Inmode Ltd · Q2 2025 earnings

Briefing

InMode Q2 revenue rises 11% to $95.6M with 80% gross margins as Europe hits record sales

InMode Ltd. reported Q2 2025 revenues of $95.6 million, up from $86.4 million in Q2 2024 (excluding $16.2 million in prior-year pre-orders). GAAP net income was $26.7 million ($0.42 per diluted share) versus $23.8 million ($0.28) a year ago, and non-GAAP net income was $30.1 million ($0.47 per share). Gross margin held steady at 80% GAAP with operating margin of 24% GAAP and 28% non-GAAP. CEO Moshe Mizrahy noted persistent U.S. macro headwinds offset by record European sales, while CFO Yair Malca highlighted a $510.7 million cash position and potential 2-3% gross margin impact from 10% U.S. tariffs.

• Q2 revenue of $95.6M grew 11% YoY on a comparable basis; consumables and service revenue of $19.8M declined 6%
• GAAP net income $26.7M ($0.42 EPS) and non-GAAP net income $30.1M ($0.47 EPS) with 80% gross margins maintained
• Europe reached record quarterly sales, partially offsetting softer U.S. demand from cautious consumer spending
• Cash and investments totaled $510.7M; company repurchased $27.5M of shares during the quarter
• Full-year 2025 outlook lowered to $365-375M revenue from prior $395-405M; non-GAAP EPS guided to $1.55-1.59

Headline financials

Revenue & EPS history

For full year 2025, InMode expects revenue of $365-375 million (down from prior $395-405M), non-GAAP gross margin of 78-80%, non-GAAP operating income of $93-98 million, and non-GAAP EPS of $1.55-1.59.