# EDGAR Filing Document

**Accession Number:** 0001742692
**File Stem:** 0001178913-25-002528
**Filing Date:** 2025-7
**Character Count:** 30894
**Document Hash:** b664bf40e7ed51dc8494e282bc1f2082
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001178913-25-002528.hdr.sgml**: 20250730

**ACCESSION NUMBER**: 0001178913-25-002528

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250730

**FILED AS OF DATE**: 20250730

**DATE AS OF CHANGE**: 20250730

**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:** 251163915

**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 July 2025

#### <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 July 30, 2025, InMode Ltd. (the "Company") announced its second quarter 2025 financial results. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

#### Legal Proceedings
From time to time, the Company may be subject to legal proceedings and claims in the ordinary course of business. On February 14, 2024, a purported shareholder of the Company filed a putative shareholder class action (the "Securities Class Action") in the United States District Court for the Central District of California (the "Court"), captioned Cement Masons and Plasterers Local No. 502 Pension Fund v. InMode Ltd. et al., Case No. 2:24-cv-01219, against the Company and certain of its officers and directors. The complaint alleges claims under Sections 10(b) and 20(a) of the Exchange Act based on allegedly false or misleading statements related to the Company's business, operations, sales practices and financial outlook. The lawsuit seeks unspecified damages and other relief. On April 16, 2024, multiple shareholders moved to be appointed lead plaintiff. On December 4, 2024, the Court entered an order appointing a group of shareholder funds as the lead plaintiffs. On January 31, 2025, the lead plaintiffs filed an amended complaint. The amended complaint purportedly brings claims on behalf of purchasers of the Company's ordinary shares between February 18, 2020 and December 6, 2023, inclusive.

On April 11, 2025, the Company filed a motion to dismiss the amended complaint, asserting, among other arguments, that the allegations in the amended complaint are legally insufficient and fail to support the lead plaintiffs' claims. On June 20, 2025, the lead plaintiffs filed an opposition to the Company's motion to dismiss, and on July 21, 2025, the Company filed a reply in support its motion to dismiss. The motion to dismiss is fully briefed as of July 21, 2025 and remains pending before the Court.

As of the date of this filing, the Company is unable to estimate a range of loss, if any, that could result were there to be an adverse final decision in the Securities Class Action, and an estimated liability has not been recorded in the Company's financial statements. The defendants intend to continue to deny the allegations of wrongdoing and vigorously defend against the claims in the Securities Class Action.

---

| | |
|:---|:---|
| **Exhibit No.** | **Description of Exhibit** |
| [99.1](exhibit_99-1.htm) | [Press Release dated July 30, 2025](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> July 30, 2025 | Chief Executive Officer |

---

------

## Exhibit 99.1

------

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

#### InMode Reports Second Quarter 2025 Financial Results: Quarterly Revenue of $95.6 Million,

#### 80% Gross Margins
**YOKNEAM, Israel, July 30, 2025 - InMode Ltd. (Nasdaq: INMD) ("InMode")**, a leading global provider of innovative medical technologies, today announced its consolidated financial results for the second quarter ended June 30, 2025.

#### Second Quarter 2025 Highlights:

#### <br>
● Quarterly GAAP revenues of $95.6 million, compared to $86.4 million in the second quarter of 2024.

● Quarterly revenues from consumables and service of $19.8 million, a decrease of 6% compared to the second quarter of 2024.

● GAAP operating income of $22.9 million, \*non-GAAP operating income of $26.3 million.

● Total cash position of $510.7 million as of June 30, 2025, including cash and cash equivalents, marketable securities and short-term bank deposits.

**U.S. GAAP Results**<br> (U.S. dollars in thousands, except for per share data)<br>

---

| | | |
|:---|:---|:---|
|  | Q2 2025 | **Q2 2024** |
| Revenues | $95602 | $86449 |
| Gross Margins | 80% | 80% |
| Net Income | $26742 | $23818 |
| Earnings per Diluted Share | $0.42 | $0.28 |

---

**\*Non-GAAP Results**<br> (U.S. dollars in thousands, except for per share data)<br>

---

| | | |
|:---|:---|:---|
|  | **Q2 2025** | **Q2 2024** |
| Gross Margins | 80% | 81% |
| Net Income | $30139 | $28976 |
| Earnings per Diluted Share | $0.47 | $0.34 |

---

*\*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 related tax adjustments.*

#### Management Comments
"The second quarter reflects the broader trends we've seen in recent months, with persistent external headwinds, including ongoing macroeconomic uncertainty and a more cautious consumer behavior," said Moshe Mizrahy, Chief Executive Officer of InMode. "While these factors have impacted our results, we remain disciplined in our execution and committed to investing in the capabilities and growth drivers that will enable us to emerge stronger and deliver sustainable long-term value.

"Although broader economic challenges in the U.S. impacted our overall performance this quarter, our international business provided a certain offset. Once again, sales generated from Europe reached a record high in the second quarter," Mizrahy concluded.

Yair Malca, Chief Financial Officer of InMode, added, "Our strong balance sheet is a key asset in these uncertain times, giving us the flexibility to retain top talent, expand globally, and continue leading the industry with cutting-edge technologies. Finally, assuming U.S. tariffs remain at their current level of 10%, we expect gross margins to be impacted by approximately 2% to 3%. We continue to evaluate options to mitigate the effects of these tariffs," Malca concluded.

------

#### Second Quarter 2025 Financial Results
Total revenues for the second quarter of 2025 were $95.6 million. In the second quarter of 2024, revenues were $86.4 million, excluding $16.2 million in pre-orders for new platforms which had not yet been delivered by quarter-end.

GAAP gross margin for the second quarter remained steady at 80%, consistent with the second quarter of 2024. \*On a non-GAAP basis, gross margin was 80%, compared to 81% last year.

GAAP operating margin for the second quarter of 2025 was 24%, compared to 21% in the second quarter of 2024. \*Non-GAAP operating margin for the second quarter of 2025 was 28% compared to 27% for the second quarter of 2024.

InMode reported GAAP net income of $26.7 million, or $0.42 per diluted share, in the second quarter of 2025, compared to $23.8 million, or $0.28 per diluted share, in the second quarter of 2024. On a \*non-GAAP basis, InMode reported net income of $30.1 million, or $0.47 per diluted share, in the second quarter of 2025, compared to $29.0 million, or $0.34 per diluted share, in the second quarter of 2024.

As of June 30, 2025, InMode had cash and cash equivalents, marketable securities and short-term bank deposits of $510.7 million.

#### 2025 Financial Outlook
Management provided an outlook for the full year of 2025 ending December 31, 2025. Based on our current estimates, management expects:

&nbsp;&nbsp;&nbsp;&nbsp;● Revenues between $365 to $375 million, compared to prior guidance of $395 million to $405 million

&nbsp;&nbsp;&nbsp;&nbsp;● \*Non-GAAP gross margin remains the same as in previous guidance between 78% and 80%

&nbsp;&nbsp;&nbsp;&nbsp;● \*Non-GAAP income from operations to be between $93 million and $98 million, compared to previous guidance of $101 million to $106 million

&nbsp;&nbsp;&nbsp;&nbsp;● \*Non-GAAP earnings per diluted share between $1.55 to $1.59, compared to previous guidance of $1.64 to $1.68

*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 related tax adjustments.*

#### The Current Situation in Israel
Regarding the current situation in Israel, the conflict in the region remains volatile. A ceasefire between Israel and Hamas began in January 2025 but collapsed in March. On June 13, Israel launched a pre-emptive strike on Iran, prompting retaliatory missile and drone attacks. A ceasefire between Israel and Iran was reached on June 23, though its durability remains uncertain. The scope and severity of ongoing conflicts in Gaza, Northern Israel, Lebanon, Iran, and the broader region are unpredictable and could escalate further. 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, Mr. Yair Malca, Chief Financial Officer will host a conference call today, July 30, 2025, at 8:30 a.m. Eastern Time to discuss the second quarter 2025 financial results.

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

<u>https://dpregister.com/sreg/10201337/ff895a1432</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=LXTC7h0D</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 replay of the conference call will be available from July 30, 2025, at 12 p.m. Eastern Time to August 13, 2025, at 11:59 p.m. Eastern Time. To access the replay, please dial one of the following numbers:

**Replay Dial-in U.S TOLL-FREE:** 1-877-344-7529

**Replay Dial-in Canada TOLL-FREE: 1-**855-669-9658

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

**Replay Pin Number**: 4085483

#### 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
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 2025 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 future 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> June 30,** | **Three months ended<br> June 30,** | **Six months ended<br> June 30,** | **Six months ended<br> June 30,** |
|  | **2025** | **2024** | **2025** | **2024** |
| **REVENUES** | 95602 | 86449 | 173476 | 166733 |
| **COST OF REVENUES** | 19152 | 17116 | 36115 | 33481 |
| **GROSS PROFIT** | **76450** | **69333** | **137361** | **133252** |
| **OPERATING EXPENSES:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Research and development | 3372 | 3698 | 6267 | 7216 |
| &nbsp;&nbsp;&nbsp; Sales and marketing | 47474 | 45055 | 87201 | 84850 |
| &nbsp;&nbsp;&nbsp; General and administrative | 2723 | 2266 | 5394 | 4780 |
| **TOTAL OPERATING EXPENSES** | 53569 | 51019 | 98862 | 96846 |
| **OPERATIONS INCOME** | **22881** | **18314** | **38499** | **36406** |
| &nbsp;&nbsp;&nbsp; Finance income, net | 8062 | 8690 | 14921 | 16674 |
| **INCOME BEFORE INCOME TAXES** | **30943** | **27004** | **53420** | **53080** |
| **INCOME TAXES** | 4201 | 3186 | 8477 | 5566 |
| **NET INCOME** | **26742** | **23818** | **44943** | **47514** |
| **EARNINGS PER SHARE:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Basic | 0.42 | 0.28 | 0.68 | 0.56 |
| &nbsp;&nbsp;&nbsp; Diluted | 0.42 | 0.28 | 0.68 | 0.55 |
| **WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING USED IN COMPUTATION OF EARNINGS PER SHARE (in thousands)** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Basic | 63252 | 83878 | 65982 | 84205 |
| &nbsp;&nbsp;&nbsp; Diluted | 63637 | 85890 | 66540 | 86520 |

---

------

CONDENSED CONSOLIDATED BALANCE SHEETS

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

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | **June 30,**<br> **2025** | **December 31,**<br> **2024** |
| **Assets** | | |
| &nbsp;&nbsp;&nbsp; **CURRENT ASSETS:** | | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cash and cash equivalents | 216237 | 155329 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Marketable securities | 183388 | 267688 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-term bank deposits | 111058 | 173455 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accounts receivable, net of allowance for credit losses | 35654 | 36335 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Prepaid expense and other receivables | 24334 | 22097 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Inventories | 68110 | 59548 |
| **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TOTAL CURRENT ASSETS** | 638781 | 714452 |
| **&nbsp;&nbsp;&nbsp;&nbsp;NON-CURRENT ASSETS:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accounts receivable, net of allowance for credit losses | 2545 | 3176 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred income tax asset | 54763 | 56285 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Operating lease right-of-use assets | 9299 | 8732 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Property and equipment, net | 2260 | 2322 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other investments | 700 | 700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL NON-CURRENT ASSETS** | 69567 | 71215 |
| **TOTAL ASSETS** | 708348 | 785667 |
| **Liabilities and shareholders' equity** |  |  |
| &nbsp;&nbsp;&nbsp; **CURRENT LIABILITIES:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accounts payable | 17482 | 13782 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Contract liabilities | 12996 | 16755 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other liabilities | 36056 | 39314 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL CURRENT LIABILITIES** | 66534 | 69851 |
| **&nbsp;&nbsp;&nbsp;&nbsp;NON-CURRENT LIABILITIES:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Contract liabilities | 3355 | 3336 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other liabilities | 3919 | 3356 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Operating lease liabilities | 6103 | 5311 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL NON-CURRENT LIABILITIES** | 13377 | 12003 |
| **TOTAL LIABILITIES** | 79911 | 81854 |
| **TOTAL SHAREHOLDERS' EQUITY** | 628437 | 703813 |
| **TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY** | 708348 | 785667 |

---

------

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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

(Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three months ended<br> June 30,** | **Three months ended<br> June 30,** | **Six months ended<br> June 30,** | **Six months ended<br> June 30,** |
|  | 2025 | 2024 | 2025 | 2024 |
| **CASH FLOWS FROM OPERATING ACTIVITIES:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net income | 26742 | 23818 | 44943 | 47514 |
| &nbsp;&nbsp;&nbsp; Adjustments required to reconcile net income to net cash provided by operating activities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Depreciation and amortization | 191 | 177 | 365 | 342 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Share-based compensation expenses | 3418 | 5158 | 5936 | 9141 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in allowance for credit losses of trade receivable | 147 | 97 | 53 | 284 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loss on marketable securities, net | 5 | 112 | 3 | 141 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Finance income, net | (313) | (5040) | (1887) | (9797) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred income taxes | 566 | (56) | 1462 | (93) |
| &nbsp;&nbsp;&nbsp; Changes in operating assets and liabilities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Decrease (increase) in accounts receivable | (3285) | (4814) | 1259 | 4494 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Decrease (increase) in other receivables | 1276 | (4048) | (2256) | (6717) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Increase in inventories | (4329) | (1025) | (8562) | (7532) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Increase in accounts payable | 2430 | 2325 | 3700 | 1582 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Increase (decrease) in other liabilities | 127 | 2241 | (3160) | (5562) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Increase (decrease) in contract liabilities (current and non-current) | (2903) | 23114 | (3740) | 32376 |
| Net cash provided by operating activities | 24072 | 42059 | 38116 | 66173 |
| **CASH FLOWS FROM INVESTING ACTIVITIES:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Investment in short-term deposits | (25000) | (55000) | (25000) | (86297) |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from short-term deposits | 55000 | 13500 | 86297 | 13500 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Purchase of fixed assets | (219) | (246) | (304) | (358) |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Purchase of marketable securities | - | (64129) | (20877) | (185693) |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from sale of marketable securities | - | 33910 | 3003 | 47375 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from maturity of marketable securities | 41875 | 89690 | 104022 | 181808 |
| Net cash provided by (used in) investing activities | 71656 | 17725 | 147141 | (29665) |
| &nbsp;&nbsp;&nbsp; **CASH FLOWS FROM FINANCING ACTIVITIES:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Repurchase of ordinary shares | (27484) | (88980) | (127444) | (88980) |
| &nbsp;&nbsp;&nbsp;&nbsp; Exercise of options | 505 | 395 | 999 | 629 |
| Net cash used in financing activities | (26979) | (88585) | (126445) | (88351) |
| **EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS** | 1540 | (132) | 2096 | (571) |
| **NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS** | 70289 | (28933) | 60908 | (52414) |
| **CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD** | 145948 | 120930 | 155329 | 144411 |
| **CASH AND CASH EQUIVALENTS AT END OF PERIOD** | 216237 | 91997 | 216237 | 91997 |

---

------

CONDENSED CONSOLIDATED FINANCIAL HIGHLIGHTS

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

(Unaudited)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Three months ended June 30, | Three months ended June 30, | Three months ended June 30, | Three months ended June 30, | **Six months ended June 30,** | **Six months ended June 30,** | **Six months ended June 30,** | **Six months ended June 30,** |
|  | **2025** | **2025** | **2024** | **2024** | **2025** | **2025** | **2024** | **2024** |
| **Revenues by Category:** |  |  |  |  |  |  |  |  |
| Capital Equipment revenues - United States | 40653 | 42% | 34799 | 41% | 70195 | 40% | 65658 | 39% |
| Capital Equipment revenues - International | 35133 | 37% | 30606 | 35% | 63266 | 37% | 57529 | 35% |
| **Total Capital Equipment revenues** | **75786** | **79%** | **65405** | **76%** | **133461** | **77%** | **123187** | **74%** |
| Consumables and service revenues | 19816 | 21% | 21044 | 24% | 40015 | 23% | 43546 | 26% |
| **Total Revenue** | 95602 | 100% | 86449 | 100% | 173476 | 100% | 166733 | 100% |

---

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Three months ended June 30, | Three months ended June 30, | Three months ended June 30, | Three months ended June 30, | Three months ended June 30, | Three months ended June 30, | Six months ended June 30, | Six months ended June 30, | Six months ended June 30, | Six months ended June 30, | Six months ended June 30, | Six months ended June 30, |
|  | 2025 | 2025 | 2025 | 2024 | 2024 | 2024 | 2025 | 2025 | 2025 | 2024 | 2024 | 2024 |
|  | % | % | % | % | % | % | % | % | % | % | % | % |
|  | United States | International | Total | United States | International | Total | United States | International | Total | United States | International | Total |
| **Revenues by Technology:** |  |  |  |  |  |  |  |  |  |  |  |  |
| Minimal-Invasive | 73 | 82 | **78** | 85 | 86 | **87** | 82 | 81 | **81** | 87 | 84 | **86** |
| Hands-Free | 4 | 2 | **3** | 11 | 4 | **7** | 3 | 2 | **3** | 9 | 3 | **6** |
| Non-Invasive | 23 | 16 | 19 | 4 | 10 | 6 | 15 | 17 | 16 | 4 | 13 | 8 |
|  | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |

---

------

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>Three months ended June 30, 2025 | <br>Three months ended June 30, 2025 | <br>Three months ended June 30, 2025 | <br>Three months ended June 30, 2024 | <br>Three months ended June 30, 2024 | <br>Three months ended June 30, 2024 |
|  | GAAP | Share Based<br> Compensation | Non-GAAP | <br>**GAAP** | <br>**Share Based<br> Compensation** | <br>**Non-GAAP** |
| **REVENUES** | 95602 | **-** | 95602 | 86449 | **-** | 86449 |
| **COST OF REVENUES** | 19152 | (334) | 18818 | 17116 | (471) | 16645 |
| **GROSS PROFIT** | **76450** | **334** | **76784** | **69333** | **471** | **69804** |
| **OPERATING EXPENSES:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Research and development | 3372 | (287) | 3085 | 3698 | (559) | 3139 |
| &nbsp;&nbsp;&nbsp; Sales and marketing | 47474 | (2529) | 44945 | 45055 | (3824) | 41231 |
| &nbsp;&nbsp;&nbsp; General and administrative | 2723 | (268) | 2455 | 2266 | (304) | 1962 |
| **TOTAL OPERATING<br> EXPENSES** | <br> **53569**<br>| (3084) | 50485 | <br> **51019**<br>| (4687) | <br> **46332**<br>|
| **OPERATIONS INCOME** | 22881 | **3418** | **26299** | **18314** | **5158** | **23472** |
| &nbsp;&nbsp;&nbsp; Finance income, net | <br> 8062<br>| - | 8062 | <br> 8690<br>| <br> -<br>| <br> 8690<br>|
| **INCOME BEFORE INCOME TAXES** | 30943 | 3418 | 34361 | 27004 | 5158 | 32162 |
| **INCOME TAXES** | 4201 | 21 | 4222 | 3186 | - | 3186 |
| **NET INCOME** | 26742 | 3397 | 30139 | 23818 | 5158 | 28976 |
| **EARNINGS PER SHARE:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Basic | 0.42 |  | 0.48 | <br> 0.28<br>|  | <br> 0.35<br>|
| &nbsp;&nbsp;&nbsp; Diluted | 0.42 |  | 0.47 | 0.28 |  | 0.34 |
| **WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING USED IN COMPUTATION OF EARNINGS PER SHARE (in thousands)** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Basic | 63252 |  | 63252 | 83878 |  | 83878 |
| &nbsp;&nbsp;&nbsp; Diluted | 63637 |  | 64537 | 85890 |  | 85900 |

---

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | <br> **Six months ended June 30, 2025** | <br> **Six months ended June 30, 2025** | <br> **Six months ended June 30, 2025** | **Six months ended June 30, 2024** | **Six months ended June 30, 2024** | **Six months ended June 30, 2024** |
|  | GAAP | Share Based<br> Compensation | Non-GAAP | GAAP | Share Based<br> Compensation | Non-GAAP |
| **REVENUES** | 173476 | **-** | 173476 | 166733 | **-** | 166733 |
| **COST OF REVENUES** | 36115 | (644) | 35471 | 33481 | (880) | 32601 |
| **GROSS PROFIT** | **137361** | **644** | **138005** | **133252** | **880** | **134132** |
| **OPERATING EXPENSES:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Research and development | 6267 | (509) | 5758 | 7216 | (987) | 6229 |
| &nbsp;&nbsp;&nbsp; Sales and marketing | 87201 | (4292) | 82909 | 84850 | (6707) | 78143 |
| &nbsp;&nbsp;&nbsp; General and administrative | 5394 | (491) | 4903 | 4780 | (567) | 4213 |
| **TOTAL OPERATING<br> EXPENSES** | 98862 | (5292) | 93570 | 96846 | (8261) | 88585 |
| **OPERATIONS INCOME** | **38499** | **5936** | **44435** | **36406** | **9141** | **45547** |
| &nbsp;&nbsp;&nbsp; Finance income, net | 14921 | - | 14921 | 16674 | - | 16674 |
| **INCOME BEFORE INCOME TAXES** | 53420 | 5936 | 59356 | 53080 | 9141 | 62221 |
| **INCOME TAXES** | 8477 | (655) | 7822 | 5566 | - | 5566 |
| **NET INCOME** | **44943** | **6591** | **51534** | **47514** | **9141** | **56655** |
| **EARNINGS PER<br> SHARE:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Basic | 0.68 |  | 0.78 | 0.56 |  | 0.67 |
| &nbsp;&nbsp;&nbsp; Diluted | 0.68 |  | 0.77 | 0.55 |  | 0.65 |
| **WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING USED IN COMPUTATION OF EARNINGS PER SHARE (in thousands)** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Basic | 65982 |  | 65982 | 84205 |  | 84205 |
| &nbsp;&nbsp;&nbsp; Diluted | 66540 |  | 67052 | 86520 |  | 86531 |

---

------