Exhibit 99.1

InMode Reports Second Quarter 2023 Financial Results; Record Quarterly Revenue of $136.1M

Represents 20% Year-Over-Year Growth

YOKNEAM, Israel, July 27, 2023- InMode Ltd. (Nasdaq: INMD) (“InMode”), a leading global provider of innovative medical technologies, today announced its consolidated financial results for the second quarter ended June 30, 2023.

Second Quarter 2023 Highlights:

●	Record quarterly revenue of $136.1 million, an increase of 20% compared to the second quarter of 2022. InMode’s proprietary surgical technology platforms engaged in minimally invasive and subdermal ablative treatments represented 81% of quarterly revenues, while 9% came from InMode’s hands-free platforms and 10% from InMode’s traditional laser and non-invasive RF platforms.

●	Record GAAP net income of $55.7 million, compared to $44.0 million in the second quarter of 2022; *non-GAAP net income of $62.2 million, compared to $50.4 million in the second quarter of 2022.

●	Record GAAP diluted earnings per share of $0.65, compared to $0.52 in the second quarter of 2022; *non-GAAP diluted earnings per share of $0.72, compared to $0.59 in the second quarter of 2022.

●	Record quarterly revenues from consumables and service of $21.6 million, an increase of 44% compared to the second quarter of 2022.

●	Total cash position of $629.4 million as of June 30, 2023, including cash and cash equivalents, marketable securities, and short-term bank deposits.

U.S. GAAP Results (U.S. dollars in thousands, except for per share data)
	Q2 2023	Q2 2022
Revenues	$136,081	$113,547
Gross Margins	84%	83%
Net Income	$55,729	$44,048
Earnings per Diluted Share	$0.65	$0.52
*Non-GAAP Results (U.S. dollars in thousands, except for per share data)
	Q2 2023	Q2 2022
Gross Margins	84%	84%
Net Income	$62,234	$50,401
Earnings per Diluted Share	$0.72	$0.59

*Please refer to “Use of Non-GAAP Financial Measures” below for important information about non-GAAP financial measures. A reconciliation between U.S. GAAP and non-GAAP Statement of Income is provided following the financial statements that are included in this release. Non-GAAP results exclude share-based compensation adjustments.

Management Comments

“We are pleased to report a record quarter with revenue of $136.1 million, as sales from our platforms and disposables were the strongest they’ve ever been,” said Moshe Mizrahy, Chairman and Chief Executive Officer. “Our commitment to innovation supports our growth and leads to a solid brand recognition within the aesthetics industry.”

Shakil Lakhani, President of InMode North America, commented, “Once again, we saw an increase in consumable and platform sales in the second quarter. Revenue from consumables and service for the second quarter grew nearly 44% year-over-year and reached a record level.”

“InMode’s Envision platform, which offers a full periorbital treatment, continued to perform well in Q2, as we gained market traction stemming from the soft launch in Canada last year,” said Dr. Spero Theodorou, Chief Medical Officer.

Second Quarter 2023 Financial Results

Total revenues for the second quarter of 2023 reached $136.1 million, an increase of 20% compared to the second quarter of 2022.

“We are happy to deliver another strong quarter, with record revenue and EPS in Q2,” said Yair Malca, Chief Financial Officer. “Our significant international sales growth reached a record level of $49.5 million, and along with the expanded use of InMode’s platforms, we were able to increase our full-year guidance.”

GAAP gross margin for the second quarter of 2023 was 84% compared to a gross margin of 83% 2022. *Non-GAAP gross margin for the second quarter of 2023 and 2022 was 84%.

GAAP operating margin for the second quarter of 2023 was 42%, compared to an operating margin of 43% in the second quarter of 2022. *Non-GAAP operating margin for the second quarter of 2023 was 47% compared to 49% for the second quarter of 2022. This slight decrease was primarily attributable to higher sales and marketing expenses, mainly because of the addition of new sales representatives, higher travel expenses, as well as investment in direct-to-consumer advertising campaigns and hosting in-person events to support the company's growth projections.

InMode reported GAAP net income of $55.7 million, or $0.65 per diluted share, in the second quarter of 2023, compared to $44.0 million, or $0.52 per diluted share, in the second quarter of 2022. On a *non-GAAP basis, InMode reported net income of $62.2 million, or $0.72 per diluted share, in the second quarter of 2023, compared to $50.4 million, or $0.59 per diluted share, in the second quarter of 2022.

2023 Financial Outlook

Management provided an outlook for the full year of 2023 ending December 31, 2023. Based on current estimates, management expects:

●	Revenue between $530 million and $540 million

●	*Non-GAAP gross margin between 83% and 85%

●	*Non-GAAP income from operations between $238 million and $243 million

●	*Non-GAAP earnings per diluted share between $2.62 and $2.66

This outlook is not a guarantee of future performance and stockholders should not rely on such forward-looking statements. See “Forward-Looking Statements” for additional information.

Use of Non-GAAP Financial Measures

In addition to InMode’s operating results presented in accordance with GAAP, this release contains certain non-GAAP financial measures including non-GAAP net income, non-GAAP earnings per diluted share, and non-GAAP operating margin. Because these measures are used in InMode’s internal analysis of financial and operating performance, management believes they provide investors with greater transparency of its view of InMode’s economic performance. Management also believes the presentation of these measures, when analyzed in conjunction with InMode’s GAAP operating results, allows investors to more effectively evaluate and compare InMode’s performance to that of its peers, although InMode’s presentation of its non-GAAP measures may not be strictly comparable to the similarly titled measures of other companies. Schedules reconciling each of these non-GAAP financial measures are provided as a supplement to this release.

Conference Call Information

Mr. Moshe Mizrahy, Chairman and Chief Executive Officer, Dr. Michael Kreindel, Co-Founder and Chief Technology Officer, Mr. Yair Malca, Chief Financial Officer, Mr. Shakil Lakhani, President of North America, and Dr. Spero Theodorou, Chief Medical Officer, will host a conference call today, July 27, 2023, at 8:30 a.m. Eastern Time to discuss the second quarter 2023 financial results.

The Company encourages participants to pre-register for the conference call using the following link:

https://dpregister.com/sreg/10180180/f9c680d37c.

Callers will receive a unique dial-in number upon registration, which enables immediate access to the call. Participants may pre-register at any time, including up to and after the call start time.

For callers who opt out of pre-registration, please dial one of the following teleconferencing numbers. Please begin by placing your call 10 minutes before the conference call commences. If you are unable to connect using the toll-free number, please try the international dial-in number.

U.S. Toll-Free Dial-in Number: 1-833-316-0562

Israel Toll- Free Dial-in Number: 1-80-921-2373

International Dial-in Number: 1-412-317-5736

Webcast URL: https://event.choruscall.com/mediaframe/webcast.html?webcastid=hAHIxqyf

At:

8:30 a.m. Eastern Time

5:30 a.m. Pacific Time

3:30 p.m. Israel Time

The conference call will also be webcast live from a link on InMode's website at https://inmodemd.com/investors/events-presentations/. A replay of the conference call will be available from July 27, 2023, at 12 p.m. Eastern Time to Aug 10, 2023, at 11:59 p.m. Eastern Time. To access the replay, please dial one of the following numbers:

Replay Dial-in U.S TOLL-FREE: 1-877-344-7529

Replay Dial-in Canada TOLL-FREE: 855-669-9658

Replay Dial-in TOLL/INTERNATIONAL: 1-412-317-0088

Replay Pin Number: 3384563

To access the replay using an international dial-in number, please select the link below:

https://services.choruscall.com/ccforms/replay.html

A replay of the conference call will also be available for 90 days on InMode's website at https://inmodemd.com/investors/.

About InMode

InMode is a leading global provider of innovative medical technologies. InMode develops, manufactures and markets devices harnessing novel radio frequency (“RF”) technology. InMode strives to enable new emerging surgical procedures as well as improve existing treatments. InMode has leveraged its medically accepted minimally invasive RF technologies to offer a comprehensive line of products across several categories for plastic surgery, gynecology, dermatology, otolaryngology, and ophthalmology. For more information about InMode, please visit www.inmodemd.com.

Forward-Looking Statements

The information in this press release includes forward-looking statements within the meaning of the federal securities laws. These statements generally relate to future events or InMode’s future financial or operating performance, including the future performance described above under the heading titled “2023 Financial Outlook.” Actual outcomes and results may differ materially from what is expressed or forecast in such forward-looking statements. In some cases, you can identify these statements because they contain words such as "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "predict," "project," "will," "would" and similar expressions that concern our expectations, strategic plans or intentions. Forward-looking statements are based on management's current expectations and assumptions, and are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict, including with respect to the impact of the COVID-19 global outbreak. Consequently, actual results could differ materially from those indicated in these forward-looking statements. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements included in InMode’s Annual Report on Form 20-F filed with the Securities and Exchange Commission on February 14, 2023, as well as risk factors relating to the COVID-19 global outbreak and our future public filings. InMode undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release. You are cautioned not to place undue reliance on these forward-looking statements, which pertain only as of the date of this press release.

Company Contact:

Yair Malca

Chief Financial Officer

Phone: (949) 305-0108

Email: Yair.Malca@inmodemd.com

Investor Relations Contact:

Miri Segal

MS-IR LLC

Phone: (917) 607-8654

Email: ir@inmodemd.com

INMODE LTD.

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(U.S. dollars in thousands, except for per share data)

(Unaudited)

	Three months ended June 30,					Six months ended June 30,
	2023		2022			2023		2022
REVENUES		136,081		113,547			242,155		199,468
COST OF REVENUES		22,054		18,946			40,308		33,718
GROSS PROFIT		114,027		94,601			201,847		165,750
OPERATING EXPENSES:
Research and development		3,567		3,183			6,669		5,998
Sales and marketing		51,059		39,653			92,772		70,502
General and administrative		2,392		2,562			4,400		5,039
TOTAL OPERATING EXPENSES		57,018		45,398			103,841		81,539
INCOME FROM OPERATIONS		57,009		49,203			98,006		84,211
Finance income (expense), net		4,445		(918	)		7,734		(539	)
INCOME BEFORE TAXES		61,454		48,285			105,740		83,672
INCOME TAXES		5,725		4,237			9,506		8,649
NET INCOME		55,729		44,048			96,234		75,023

NET INCOME PER SHARE:
Basic		0.67		0.54			1.16		0.91
Diluted		0.65		0.52			1.12		0.88
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING USED IN COMPUTATION OF NET INCOME PER SHARE (in thousands)
Basic		83,405		82,216			83,280		82,590
Diluted		85,650		84,663			85,579		85,236

INMODE LTD.

CONDENSED CONSOLIDATED BALANCE SHEETS

(U.S. dollars in thousands, except for per share data)

(Unaudited)

	June 30, 2023		December 31, 2022
Assets
CURRENT ASSETS:
Cash and cash equivalents		159,855		97,540
Marketable securities		400,464		374,589
Short-term bank deposits		69,094		75,254
Accounts receivable, net of allowance for doubtful accounts		32,568		26,997
Other receivables		18,656		15,094
Inventories		38,568		39,897
TOTAL CURRENT ASSETS		719,205		629,371
NON-CURRENT ASSETS:
Accounts receivable, net of allowance for doubtful accounts		3,871		3,973
Deferred income tax asset, net		2,350		3,094
Operating lease right-of-use assets		5,595		5,073
Property and equipment, net		2,463		2,298
Other investments		600		600
TOTAL NON-CURRENT ASSETS		14,879		15,038
TOTAL ASSETS		734,084		644,409
Liabilities and shareholders’ equity
CURRENT LIABILITIES:
Accounts payable		13,295		16,242
Contract liabilities		11,098		13,798
Other liabilities		36,340		51,980
TOTAL CURRENT LIABILITIES		60,733		82,020
NON-CURRENT LIABILITIES:
Contract liabilities		3,038		3,959
Other liabilities		533		303
Operating lease liabilities		3,622		3,509
TOTAL NON-CURRENT LIABILITIES		7,193		7,771
TOTAL LIABILITIES		67,926		89,791

TOTAL SHAREHOLDERS’ EQUITY		666,158		554,618
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY		734,084		644,409

INMODE LTD.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(U.S. dollars in thousands, except for per share data)

(Unaudited)

	Three months ended June 30,						Six months ended June 30,
	2023			2022			2023			2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income		55,729			44,048			96,234			75,023
Adjustments required to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		184			155			372			293
Share-based compensation expenses		6,505			6,353			10,714			9,447
Allowance for doubtful accounts		261			142			239			352
Loss on marketable securities, net		-			23			-			37
Finance expenses (income), net		(1,197	)		851			(2,709	)		941
Deferred income taxes, net		43			169			62			147
Changes in operating assets and liabilities:
Increase in accounts receivable		(7,949	)		(8,247	)		(5,708	)		(4,294	)
Increase in other receivables		(3,791	)		(398	)		(4,020	)		(1,593	)
Decrease (increase) in inventories		2,243			(4,660	)		1,329			(8,734	)
Increase (decrease) in accounts payable		1,308			2,292			(2,947	)		3,054
Increase (decrease) in other liabilities		7,211			4,105			(15,832	)		(770	)
Increase (decrease) in contract liabilities		(7,547	)		2,148			(3,621	)		4,931
Net cash provided by operating activities		53,000			46,981			74,113			78,834
CASH FLOWS FROM INVESTING ACTIVITIES:
Investment in short-term deposits		(100,000	)		(22,500	)		(106,000	)		(45,611	)
Proceeds from short-term deposits		106,500			23,000			112,500			43,000
Purchase of fixed assets		(194	)		(561	)		(535	)		(860	)
Purchase of marketable securities		(54,190	)		(17,545	)		(172,542	)		(38,754	)
Proceeds from sale of marketable securities		-			1,008			-			2,002
Proceeds from maturity of marketable securities		60,891			14,224			152,028			25,157
Net cash provided by (used in) investing activities		13,007			(2,374	)		(14,549	)		(15,066	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repurchase of ordinary shares		-			-			-			(42,637	)
Exercise of options		827			204			2,500			365
Net cash provided by (used in) financing activities		827			204			2,500			(42,272	)
EFFECT OF EXCHANGE RATE CHANGES ON CASH		60			(1,077	)		251			(1,228	)
NET INCREASE IN CASH AND CASH EQUIVALENTS		66,894			43,734			62,315			20,268

CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD		92,961			44,670			97,540			68,136
CASH AND CASH EQUIVALENTS AT END OF PERIOD		159,855			88,404			159,855			88,404

INMODE LTD.

CONDENSED CONSOLIDATED FINANCIAL HIGHLIGHTS

(U.S. dollars in thousands, except for per share data)

(Unaudited)

	Three months ended June 30,									Six months ended June 30,
	2023					2022				2023				2022
Revenues by Category:

Capital Equipment revenues - United States		73,828	54	%	62,960		56	%	123,579		51	%	107,720		54	%
Capital Equipment revenues - International		40,635	30	%	35,560		31	%	77,008		32	%	62,743		31	%
Total Capital Equipment revenues		114,463	84	%	98,520		87	%	200,587		83	%	170,463		85	%
Consumables and service revenues		21,618	16	%	15,027		13	%	41,568		17	%	29,005		15	%
Total Net Revenue		136,081	100	%	113,547		100	%	242,155		100	%	199,468		100	%

	Three months ended June 30,												Six months ended June 30,
	2023						2022						2023						2022
	%						%						%						%
	United States		International		Total		United States		International		Total		United States		International		Total		United States		International		Total
Revenues by Technology:
Minimal-Invasive		86		73		81		84		74		80		88		74		83		84		72		79
Hands-Free		11		6		9		14		5		11		10		6		8		13		6		11
Non-Invasive		3		21		10		2		21		9		2		20		9		3		22		10
		100		100		100		100		100		100		100		100		100		100		100		100

INMODE LTD.

RECONCILIATION OF GAAP CONDENSED CONSOLIDATED STATEMENTS OF

INCOME TO NON-GAAP CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(U.S. dollars in thousands, except for per share data)

(Unaudited)

	Three months ended June 30, 2023							Three months ended June 30, 2022
	GAAP		Share Based Compensation			Non-GAAP		GAAP			Share Based Compensation			Non-GAAP
REVENUES		136,081		-			136,081		113,547			-			113,547
COST OF REVENUES		22,054		(547	)		21,507		18,946			(496	)		18,450
GROSS PROFIT		114,027		547			114,574		94,601			496			95,097
OPERATING EXPENSES:
Research and development		3,567		(757	)		2,810		3,183			(866	)		2,317
Sales and marketing		51,059		(4,731	)		46,328		39,653			(4,459	)		35,194
General and administrative		2,392		(470	)		1,922		2,562			(532	)		2,030
TOTAL OPERATING EXPENSES		57,018		(5,958	)		51,060		45,398			(5,857	)		39,541
INCOME FROM OPERATIONS		57,009		6,505			63,514		49,203			6,353			55,556
Finance income (expense), net		4,445		-			4,445		(918	)		-			(918	)
INCOME BEFORE TAXES		61,454		6,505			67,959		48,285			6,353			54,638
INCOME TAXES		5,725		-			5,725		4,237			-			4,237
NET INCOME		55,729		6,505			62,234		44,048			6,353			50,401

NET INCOME PER SHARE:
Basic		0.67					0.75		0.54						0.61
Diluted		0.65					0.72		0.52						0.59
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING USED IN COMPUTATION OF NET INCOME PER SHARE (in thousands)
Basic		83,405					83,405		82,216						82,216
Diluted		85,650					86,243		84,663						85,366

INMODE LTD.

RECONCILIATION OF GAAP CONDENSED CONSOLIDATED STATEMENTS OF

INCOME TO NON-GAAP CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(U.S. dollars in thousands, except for per share data)

(Unaudited)

	Six months ended June 30, 2023							Six months ended June 30, 2022
	GAAP		Share Based Compensation			Non-GAAP		GAAP			Share Based Compensation			Non-GAAP
REVENUES		242,155		-			242,155		199,468			-			199,468
COST OF REVENUES		40,308		(901	)		39,407		33,718			(810	)		32,908
GROSS PROFIT		201,847		901			202,748		165,750			810			166,560
OPERATING EXPENSES:
Research and development		6,669		(1,258	)		5,411		5,998			(1,391	)		4,607
Sales and marketing		92,772		(7,769	)		85,003		70,502			(6,354	)		64,148
General and administrative		4,400		(786	)		3,614		5,039			(892	)		4,147
TOTAL OPERATING EXPENSES		103,841		(9,813	)		94,028		81,539			(8,637	)		72,902
INCOME FROM OPERATIONS		98,006		10,714			108,720		84,211			9,447			93,658
Finance income (expense),net		7,734		-			7,734		(539	)		-			(539	)
INCOME BEFORE TAXES		105,740		10,714			116,454		83,672			9,447			93,119
INCOME TAXES		9,506		-			9,506		8,649			-			8,649
NET INCOME		96,234		10,714			106,948		75,023			9,447			84,470

NET INCOME PER SHARE:
Basic		1.16					1.28		0.91						1.02
Diluted		1.12					1.24		0.88						0.98
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING USED IN COMPUTATION OF NET INCOME PER SHARE (in thousands)
Basic		83,280					83,280		82,590						82,590
Diluted		85,579					86,062		85,236						85,786