According to a recent Yahoo news report, InMode Ltd., a leading global provider of innovative and award-winning medical technologies, looks bullish in markets and has grown 15% from its Initial Public Offering (IPO) base in August. The report says that IPOs are typically volatile, and it is worth waiting so they have a significant amount of history. A few other new issues out there are not performing quite as well, but InMode is in the medical sector, and is experiencing amazing earnings and sales growth. Some of the other medical device companies are also performing well.
As reported by Bloomberg, newly public InMode Ltd’s shares soared 25% on August 14, 2019. The company had announced the international pop icon Paula Abdul as a brand ambassador for its alternatives to cosmetic surgery, and this may be a major reason for the increased interest in InMode. Paula Abdul had agreed to join the Skin-Tightening Company as their brand ambassador to share her positive experience with the company’s innovative technologies. From the Yahoo report, we can infer that InMode’s collaboration with pop icon Paula Abdul has definitely proved beneficial to the company, because InMode came public only recently in a $14 IPO.
Another report from Streetwise says the shares of InMode rose 25% even as the broader stock market dropped. According to them, InMode Ltd reported their second quarter earnings for the period ending June 30, 2019. In a separate release, InMode also announced the appointment of pop icon Paula Abdul as a brand ambassador which attracted a lot of public attention. The company reported
- Record revenue of $38.8 million in the second quarter of 2019, an increase of 55% over 2018 2nd quarter
- Net income of $15.8 billion or $0.45 per diluted share in the second quarter of 2019, compared to $7.6 million or $0.21 per diluted share in Q2/18 (apart from noticeable improvements in gross margins and operating margins)
- A total cash position of $82.8 million including cash, cash equivalents, marketable securities and deposits, excluding the $70 million proceeds raised in InMode’s IPO.
This medical technology company is a leading global provider of innovative, energy-based solutions that offer cutting edge medical devices for minimally-invasive and non-invasive procedures. They provide amazing results for the patient and the practice. InMode’s technological advancements began over two decades ago with state-of-the-art light, laser, and radiofrequency devices invented by leading doctors and scientists, who essentially launched and shaped the industry. Their technology continues that legacy to provide superior satisfaction for both the patient and the practice. InMode’s CEO and chairman Moshe Mizrahy said that they were pleased with their second quarter results that are consistent with both their reported expectations and the positive trends they were continuing to see in their business.
Paula Abdul underwent treatment using InMode’s BodyTite and FaceTite technology for her arm and lower face as an alternative to traditional cosmetic surgery. Plastic surgeon Spero Theodorou MD of bodySCULPT in NYC and InMode’s Chief Medical Officer who is responsible for the development of all InMode procedures, clinical studies and training, discussed the choice. He said, “Paula is an excellent candidate for InMode’s innovative technology using Radio-Frequency (RF) to provide a natural tighter appearance. She exercised regularly, was healthy but had some areas that troubled her due to past injuries and the effects of aging.”
Excited by her results, Paula wants to share what the BodyTite/FaceTite procedure did for her and can do for others. She is happy to be InMode’s brand ambassador because she has experienced good results with the company’s treatments that enabled her to restore a sleeker, more youthful look without invasive surgery and general anesthesia.
Leading NYC plastic surgeons Drs. Spero Theodorou and Christopher T. Chia of bodySCULPT in NYC are inventors of BodyTite on Arms, a Scarless arm lift surgery in NYC is an innovative technique used to enhance the contour of your arms under local anesthesia to tighten and remove the excess skin under the arms, without leaving any scars.
Similarly, invented by Dr. Theodorou in conjunction with InMode, two powerful technologies from InMode – FaceTite and Morpheus8 are combined for a breakthrough procedure EmbraceRF that uses RF energy to get rid of unwanted fat in the lower face. This unique one-time facial rejuvenation solution effectively treats the subdermal adipose tissue of the face. The procedure treats skin laxity and excess fat accumulation in the face and neck area caused by factors such as aging, genetics, weight gain and loss, sun exposure and gravity – without surgery.
President of InMode North America, Shakil Lakhani, says, “We are thrilled to announce a strong and powerful woman like Paula representing our brand, who has an ageless presence and embodies InMode’s commitment to enhance beauty and well-being. This collaboration will ensure a greater audience who will be aware of the benefits of InMode’s technology on a national and global level.”