News

InMode’s Revenue Guidance Revised Amid Economic Slowdown and Financing Constraints

1 Mins read

Shares of InMode have taken a hit as the company revises its full-year revenue guidance in response to current economic conditions and increasing limitations on financing. This downturn has resulted in a 14% decline in the stock, currently trading at $24.14. Over the course of the year, shares have already fallen by 22%.

The medical technology company, based in Israel, announced on Thursday that it now predicts its revenue for 2023 to be between $500 million and $510 million. This represents a decline from its previous estimate of $530 million to $540 million.

Furthermore, InMode anticipates third-quarter earnings to range from 59 cents to 60 cents per share, with sales totaling $122.8 million to $123 million. Both figures are expected to fall short of analyst forecasts.

The revised outlook is attributed to delayed purchasing decisions during the third quarter, largely influenced by decreased aesthetic activity over the summer months. In addition, InMode is grappling with financing constraints in the realm of medical equipment, which has negatively impacted its sales activity.

Overall, the company is navigating through challenging circumstances, necessitating revisions to its projections.

Related posts
News

Amid Challenges, Reforms, 15 Insurance Companies Declared N142.2bn PBT in 2024

4 Mins read
Despite challenges and the ongoing reforms, 15 insurance companies listed on the Nigerian Exchange Limited (NGX), declared N142.2 billion profit before tax…
News

Westgold Resources: FY25 Guidance Update

4 Mins read
PERTH, Western Australia, February 3, 2025 /CNW/ – Westgold Resources Limited (ASX: WGX) (TSX: WGX) (Westgold or the Company) provides this update…
News

Ripple CTO David Schwartz Warns XRP Users About Phishing Scam Targeting Coinbase

2 Mins read
XRP rises to $2.36 before dipping slightly amid ongoing crypto market activity David Schwartz, Ripple’s Chief Technology Officer (CTO), has warned his…

Leave a Reply

Your email address will not be published. Required fields are marked *

86 − = 79