0.06 | 0.09 | 0.07 | 0.05 | 0.02 | 0.03 |
| Debt / FCF Ratio | 0.05 | 0.10 | 0.06 | 0.05 | 0.03 | 0.03 |
| Net Debt / Equity Ratio | -0.79 | -0.80 | -0.84 | -0.93 | -0.98 | -0.99 |
| Net Debt / EBITDA Ratio | -6.98 | -6.36 | -5.20 | -3.73 | -2.73 | -2.45 |
| Net Debt / FCF Ratio | -6.02 | -6.49 | -4.46 | -4.16 | -3.01 | -2.37 |
| Asset Turnover | 0.52 | 0.48 | 0.48 | 0.65 | 0.81 | 0.92 |
| Inventory Turnover | 1.26 | 1.19 | 1.49 | 1.90 | 2.41 | 2.98 |
| Quick Ratio | 6.87 | 8.55 | 9.13 | 12.24 | 7.02 | 8.50 |
| Current Ratio | 8.18 | 9.88 | 10.23 | 13.18 | 7.67 | 9.07 |
| Return on Equity (ROE) | 12.33% | 13.53% | 24.31% | 29.50% | 33.29% | 49.18% |
| Return on Assets (ROA) | 6.17% | 6.88% | 8.53% | 16.22% | 22.02% | 27.04% |
| Return on Invested Capital (ROIC) | 45.95% | 57.80% | 132.43% | 325.34% | ||
| Return on Capital Employed (ROCE) | 11.00% | 12.30% | 15.70% | 24.50% | 35.20% | 39.30% |
| Earnings Yield | 9.21% | 10.11% | 12.83% | 10.69% | 5.45% | 3.06% |
| FCF Yield | 10.86% | 9.08% | 9.34% | 9.52% | 6.07% | 3.23% |
| Buyback Yield / Dilution | 10.73% | 18.80% | 6.23% | -0.64% | 0.71% | -2.18% |