InMode (INMD) Q2 2026 earnings summary

Executive summary

• Q2 2026 GAAP revenues were $95.6 million, flat compared to Q2 2025, with stability in U.S. capital equipment and record revenue from Asia.

• Consumables and service revenues grew 13% year-over-year to $22.3 million, mainly from international sales.

• Management expects continued stabilization for the remainder of 2026 and is focused on long-term growth investments.

Financial highlights

• Q2 2026 GAAP net income was $17.1 million ($0.29 per diluted share), down from $26.7 million ($0.42) in Q2 2025.

• Non-GAAP net income was $20.8 million ($0.35 per diluted share), down from $30.1 million ($0.47) year-over-year.

• GAAP gross margin declined to 75% from 80% and GAAP operating margin to 13% from 24% year-over-year.

• Cash, equivalents, and short-term investments totaled $501.1 million as of June 30, 2026.

• Repurchased 6.38 million shares for $87.8 million under the share repurchase program.

Outlook and guidance

• FY 2026 revenue expected between $365 million and $375 million.

• Non-GAAP gross margin projected at 74–76%; non-GAAP operating income between $68 million and $73 million.

• Non-GAAP EPS forecasted at $1.29–$1.34.