2/14/2023

speaker
Operator
Conference Operator

Good morning and welcome to InMode fourth quarter and full year financial results conference call. All participants will be in listen-only mode. If you need assistance, please signal conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. Please note that this event is being recorded. I'd now like to turn the conference over to Mary Siegel, MSIR. Please go ahead.

speaker
Mary Siegel
MSIR, Investor Relations

Thank you, operator, and everyone for joining us today. Welcome to our conference call. Before we begin, I would like to remind our listeners that certain information provided on this call may contain forward-looking statements and that 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.

speaker
Moshe Mizrachi
Chairman and CEO

Thank you, Miri, and to everybody who's joining us. With me today are Dr. Michael Kreindel, our Co-Founder and Chief Technology Officer, Yair Malka, our Chief Financial Officer, Shaquille Lacani, our President in North America, Dr. Spiro Tarduro, our chief medical officer, and Rafael Likerman, our VP of finance. Following our prepared remark, we will all be available to answer your question. We are pleased to report another record quarter with Q4 revenue of $133.6 million and $454.3 million for the full year. an increase of 21% as compared to Q4 of 2020. focused growth strategy in the US and globally and our diversified portfolio all contribute to our leadership position in the market. We value the trust of physician and patient as we experience a growing demand across the board. The success of the Empower RF platforms in 2022 continue to exceed our expectation. In fact, Revenue from these platforms exceeding $45 million in 2022, well above our original guidance of $20 million. As we mentioned last quarter, the Morpheus 8 device is becoming the gold standard in the static category, and we believe that it will continue to be one of our biggest growth drivers going forward. This plays a major role in major platforms that we launch. In 2022, we announced an exciting new addition to our portfolio and the Envision platform for dry eye treatment, which received certification in Canada last November. InMod Envision is an innovative technology that delivers targeted bipolar radio frequency energy to small dedicated ocular areas. We plan to launch the Envision platforms in the United States in the first half of this year to focus on the ophthalmology market, and we are encouraged from the positive feedback that we have received from the Canadian market. Additionally, the next generation of Evoque, our hand-free platform for face treatment, is planned to be launched in the second half of 2023. As part of our growth strategy, we continue to innovate as we launch new platforms or modality every year, and we continue to explore potential acquisition that could complement our presence in the aesthetic and wellness market. Now, I would like to turn the call over to Shaquille, our president in North America. Shaquille, go ahead.

Disclaimer

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