InMode Ltd.

Good day and welcome to the in-mode LTD fourth quarter and full year 2021 earnings results conference call. All participants will be in a listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on your touchtone phone. To withdraw from the question queue, please press star then two. Please note this event is being recorded. I would now like to turn the conference over to Mary Segal from MSIR. Please go ahead.

Thank you, operator and everyone for joining us today. Welcome to InMode's fourth quarter and full year 2021 earnings call. Before we begin, I would like to remind our listeners that certain information provided on this call may contain forward-looking statements, and the safe harbor statement outlined in today's earnings release also pertains to this call. If you have not received a copy of the release, please go to the investor relations section of the company's website. Changes in business, competitive, technological, regulatory, and other factors could cause actual results to differ materially from those expressed by the forward-looking statements made today. Our historical results are not necessarily indicative of future performance. As such, we can give no assurance as to the accuracy of our forward-looking statements and assume no obligation to update them, except as required by law. With that, I'd like to pass the call over to Moshe Mizrachi, Chairman and CEO. Moshe, please go ahead.

Thank you, Miri, and thank you all for joining our fourth quarter and full year 2021 earning call. With me today are Dr. Michael Kreindl, our co-founder and chief technology officer, Yair Malka, our CFO, Shakila Kani, our president in North America, Dr. Spiro Tardous, our chief medical officer, and Rafael Likerman, our VP of Finance. we will all be available for Q&A session after our prepared remarks. Once again, we have the pleasure of announcing a record quarter with revenue of $110.5 million and $357.6 million for a full year, an increase of 47% and 73% compared to the same period last year. Crossing the $100 million quarterly revenue mark a symbolic and meaningful achievement for our company. We continue to achieve strong profitable growth. Net income for the quarter was a gap basis was 52.7 million and 55.2 million on a non-gap basis. In the full year of 2021, net income reached $165 million on a GAAP basis, and $176.3 million on a non-GAAP basis. As a result of our strategy to focus on selling more systems globally, sales of capital equipment represent 89% of our total revenue in the fourth quarter. Sales from consumables and services increase significantly and reach record volume every quarter. DeSale accounted for 11% of total in the fourth quarter and in the full year 2021. By launching new platforms and innovative modalities and growing our install base in the US and globally, we expect consistent growth in consumable revenue will become a more significant part of our revenue mix. I would like to highlight the ongoing growth from our minimal invasive and ablative technologies, which now account for 73% of our revenue, compared with 65% last year. Hand-free devices generated 17% of our revenue, and non-invasive RF and laser platforms represent the remaining 10%. The product line mix for the full year was 72% for minimal invasive, 20% for hand-free, and 8% for non-invasive RF and laser platforms. Looking at the international side of the business, fourth quarter sales outside the U.S. accounted for $36.3 million, a 69% increase compared to the same quarter last year. Full year results reached $120.3 million, a 112% increase compared to 2020. These figures represent 34% of our total revenue of all 2021 and 33% of our total revenue for the fourth quarter. eMOK currently operates in 71 countries, having added 17 countries more in 2021. We also expanded our existing operation in Italy by establishing a subsidiary there. we see most of the growth coming from regions where we are already involved, yet there is opportunity in new territories. Furthermore, despite facing serious global supply chain obstacles in 2021, we successfully delivered every system within 10 days of receiving the order. We would not have done that without our hard-working and dedicated employees and partners. We value their contribution and thank them for it. As for 2022, we're continuing to evaluate the impact of the Omicron and the BA2 COVID variant on our business that we do in every territory. We hope that current wave of COVID will pass and will be the last one so that business across the world will return to normal soon. Now, I would like to turn the call over to Shaquille, our president in North America. Shaquille?