Israeli medical company Inmode (INMD.US) is trading down more than 10% today, after it lowered its full-year guidance for 2023, citing stronger-than-expected pressure from macroeconomic headwinds.
- As a result, the company sees lower interest in services in its proprietary medical platform. Inmode now expects $2.47 to $2.5 in annual earnings per share, versus $2.53 to $2.57 previously. Revenues are expected to be in the range of $485 to $495 million vs. $500 to $510 million estimated previously.
- The company maintains very high net margins, which stood at 36% in Q3, with close to zero debt. Since October 7, shares have plunged due to uncertainty surrounding the conflict in Israel and a broader escalation in the Middle East. The company itself reported that its supply chains, workers and production are safe and the local Israeli market accounts for less than 1% of its total sales.
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Source: xStation5
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