# EDGAR Filing Document

**Accession Number:** 0001742692
**File Stem:** 0001178913-26-000375
**Filing Date:** 2026-2
**Character Count:** 35059
**Document Hash:** 74d6450e4c620ca0b566032bd8b614aa
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001178913-26-000375.hdr.sgml**: 20260210

**ACCESSION NUMBER**: 0001178913-26-000375

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 3

**CONFORMED PERIOD OF REPORT**: 20260210

**FILED AS OF DATE**: 20260210

**DATE AS OF CHANGE**: 20260210

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** InMode Ltd.
- **CENTRAL INDEX KEY:** 0001742692
- **STANDARD INDUSTRIAL CLASSIFICATION:** ELECTROMEDICAL & ELECTROTHERAPEUTIC APPARATUS [3845]
- **ORGANIZATION NAME:** 08 Industrial Applications and Services
- **EIN:** 000000000
- **STATE OF INCORPORATION:** L3
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-39016
- **FILM NUMBER:** 26613460

**BUSINESS ADDRESS:**
- **STREET 1:** TAVOR BUILDING, SHA?AR YOKNEAM
- **STREET 2:** POB 533
- **CITY:** YOKNEAM
- **STATE:** L3
- **ZIP:** 2069200
- **BUSINESS PHONE:** 972-4-9097470

**MAIL ADDRESS:**
- **STREET 1:** TAVOR BUILDING, SHA?AR YOKNEAM
- **STREET 2:** POB 533
- **CITY:** YOKNEAM
- **STATE:** L3
- **ZIP:** 2069200

------

#### SECURITIES AND EXCHANGE COMMISSION <br> WASHINGTON, D.C. 20549

### FORM 6-K

#### REPORT OF FOREIGN PRIVATE ISSUER<br> PURSUANT TO RULE 13a-16 OR 15d-16 OF<br> THE SECURITIES EXCHANGE ACT OF 1934

#### For the month of February 2026 <br>

#### INMODE LTD. <br>
(Exact name of registrant as specified in its charter)

#### Tavor Building, Sha'ar Yokneam

#### P.O. Box 533

#### Yokneam 2069206 Israel
(Address of Principal Executive Offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

**Form 20-F ☒ Form 40-F ☐**

Indicate by check mark whether the registrant by furnishing the information contained in this form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934:

**Yes ☐ No ☒**

------

**Results of Operations and Financial Condition**

On February 10, 2026, InMode Ltd. announced its fourth quarter and full year 2025 financial results. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

---

| | |
|:---|:---|
| **Exhibit No.** | **Description of Exhibit** |
| [99.1](exhibit_99-1.htm) | [Press Release dated February 10, 2026](exhibit_99-1.htm) |

---

------

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

---

| | |
|:---|:---|
|  | **InMode Ltd.** |
|  | By: <u>/s/ Moshe Mizrahy</u> |
|  | Moshe Mizrahy |
| <br> February 10, 2026 | Chief Executive Officer |

---

------

## Exhibit 99.1

------

<u>**Exhibit 99.1**</u><br>

**InMode Reports Fourth Quarter and Full Year 202**5 **Financial Results: Quarterly GAAP Revenue** 

**of $103.9 Million and Full Year Revenue of $370.5 Million**

**YOKNEAM, Israel, February 10, 2026 - InMode Ltd. (Nasdaq: INMD) ("InMode")**, a leading global provider of innovative medical technologies, today announced its consolidated financial results for the fourth quarter and full year of 2025.

#### Fourth Quarter 2025 Highlights:
● Quarterly GAAP revenues of $103.9 million, compared to $97.9 million in the fourth quarter of 2024.

● Quarterly revenues from consumables and service of $21.5 million, an increase of 8% compared to the fourth quarter of 2024.

● GAAP operation income of $26 million, \*non-GAAP operation income of $28.5 million.

● Total cash position of $555.3 million as of December 31, 2025, including cash and cash equivalents, marketable securities and short-term bank deposits.

#### <br>

#### Full Year 2025 Highlights:
● Full year revenues of $370.5 million, a year-over-year decrease of 6%.

● Full year revenues from consumables and service of $81.4 million, an increase of 3% compared to 2024.

● GAAP operation income of $85.4 million, compared to $112.5 million in 2024; \*non-GAAP operation income of $96.5 million, compared to $129.1 million in 2024.

● Returned $127.4 million of capital to shareholders through repurchase of ordinary shares during 2025.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **U.S. GAAP Results**<br> (U.S. dollars in thousands, except for per share data) | **U.S. GAAP Results**<br> (U.S. dollars in thousands, except for per share data) | **U.S. GAAP Results**<br> (U.S. dollars in thousands, except for per share data) | **U.S. GAAP Results**<br> (U.S. dollars in thousands, except for per share data) | **U.S. GAAP Results**<br> (U.S. dollars in thousands, except for per share data) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Q4 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Q4 2024** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **FY 2025** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **FY 2024** |
|  Revenues | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $103854 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $97853 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $370495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $394818 |
| Gross Margins | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 78% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 79% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 79% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 80% |
| Net Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $27025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $82771 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $93831 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $181275 |
| Earnings per Diluted Share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $0.42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1.14 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1.43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $2.25 |
| **\*Non-GAAP Results**<br> (U.S. dollars in thousands, except for per share data) | **\*Non-GAAP Results**<br> (U.S. dollars in thousands, except for per share data) | **\*Non-GAAP Results**<br> (U.S. dollars in thousands, except for per share data) | **\*Non-GAAP Results**<br> (U.S. dollars in thousands, except for per share data) | **\*Non-GAAP Results**<br> (U.S. dollars in thousands, except for per share data) |
|  | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Q4 2025** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Q4 2024** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **FY 2025** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **FY 2024** |
| Gross Margins | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 79% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 80% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 79% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 81% |
| Net Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $29429 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $31081 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $105495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $142707 |
| Earnings per Diluted Share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $0.46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $0.42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1.60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1.76 |

---

*\*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 included in this release. Non-GAAP results exclude share-based compensation and tax benefit adjustments.*

------

#### Management Comments
"While conditions across our industry remain challenging, we are seeing early signs of stabilization," said Moshe Mizrahy, Chief Executive Officer of InMode. "While the global uncertainties, particularly in North America, continues to weigh on overall demand, and the industry has yet to fully rebound, we are encouraged by the initial growth in Europe."

"Looking ahead, in 2026 we plan on launching two new laser-based platforms. We see solid potential for these offerings across both our existing customer base and new customers and believe they will further strengthen our long-term market position," concluded Mizrahy.

"Over the past year, we have unified our North American operations into a single organization encompassing the Eastern U.S., Western U.S., and Canada," said Michael Dennison, President of North America. "At the same time, we have refreshed our sales and post-sales leadership teams, strengthening our ability to serve customers across the region. With this foundation in place, we are entering 2026 with focus, alignment, and clear direction."

#### Fourth Quarter and Full Year 2025 Financial Results
Total GAAP revenues for the fourth quarter of 2025 were $103.9 million, an increase of 6% compared to $97.9 million in the fourth quarter of 2024. Total revenues for 2025 were $370.5 million, a decrease of 6% compared to 2024.

Yair Malca, Chief Financial Officer of InMode added, "Our European operations achieved record revenue in the fourth quarter, reflecting continued momentum across the region and strong execution by our teams."

GAAP gross margin for the fourth quarter of 2025 was 78%, compared to 79% for the fourth quarter of 2024. \*Non-GAAP gross margin for the fourth quarter of 2025 was 79%, compared to 80% for the fourth quarter of 2024. GAAP gross margin for 2025 was 79%, compared to 80% for 2024. \*Non-GAAP gross margin for 2024 was 79%, compared to 81% for 2024.

GAAP operating margin for the fourth quarter of 2025 was 25%, compared to 28% in the fourth quarter of 2024. \*Non-GAAP operating margin for the fourth quarter of 2025 was 27%, compared to 32% for the fourth quarter of 2024. GAAP operating margin for 2025 was 23%, compared to 29% in 2024. \*Non-GAAP operating margin for 2025 was 26%, compared to 33% in the full year of 2024. This decrease was primarily attributable to higher sales and marketing expenses.

InMode reported GAAP net income of $27.0 million, or $0.42 per diluted share, in the fourth quarter of 2025, compared to $82.8 million, or $1.14 per diluted share, in the fourth quarter of 2024. On a \*non-GAAP basis, InMode reported net income of $29.5 million, or $0.46 per diluted share, in the fourth quarter of 2025, compared to $31.1 million, or $0.42 per diluted share, in the fourth quarter of 2024. GAAP net income was $93.9 million, or $1.43 per diluted share, in 2025, compared to GAAP net income of $181.3 million, or $2.25 per diluted share, in 2024. On a \*non-GAAP basis, InMode reported net income of $105.5 million, or $1.60 per diluted share, in the full year of 2025, compared to net income of $142.7 million, or $1.76 per diluted share, for the full year in 2024. As a reminder, during Q4 of 2024, the Company released a valuation allowance related to its U.S. net deferred tax assets, and as a result recorded a one-time deferred tax asset of $55.1 million. Therefore, non-GAAP net income represents the most efficient basis for the comparison of year-over-year operating results.

As of December 31, 2025, InMode had cash and cash equivalents, marketable securities and short-term bank deposits of $555.3 million.

"We ended the year with a strong balance sheet and returned $127.4 million of capital to shareholders through the repurchase of ordinary shares during 2025, underscoring our disciplined capital allocation and commitment to shareholder value," concluded Malca.

------

#### 2026 Financial Outlook
Management provided an outlook for the full year of 2026 ending December 31, 2026. Based on current estimates, management expects:

&nbsp;&nbsp;&nbsp;&nbsp;● Revenues between $365 million to $375 million

&nbsp;&nbsp;&nbsp;&nbsp;● \*Non-GAAP gross margin between 75% and 77%

&nbsp;&nbsp;&nbsp;&nbsp;● \*Non-GAAP income from operations to be between $87 million and $92 million

&nbsp;&nbsp;&nbsp;&nbsp;● \*Non-GAAP earnings per diluted share between $1.43 to $1.48

*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.*

*\*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 and tax benefit adjustments.*

However, these estimates are based on management's current estimates, which may be updated.

#### The Current Situation in Israel
Regarding the current situation in Israel, on October 9, 2025, a new cease-fire agreement between Hamas and Israel began, and the hostilities have formally paused after two years of conflicts. The scope and severity of ongoing conflicts in Gaza, Northern Israel, Lebanon, Iran, and the broader region are unpredictable and could escalate any time. To date, our operations have not been materially affected. We continue to monitor political and military developments closely and examine the consequences for our operations and assets.

#### 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, 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, Chief Executive Officer, Dr. Michael Kreindel, Co-Founder and Chief Technology Officer and Mr. Yair Malca, Chief Financial Officer, will host a conference call today, February 10, 2026, at 8:30 a.m. Eastern Time to discuss the fourth quarter and full year 2025 financial results.

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

<u>https://dpregister.com/sreg/10205326/10099498542</u>.

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: <u>https://event.choruscall.com/mediaframe/webcast.html?webcastid=Q835bTWk</u>

At:

8:30 a.m. Eastern Time

5:30 a.m. Pacific Time

The conference call will also be webcast live from a link on InMode's website at <u>https://inmodemd.com/investors/events-presentations/</u><u>.</u> A reply of the conference call will be available from February 10, 2026, at 12 p.m. Eastern Time to February 24, 2026, at 11:59 p.m. Eastern Time. To access the replay, please dial one of the following numbers:

**Replay Dial-in U.S./ Canada TOLL-FREE:** 1-855-669-9658

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

**Replay Pin Number**: 9741895

#### To access the replay using an international dial-in number, please select the link below:
<u>https://services.choruscall.com/ccforms/replay.html</u>

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

#### About InMode<br>
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 <u>www.inmodemd.com</u>.

#### 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 2026 revenue projection described above. 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. 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 4, 2025, and our subsequent 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: <u>Yair.Malca@inmodemd.com</u> Investor Relations Contact: Miri Segal MS-IR LLC Email: <u>ir@inmodemd.com</u>

------

#### INMODE LTD.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME

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

(Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three months ended<br> December 31,** | **Three months ended<br> December 31,** | **Year Ended**<br> **December 31,** | **Year Ended**<br> **December 31,** |
|  | **2025** | **2024** | **2025** | **2024** |
| **REVENUES** | 103854 | 97853 | 370495 | 394818 |
| **COST OF REVENUES** | 22554 | 20216 | 79525 | 77752 |
| **GROSS PROFIT** | **81300** | **77637** | **290970** | **317066** |
| **OPERATING EXPENSES:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Research and development | 3509 | 2667 | 13319 | 13137 |
| &nbsp;&nbsp;&nbsp; Sales and marketing | 48407 | 44653 | 180578 | 181366 |
| &nbsp;&nbsp;&nbsp; General and administrative | 3393 | 2453 | 11686 | 10032 |
| **TOTAL OPERATING EXPENSES** | 55309 | 49773 | 205583 | 204535 |
| **OPERATIONS INCOME** | **25991** | **27864** | **85387** | **112531** |
| &nbsp;&nbsp;&nbsp; Finance income, net | 5301 | 4346 | 24943 | 30938 |
| **INCOME BEFORE INCOME TAXES** | **31292** | **32210** | **110330** | **143469** |
| **INCOME TAXES BENEFIT (EXPENSES)** | (4267) | 50561 | (16499) | 37806 |
| **NET INCOME** | **27025** | **82771** | **93831** | **181275** |
| **EARNINGS PER SHARE:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Basic | 0.43 | 1.15 | 1.45 | 2.29 |
| &nbsp;&nbsp;&nbsp; Diluted | 0.42 | 1.14 | 1.43 | 2.25 |
| **WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING USED IN COMPUTATION OF EARNINGS PER SHARE (in thousands)** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Basic | 63335 | 71874 | 64633 | 79306 |
| &nbsp;&nbsp;&nbsp; Diluted | 64082 | 72787 | 65445 | 80597 |

---

------

CONDENSED CONSOLIDATED BALANCE SHEETS

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

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | **December 31,**<br> **2025** | **December 31,**<br> **2024** |
| **Assets** | | |
| &nbsp;&nbsp;&nbsp; **CURRENT ASSETS:** | | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cash and cash equivalents | 302543 | 155329 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Marketable securities (amortized cost of $83,542 and $268,129, as of December 31, 2025 and 2024, respectively) | 83632 | 267688 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-term bank deposits | 169159 | 173455 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accounts receivable, net of allowance for credit losses of $2,371 and $1,825, as of December 31, 2025 and 2024, respectively | 43504 | 36335 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Prepaid expenses and other receivables | 25733 | 22097 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Inventories | 74050 | 59548 |
| **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TOTAL CURRENT ASSETS** | 698621 | 714452 |
| **&nbsp;&nbsp;&nbsp;&nbsp;NON-CURRENT ASSETS:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accounts receivable, net of allowance for credit losses of $856 and $924 as of December 31, 2025 and 2024, respectively | 3005 | 3176 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred income tax asset | 53230 | 56285 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Operating lease right-of-use assets | 8274 | 8732 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Property and equipment, net | 2599 | 2322 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other investments | 700 | 700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL NON-CURRENT ASSETS** | 67808 | 71215 |
| **TOTAL ASSETS** | 766429 | 785667 |
| **Liabilities and shareholders' equity** |  |  |
| &nbsp;&nbsp;&nbsp; **CURRENT LIABILITIES:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accounts payables | 17912 | 13782 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Contract liabilities | 12093 | 16755 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other liabilities | 40739 | 39314 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL CURRENT LIABILITIES** | 70744 | 69851 |
| **&nbsp;&nbsp;&nbsp;&nbsp;NON-CURRENT LIABILITIES:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Contract liabilities | 3043 | 3336 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other liabilities | 4436 | 3356 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Operating lease liabilities | 5008 | 5311 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL NON-CURRENT LIABILITIES** | 12487 | 12003 |
| **TOTAL LIABILITIES** | 83231 | 81854 |
| **TOTAL SHAREHOLDERS' EQUITY** | 683198 | 703813 |
| **TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY** | 766429 | 785667 |

---

------

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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

(Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three months ended<br> December 31,** | **Three months ended<br> December 31,** | **Year Ended<br> December 31,** | **Year Ended<br> December 31,** |
|  | 2025 | 2024 | 2025 | 2024 |
| **CASH FLOWS FROM OPERATING ACTIVITIES:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net income | 27025 | 82771 | 93831 | 181275 |
| &nbsp;&nbsp;&nbsp; Adjustments required to reconcile net income to net cash provided by operating activities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Depreciation | 174 | 248 | 695 | 728 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Share-based compensation expenses | 2499 | 3447 | 11131 | 16569 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in allowance for credit losses of trade receivable | 295 | 158 | 454 | 572 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loss (Gain) on marketable securities, net | 1 | (3) | 15 | 167 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Finance expenses (income), net | (762) | 1533 | 498 | (4401) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred income tax assets, net | 864 | (55121) | 2928 | (55179) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Changes in operating assets and liabilities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Decrease (increase) in accounts receivable (current and non-current) | (6358) | 4025 | (7452) | 5949 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Decrease (increase) in other receivables | (1275) | 1879 | (3678) | (5698) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Increase in inventories | (2647) | (1264) | (14502) | (14453) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Increase (decrease) in accounts payable | 1188 | (531) | 4129 | (184) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Increase (decrease) in other liabilities (current and non-current) | 4759 | (4243) | 2163 | 1917 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Increase (decrease) in contract liabilities (current and non-current) | (3089) | (457) | (4955) | 5402 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net cash provided by operating activities | 22674 | 32442 | 85257 | 132664 |
| **CASH FLOWS FROM INVESTING ACTIVITIES:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Investment in short-term deposits | (113733) | (3500) | (292637) | (168187) |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from short-term deposits | 103389 | 67100 | 293076 | 218740 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Purchase of fixed assets | (534) | (234) | (972) | (669) |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Purchase of marketable securities | - | (59708) | (20877) | (336221) |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from sale of marketable securities | - | 21146 | 17214 | 90754 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from maturity of marketable securities | 38101 | 53012 | 190228 | 357789 |
| Net cash provided by investing activities | 27223 | 77816 | 186032 | 162206 |
| &nbsp;&nbsp;&nbsp; **CASH FLOWS FROM FINANCING ACTIVITIES:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Repurchase of ordinary shares | - | (119849) | (127444) | (285385) |
| &nbsp;&nbsp;&nbsp;&nbsp; Exercise of options | 137 | 1420 | 1385 | 2614 |
| Net cash provided by (used in) financing activities | 137 | (118429) | (126059) | (282771) |
| **EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS** | 72 | (1338) | 1984 | (1181) |
| **NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS** | 50106 | (9509) | 147214 | 10918 |
| **CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR** | 252437 | 164838 | 155329 | 144411 |
| **CASH AND CASH EQUIVALENTS AT END OF YEAR** | 302543 | 155329 | 302543 | 155329 |

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CONDENSED CONSOLIDATED FINANCIAL HIGHLIGHTS

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

(Unaudited)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Three months ended December 31,** | **Three months ended December 31,** | **Three months ended December 31,** | **Three months ended December 31,** | **Year ended December 31,** | **Year ended December 31,** | **Year ended December 31,** | **Year ended December 31,** |
|  | **2025** | **2025** | **2024** | **2024** | **2025** | **2025** | **2024** | **2024** |
| **Revenues by Category:** |  |  |  |  |  |  |  |  |
| Capital Equipment revenues - United States | 46760 | 45% | 53128 | 55% | 162158 | 44% | 204520 | 52% |
| Capital Equipment revenues - International | 35631 | 34% | 24836 | 25% | 126960 | 34% | 111027 | 28% |
| **Total Capital Equipment revenues** | **82391** | **79%** | **77964** | **80%** | **289118** | **78%** | **315547** | **80%** |
| Consumables and service revenues | 21463 | 21% | 19889 | 20% | 81377 | 22% | 79271 | 20% |
| **Total Revenue** | 103854 | 100% | 97853 | 100% | 370495 | 100% | 394818 | 100% |

---

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Three months ended December 31, | Three months ended December 31, | Three months ended December 31, | Three months ended December 31, | Three months ended December 31, | Three months ended December 31, | Year ended December 31, | Year ended December 31, | Year ended December 31, | Year ended December 31, | Year ended December 31, | Year ended December 31, |
|  | 2025 | 2025 | 2025 | **202**4 | **202**4 | **202**4 | 2025 | 2025 | 2025 | **202**4 | **202**4 | **202**4 |
|  | % | % | % | % | % | % | % | % | % | % | % | % |
|  | United States | International | Total | United States | International | Total | United States | International | Total | United States | International | Total |
| **Revenues by Technology:** |  |  |  |  |  |  |  |  |  |  |  |  |
| Minimal-Invasive | 76 | 75 | **76** | 93 | 76 | **86** | 78 | 78 | **78** | 92 | 80 | **87** |
| Hands-Free | 1 | 2 | **1** | 5 | 3 | **5** | 3 | 2 | **2** | 6 | 3 | **5** |
| Non-Invasive | 23 | 23 | 23 | 2 | 21 | 9 | 19 | 20 | 20 | 2 | 17 | 8 |
|  | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |

---

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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 December 31, 2025 | Three months ended December 31, 2025 | Three months ended December 31, 2025 | Three months ended December 31, 2024 | Three months ended December 31, 2024 | Three months ended December 31, 2024 | Three months ended December 31, 2024 |
|  | <br>**GAAP** | <br>**Share Based<br> Compensation** | <br>**Non-GAAP** | <br>**GAAP** | <br>Share Based<br> Compensation | <br>Tax benefit (1) | <br>**Non-GAAP** |
| **REVENUES** | 103854 | **-** | 103854 | 97853 | **-** | - | 97853 |
| **COST OF REVENUES** | 22554 | (346) | 22208 | 20216 | (472) | - | 19744 |
| **GROSS PROFIT** | **81300** | **346** | **81646** | **77637** | **472** | **-** | **78109** |
| **OPERATING EXPENSES:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Research and development | 3509 | (256) | 3253 | 2667 | (300) | - | 2367 |
| &nbsp;&nbsp;&nbsp; Sales and marketing | 48407 | (1589) | 46818 | 44653 | (2360) | - | 42293 |
| &nbsp;&nbsp;&nbsp; General and administrative | 3393 | (308) | 3085 | 2453 | (315) | - | 2138 |
| **TOTAL OPERATING<br> EXPENSES** | 55309 | (2153) | 53156 | <br> **49773**<br>| (2975) | <br> **-**<br>| <br> **46798**<br>|
| **OPERATIONS INCOME** | **25991** | **2499** | **28490** | **27864** | **3447** | **-** | **31311** |
| &nbsp;&nbsp;&nbsp; Finance income, net | 5301 | - | 5301 | 4346 | - | - | 4346 |
| **INCOME BEFORE INCOME TAXES** | 31292 | 2499 | 33791 | 32210 | 3447 | - | 35657 |
| **INCOME TAXES BENEFIT (EXPENSES)** | (4267) | (95) | (4362) | <br> 50561<br>| <br> -<br>| (55137) | (4576) |
| **NET INCOME** | 27025 | 2404 | 29429 | 82771 | 3447 | (55137) | 31081 |
| **EARNINGS PER SHARE:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Basic | <br> 0.43<br>|  | <br> 0.46<br>| <br> 1.15<br>|  |  | <br> 0.43<br>|
| &nbsp;&nbsp;&nbsp; Diluted | 0.42 |  | 0.46 | 1.14 |  |  | 0.42 |
| **WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING USED IN COMPUTATION OF EARNINGS PER SHARE (in thousands)** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Basic | 63335 |  | 63335 | 71874 |  |  | 71874 |
| &nbsp;&nbsp;&nbsp; Diluted | 64082 |  | 64443 | 72787 |  |  | 73139 |

---

(1) Tax benefit recorded during the year ended December 31, 2024, as a result of a release of valuation allowance on our deferred tax assets in the United States as it is more likely than not that our net deferred tax assets will be realized given our expectation of profitability in future periods.

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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)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | <br> **Year Ended December 31, 2025** | <br> **Year Ended December 31, 2025** | <br> **Year Ended December 31, 2025** | **Year Ended December 31, 2024** | **Year Ended December 31, 2024** | **Year Ended December 31, 2024** | **Year Ended December 31, 2024** |
|  | GAAP | Share Based<br> Compensation | Non-GAAP | GAAP | Share Based<br> Compensation | <br>**Tax benefit (1)** | Non-GAAP |
| **REVENUES** | 370495 |  | 370495 | 394818 | - | **-** | 394818 |
| **COST OF REVENUES** | 79525 | (1333) | 78192 | 77752 | (1833) | - | 75919 |
| **GROSS PROFIT** | **290970** | **1333** | **292303** | **317066** | **1833** | **-** | **318899** |
| **OPERATING EXPENSES:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Research and development | 13319 | (1039) | 12280 | 13137 | (2177) | **-** | 10960 |
| &nbsp;&nbsp;&nbsp; Sales and marketing | 180578 | (7685) | 172893 | 181366 | (11367) |  | 169999 |
| &nbsp;&nbsp;&nbsp; General and administrative | 11686 | (1074) | 10612 | 10032 | (1192) | - | 8840 |
| **TOTAL OPERATING<br> EXPENSES** | 205583 | (9798) | 195785 | 204535 | (14736) | <br> - | 189799 |
| **OPERATIONS INCOME** | **85387** | **11131** | **96518** | **112531** | **16569** | **-** | **129100** |
| &nbsp;&nbsp;&nbsp; Finance income, net | 24943 | - | 24943 | 30938 | - | - | 30938 |
| **INCOME BEFORE INCOME TAXES** | 110330 | 11131 | 121461 | 143469 | 16569 | - | 160038 |
| **INCOME TAXES BENEFIT (EXPENSES)** | (16499) | 533 | (15966) | 37806 | - | (55137) | (17331) |
| **NET INCOME** | 93831 | 11664 | 105495 | 181275 | 16569 | (55137) | 142707 |
| **EARNINGS PER<br> SHARE:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Basic | 1.45 |  | 1.63 | 2.29 |  |  | 1.80 |
| &nbsp;&nbsp;&nbsp; Diluted | 1.43 |  | 1.60 | 2.25 |  |  | 1.76 |
| **WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING USED IN COMPUTATION OF EARNINGS PER SHARE (in thousands)** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Basic | 64633 |  | 64633 | 79306 |  |  | 79306 |
| &nbsp;&nbsp;&nbsp; Diluted | 65445 |  | 65756 | 80597 |  |  | 80943 |

---

(1) Tax benefit recorded during the year ended December 31, 2024, as a result of a release of valuation allowance on our deferred tax assets in the United States as it is more likely than not that our net deferred tax assets will be realized given our expectation of profitability in future periods. <br>

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