InMode (INMD) Q1 2026 earnings summary

Executive summary

• Q1 2026 revenue reached $82 million, up 5% year-over-year, with significant U.S. contribution and early signs of stabilization.

• Non-GAAP net income was $15.9 million ($0.25 per diluted share); GAAP net income was $11.6 million ($0.18 per share), both down from Q1 2025.

• Global operations span 103 countries, supported by a direct sales force of 298 representatives and a strong brand in minimally-invasive aesthetic and wellness solutions.

• New North American leadership and unified structure implemented, with ongoing organizational restructuring in North America and Europe.

• CFO Yair Malca and Board Chair Dr. Michael Anghel resigned, with Dr. Hadar Ron appointed Interim Chair.

Financial highlights

• Q1 2026 revenue was $82 million, up 5% year-over-year; non-GAAP gross margin was 75% (down from 79%); GAAP gross margin was 75% (down from 78%).

• Non-GAAP net income was $15.9 million; GAAP net income was $11.6 million.

• Cash, equivalents, and marketable securities totaled $537.2 million as of March 31, 2026.

• Share repurchases totaled $127.4 million in 2025 and $52.7 million year-to-date in 2026, representing 3.86 million shares.

• Operating cash flow for Q1 2026 was $15.4 million.

Outlook and guidance

• FY 2026 revenue guidance: $365–$375 million.

• Non-GAAP gross margin guidance: 74%–76%.

• Non-GAAP operating income guidance: $73–$78 million; non-GAAP EPS guidance: $1.33–$1.38.

• Corporate tax rate expected to remain at 7.5–10% due to Israeli tax benefits.

• Gross margin expected to remain stable at 74–75% through the year.