InMode Ltd.

Good day and welcome to the In Mode Third Quarter 2023 Earnings Results Conference Call. All participants will be in 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 telephone keypad. To withdraw your question, please press star then two. Please note today's event is being recorded. I'd now like to turn the conference over to Mary Segal of MSIR. Please go ahead.

Thank you, Operator, and everyone for joining us today. Welcome to InMode's third quarter 2023 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 visit 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 Mizrahi, Chairman and CEO. Moshe, please go ahead.

Thank you, Mary, and thanks to everyone for joining us. With me today are Dr. Michael Kreindl, our co-founder and chief technology officer, Yair Malka, our chief financial officer, Shaquille Occhiani, our president in North America, Dr. Spiro Teodoru, our chief medical officer, and Rafael Likerman, our VP of Finance. Following the prepared remark, we will all be available to answer your question. The third quarter was the first time that we saw a slowdown and experienced normal seasonality. that is common in the medical device industry in general, and specifically in the aesthetic space. We ended Q3 with revenue of $123.1 million, a slight increase of 2% compared to the third quarter of 2022. Until the third quarter, InMod has been in an accelerated growth rate, as we establish our presence in the U.S. and globally. Furthermore, the last three years of the COVID pandemic led to abnormal environment in the aesthetic space, resulting in pent-up demand and different aesthetic treatment patterns. Pre-pandemic, summertime hasn't been a popular time for aesthetic treatment due to travel and the requirement to avoid sun post-treatment. This summer, patients and physicians in the US and in Europe returned to normal seasonality cycle, and this trend was reflected in our Q3 financial results. In addition, record interest rates impacted the financing environment of new leasing agreements. in our industry. Salespeople often say time kills deals, and as the credit clearance process takes longer, less platforms were sold in the United States. However, despite these macro challenges, we were pleased to see that demand for in-mode treatment has not been slowed down and remained high. Patent and gold standard technology and innovation are in mode key differentiator. We constantly improve and upgrade our technology. We remain committed to developing new minimally invasive technology and platforms, as well as upgrading our existing platforms. In addition, we will aggressively enhance and protect our IP and patent. This will ensure our long-term position as leader in the industry and will enable us to benefit and become stronger following the current challenges in the market. Before I turn the call over to Shaquille, I would like to reiterate our message regarding the conflict in Israel. As we said in our press release, our employees are safe and together with their management team in Israel and in the United States. We are all as committed as we have always been to the success of this company. InMod is committed to supporting all customers, distributors, employees, and salespeople worldwide. We prioritize the safety and the well-being of our employees and will continue to do so as we execute our strategy. We don't anticipate any interruption to production. Our inventory levels globally and in Israel are sufficient and include component and sub-assembly for the next three quarters. As a result, we expect all platforms and consumables will be delivered on time and will meet the highest standard. In addition, Inmotech all required measures to ensure continuous customer support and exceptional services. We are all as committed as we have ever been to the company's success. Now, I would like to turn the call over to Shaquille, our president in North America. Shaquille.