InMode Ltd. INMD
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Market cap
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No price or market cap here: this company files no 10-K, so the only share count SEC publishes for it counts its ordinary shares in its home market, while its US listing is a depositary receipt standing for some number of them. That number is in no filing, so a price multiplied by that count is not this company's value and is not shown. The financial statements below are as filed.
Valuation FY2025 figures against the last close
P/S—
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS1.43
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $370.5M | $394.8M | $492.0M | $454.3M | $357.6M | $206.1M | $156.4M | $100.2M | $53.5M | — |
| Cost of revenue | $79.5M | $77.8M | $80.7M | $73.5M | $53.6M | $30.8M | $20.2M | $15.1M | $9.1M | — |
| Gross profit | $291.0M | $317.1M | $411.3M | $380.8M | $304.0M | $175.3M | $136.1M | $85.1M | $44.4M | — |
| R&D | $13.3M | $13.1M | $13.4M | $12.4M | $9.5M | $9.5M | $5.7M | $4.2M | $2.6M | — |
| SG&A | $11.7M | $10.0M | $9.2M | $9.9M | $8.4M | $6.4M | $4.0M | $4.8M | $4.4M | — |
| Total operating expenses | $205.6M | $204.5M | $215.7M | $182.9M | $136.5M | $102.4M | $76.5M | $61.6M | $35.5M | — |
| Operating income | $85.4M | $112.5M | $195.7M | $197.9M | $167.5M | $72.8M | $59.6M | $23.5M | $8.9M | — |
| Interest expense | — | — | $4.7M | $1.2M | $1.2M | — | — | — | — | — |
| Pre-tax income | $110.3M | $143.5M | $217.3M | $201.5M | $168.0M | $76.1M | $62.0M | $23.6M | $9.8M | — |
| Income tax | $16.5M | $37.8M | $19.3M | $39.9M | $2.9M | $1.1M | $883.0K | $1.3M | $980.0K | — |
| Net income | $93.8M | $181.3M | $197.9M | $161.5M | $165.0M | $75.0M | $61.1M | $22.4M | $8.8M | — |
| EPS, basic | 1.45 | 2.29 | 2.37 | 1.96 | 2.03 | 1.04 | 1.04 | 0.82 | 0.29 | — |
| EPS, diluted | 1.43 | 2.25 | 2.30 | 1.89 | 1.92 | 0.89 | 0.80 | 0.62 | 0.26 | — |
| Shares, diluted (wtd. avg.) | 65.4M | 80.6M | 86.0M | 85.4M | 86.0M | 84.2M | 76.1M | 35.0M | 29.7M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $302.5M | $155.3M | $144.4M | $97.5M | $68.1M | $68.9M | $44.7M | $24.7M | $17.6M | $6.7M |
| Short-term investments | $83.6M | $267.7M | $373.6M | $374.6M | $294.5M | $142.0M | $120.1M | $26.5M | — | — |
| Receivables | $43.5M | $36.3M | $42.4M | $27.0M | $20.2M | $10.5M | $6.6M | $7.0M | — | — |
| Inventory | $74.0M | $59.5M | $45.1M | $39.9M | $21.0M | $15.0M | $9.4M | $7.0M | — | — |
| Total current assets | $698.6M | $714.5M | $845.3M | $629.4M | $470.1M | $289.6M | $213.2M | $77.8M | — | — |
| Property, plant and equipment | $2.6M | $2.3M | $2.4M | $2.3M | $1.4M | $982.0K | $935.0K | $544.0K | — | — |
| Total assets | $766.4M | $785.7M | $863.3M | $644.4M | $478.5M | $295.8M | $218.4M | $81.1M | — | — |
| Accounts payable | $17.9M | $13.8M | $14.0M | $16.2M | $8.8M | $6.4M | $3.7M | $4.5M | — | — |
| Total current liabilities | $70.7M | $69.9M | $64.1M | $82.0M | $51.9M | $35.0M | $32.5M | $29.4M | — | — |
| Total liabilities | $83.2M | $81.9M | $75.9M | $89.8M | $62.7M | $40.3M | $38.6M | $34.2M | — | — |
| Retained earnings | $968.5M | $874.7M | $693.4M | $495.5M | $334.0M | $169.0M | $94.0M | $33.0M | — | — |
| Total equity | $683.2M | $703.8M | $787.4M | $554.6M | $415.8M | $255.5M | $179.8M | $44.7M | $19.5M | $8.9M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $85.3M | $132.7M | $176.8M | $181.6M | $174.9M | $79.2M | $62.2M | $36.9M | $14.6M | — |
| Depreciation and amortisation | $695.0K | $728.0K | $623.0K | $680.0K | $517.0K | $416.0K | $302.0K | $184.0K | $204.0K | — |
| Stock-based compensation | $11.1M | $16.6M | $23.6M | $24.5M | $12.0M | $12.8M | $1.6M | $1.9M | $2.4M | — |
| Capital expenditure | $972.0K | $669.0K | $705.0K | $1.6M | $939.0K | $463.0K | $693.0K | $381.0K | $189.0K | — |
| Investing cash flow | $186.0M | $162.2M | -$136.1M | -$109.5M | -$160.1M | -$43.3M | -$112.5M | -$29.7M | -$5.7M | — |
| Financing cash flow | -$126.1M | -$282.8M | $5.5M | -$41.1M | -$15.0M | -$12.4M | $70.2M | $186.0K | $1.8M | — |
| Buybacks | $127.4M | $285.4M | $0 | $42.6M | $35.4M | $17.2M | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001178913-26-000377.
Plot the figures US dollars
Income statement
Revenue
Cost of revenue
Gross profit
R&D
SG&A
Total operating expenses
Operating income
Interest expense
Pre-tax income
Income tax
Net income
EPS, basic
EPS, diluted
Shares, diluted (wtd. avg.)
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | $53.5M | $100.2M | $156.4M | $206.1M | $357.6M | $454.3M | $492.0M | $394.8M | $370.5M |
| Gross profit | — | $44.4M | $85.1M | $136.1M | $175.3M | $304.0M | $380.8M | $411.3M | $317.1M | $291.0M |
| Net income | — | $8.8M | $22.4M | $61.1M | $75.0M | $165.0M | $161.5M | $197.9M | $181.3M | $93.8M |
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