(RTTNews) - InMode Ltd. (INMD), which is developing devices that use minimally invasive radio-frequency technology for aesthetic medical procedures, has been hitting new highs.
The Company's non-invasive and minimally invasive technologies provide solutions for contouring, skin treatment, acne, hair removal, anti-aging, women's health & wellness, pigment, and vascular issues.
Since 2010, the Company has launched six product platforms namely:
-- BodyTite for use in dermatological and general surgical procedures for electrocoagulation and hemostasis. --Optimas for use in dermatological procedures requiring ablation and resurfacing of the skin. -- Votiva indicated for the use in dermatologic and general surgical procedures for electrocoagulation and hemostasis. -- Contoura indicated for the treatment of relief of minor muscle aches and pains, muscle spasms, temporary improvement of blood circulation; and temporary reduction in the appearance of cellulite. -- Triton, which is indicated for hair removal and permanent hair reduction and -- EmbraceRF indicated for use in dermatological and general surgical procedures for electrocoagulation and hemostasis.
By the end of this year, the Company expects to launch the following three new product platforms:
** Evolve for body skin tightening, which received FDA clearance in June 2019, is expected to be introduced to the market during the second half of 2019. ** CelluTit for the treatment of cellulite appearance, cleared by the FDA, is slated for launch during the fourth quarter of 2019, and ** Evoke product platform for face and neck skin tightening is under FDA review.
InMode sells its products in the United States, Europe, Argentina, Australia, Brazil, Canada, China, Colombia, the Commonwealth of Independent States, Israel, Mexico, Panama, Philippines, Russia, South Korea, Taiwan and Thailand.
InMode has significantly improved its revenue and net income over the years.
|Revenue||$53.46 Mln||$100.16 Mln||$69.35 Mln|
|Gross Profit||$44.4 Mln||$85.10 Mln||$60.20 Mln|
|Net Income||$8.82 Mln||$22.36 Mln||$25.99 Mln|
The Company ended June 30, 2019, with total cash of $82.8 million. This excludes proceeds of approximately $70.0 million raised in its initial public offering.
The number of minimally invasive aesthetic procedures has grown nearly 200 percent since 2000, according to the American Society of Plastic Surgeons. Given the increasing elderly population, the growing global obesity epidemic, and the rising aesthetic consciousness, among other things, the future of medical aesthetics market in which InMode is also one of the players, is nothing but bright.
InMode went public on the Nasdaq Global Select Market on August 8, 2019, under the symbol "INMD", offering its shares at a price of $14 each. INMD has thus hit a low of $13.06 and a high of $27.97.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.