InMode Ltd.

Good morning and welcome to the In Mode First Quarter 2024 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 2. Please note this event is being recorded. I would now like to hand the conference over to Mary Segal, CEO of MSIR. Please go ahead.

Thank you, operator and everyone for joining us today. Welcome to InMode's first quarter 2024 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, InMode's CEO. Moshe, please go ahead.

Thank you, Miri, and to everyone for joining us. With me today are Dr. Michael Quindel, our co-founder and chief technology officer, Yair Malka, our chief financial officer, Shakil Akani, our president in North America, Dr. Spiro Teodoro, our chief medical officer, and Rafael Likerman, our VP of Finance. Following our prepared remark, we will all be available to answer your questions. I would like to start with a review of development during the first quarter. In the beginning of 2024, we launched our two new and advanced platforms, IgniteRF and Optimus Max. Meanwhile, the macro environment continued to be challenging, and we experienced slowdown all through the first quarter. As a result, we decided to decrease our guidance for the year we believe that industry headwinds may continue into the second quarter as well. We're excited to see high level of interest and demand for our latest platforms, the Ignite IF, Ignite RF, and the Optimus Max. Although these platforms accounted for 16% of our sales in Q1, delivery was delayed due to ongoing construction of manufacturing line that led to insufficient inventory levels. All our efforts are focused on fulfilling orders remotely and ensuring that our inventory meets the needs of customers who have already pre-ordered the new platforms. Let me expand on the new line of platforms. Ignite.of is the next generation of our legacy radio frequency assisted lipolysis technology. A minimal invasive platforms with the new Morpheus 8 burst handpiece and all new Quantum RF end pieces. Quantum RF end pieces are expected to be FDA cleared in the second half of 2024 and patent protected for 25 years. Optimus Max is a multi-application platform with Morpheus 8 Burst and non-invasive RF, IPL, and laser-based treatment. We expect that these two platforms will play a significant role in our growth of our company. Moving to capital allocation, InMode Board of Directors has approved a third share purchase program, up to 8.37 million shares. In addition, we keep all other options on the table, including exploring strategic M&A opportunities, paying dividend, as well as additional future buyback. Before I conclude, I am pleased to welcome Dr. Michael Engel as new chairman of the board. Michael has been a board member since 2019 and he has served on the board of several public companies. He has significant financial and executive experience, including leading the Discount Investment Corporation Limited in Israel. His executive experience includes serving as the CEO of DCM, a publicly traded company. Dr. Engel holds BA in Economics, and an MBA and PhD in finance from Columbia University. We look forward to benefiting from his financial and strategic expertise. Finally, regarding the current war situation in Israel and the status of our new platforms, management would like to assure investors that we prioritize the safety and the well-being of our employees and all of our team is safe. In addition, due to the war in Israel, assembly line of the new platforms may take longer to complete, and a new platform delivery may be pushed to the second half of the year. Now, I would like to turn the call over to Shaquille, our president of North America. Shaquille, please.