InMode Guides Q3 Revenue to $91.8M-$92M, Below Q2's $95.6M
INMD is trading near its 52-week low of $12.72 (12% above the low).
Summary
InMode guided Q3 revenue to $91.8M-$92M, down from Q2's $95.6M and below the $95.2M-$95.4M preliminary range it gave in July. The sequential decline suggests weakening demand for its aesthetic devices. This comes amid an ongoing takeover battle, with the CEO-led buyout group's $16.20/share offer having expired on September 15. The lower revenue outlook may pressure the stock and complicate the take-private negotiations.
At the time of this announcement, INMD was trading at $14.30 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $822.9M. The 52-week trading range was $12.72 to $16.67. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.