InMode Ltd. (NASDAQ:INMD) reported fourth-quarter earnings and revenue on Tuesday that came in ahead of expectations, but its weaker-than-anticipated guidance for 2026 weighed on investor sentiment.
Shares of the medical technology company fell 3.37% in pre-market trading following the announcement.
For the quarter, InMode delivered adjusted earnings of $0.46 per share, topping the analyst consensus of $0.42. Revenue reached $103.85 million, beating estimates of $101.7 million and rising 6% from $97.9 million in the same period last year.
Despite the solid quarterly performance, the stock moved lower after the company issued full-year 2026 guidance below Wall Street forecasts. InMode expects adjusted earnings per share of $1.43 to $1.48 on revenue of $365 million to $375 million. Analysts had been looking for $1.64 in EPS and $373.9 million in revenue.
“While conditions across our industry remain challenging, we are seeing early signs of stabilization,” said Moshe Mizrahy, Chief Executive Officer of InMode. “While the global uncertainties, particularly in North America, continue to weigh on overall demand, and the industry has yet to fully rebound, we are encouraged by the initial growth in Europe.”
For full-year 2025, InMode reported revenue of $370.5 million, down 6% year over year. Offsetting some of that pressure, consumables and service revenue increased 3% to $81.4 million compared with 2024.
Chief Financial Officer Yair Malca highlighted strong momentum in Europe. “Our European operations achieved record revenue in the fourth quarter, reflecting continued momentum across the region and strong execution by our teams,” Malca said.
InMode ended 2025 with a robust cash balance of $555.3 million and returned $127.4 million to shareholders through share repurchases during the year.
Looking ahead, the company plans to introduce two new laser-based platforms in 2026, which management believes will help reinforce its long-term competitive position.