1. The **Allergan (Botox/Juvederm maker)** of aesthetic medical devices.

2. The **Intuitive Surgical (robotic surgery systems maker)** for minimally-invasive aesthetic treatments.

• Morpheus8: A fractional radiofrequency microneedling device designed for subdermal adipose remodeling, improving skin texture and tone.
• BodyTite, FaceTite, AccuTite (RFAL Technology): Minimally invasive radiofrequency-assisted lipolysis (RFAL) devices used for fat reduction and skin tightening on various body and facial areas.
• Evoke: A non-invasive, hands-free radiofrequency device used for facial remodeling and tightening of the cheeks, jowls, and neck.
• Evolve: A non-invasive, hands-free platform offering multiple treatments for skin tightening, fat reduction, and muscle toning across different body areas.
• DiolazeXL / Triton: Diode laser and multi-wavelength platforms specifically designed for permanent hair reduction on a variety of skin types.

InMode (INMD) Major Customers

• Plastic Surgeons' practices
• Dermatologists' practices
• Medical Spas (MedSpas)
• Obstetrician-Gynecologists' (OB/GYN) practices
• Other physicians and clinics incorporating aesthetic procedures into their offerings

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Moshe Mizrahy, Chief Executive Officer and Chairman of the Board

Moshe Mizrahy co-founded InMode in 2008 and has served as CEO and director since its inception. Previously, he co-founded and served as Chief Executive Officer of Syneron Medical Ltd., a medical aesthetic device company. Syneron Medical Ltd., a company he co-founded and led, was later acquired by Candela Corporation. He also served as the former Chief Executive Officer of Home Skinovations Ltd., an international medical aesthetic consumer devices company, and was Chairman of its board until 2023. Mr. Mizrahy holds a B.S. in Engineering and an MBA from Pace University, New York.

Yair Malca, Chief Financial Officer

Yair Malca has served as InMode's Chief Financial Officer since 2017. His previous roles include Director of Finance for Jazz Semiconductor, Inc. from 2013 to 2017, Controller of Syneron from 2008 to 2013, Assistant Controller of EZchip Semiconductor from 2007 to 2008, and subsidiary controller of Bermad from 2005 to 2007. He began his career in public accounting at Ernst & Young from 2002 to 2005. Mr. Malca holds a B.A. in Accounting and Economics from Haifa University and an MBA from Tel Aviv University, and is a Certified Public Accountant in Israel.

Dr. Michael Kreindel, Chief Technology Officer

Dr. Michael Kreindel co-founded InMode in 2008 and has served as its Chief Technology Officer since inception. He previously co-founded and served as Chief Technology Officer of Syneron Medical Ltd. from 2001 to 2007. Dr. Kreindel also founded SunSoul, Inc., which develops and manufactures skin care products. He is an industry leader in innovative aesthetics treatments, pioneering Intense Pulse Light, Radiofrequency, infrared heat, LED Red light, and Blue light technologies. Dr. Kreindel has a Ph.D. in physics and mathematics and graduated as an engineer and physicist in experimental and theoretical nuclear physics from Ural Polytechnical Institute, Russia.

Shakil Lakhani, President, North America

Shakil Lakhani has served as the President of InMode's North America division since 2017. Prior to this role, he was the Executive Vice President of Sales for North America since February 2017. He began his career in 2006 with Cynosure Inc., where he held various positions, including Director of Sales from September 2013 through January 2017. Mr. Lakhani graduated with a B.A. from the University of Waterloo.

Nava Tal-Launer, Chief Information Officer

Nava Tal-Launer is InMode's Chief Information Officer, responsible for global IT operations. She brings 25 years of executive experience in information systems, processes, and their implementation throughout an organization. Ms. Tal-Launer received a BSc in Applied Mathematics from Technion – Israel Institute of Technology and holds an MBA in IT Management from Tel Aviv University.

InMode (INMD) operates within the dynamic medical aesthetics market, offering minimally invasive and non-invasive aesthetic medical products across several categories. The addressable markets for its main products and services are substantial and show significant growth projections globally.

• Global Medical Aesthetics Market: This overarching market, where InMode's diverse product portfolio competes, was projected to reach approximately $15.9 billion by 2025, growing from $9.4 billion in 2020 at a Compound Annual Growth Rate (CAGR) of 10.9%. More recent projections indicate the global medical aesthetic devices market could grow from $18.6 billion in 2023 to $38.9 billion in 2030, demonstrating a CAGR of 9.6%.
• Global Non-invasive Aesthetic Treatment Market: InMode's non-invasive treatments contribute to this market, which grew at a CAGR of 11% from 2014 to 2021 globally. Specifically, the non-invasive aesthetic treatment market in the United States alone exceeded $10 billion in 2025. Globally, this market is projected to reach $25.62 billion by 2030 from $15.23 billion in 2025, with a CAGR of 10.93%.
• Global Aesthetic Device Market: This market, encompassing InMode's energy-based aesthetic devices that utilize radiofrequency (RF) technology, was valued at $17 billion in 2021 and is expected to reach $44 billion by 2029, growing at a 13% CAGR. The global radiofrequency aesthetic device market specifically was valued at $1.3 billion in 2022 and is projected to grow to $3.7 billion by 2031, at a 12% CAGR.
• Global Body Contouring Devices Market: InMode is a significant player in the body contouring devices market, which is projected to reach $3.00 billion by 2029 from $1.74 billion in 2024, exhibiting a CAGR of 11.4%.
• Women's Health and Wellness Market: InMode also has products, such as EmpowerRF and Votiva, addressing the women's health and wellness market. While a specific market size for InMode's women's health products was not identified in the provided search results, it represents a dedicated area of their product offerings and market expansion.

1. International Market Expansion: InMode is strategically expanding its global footprint by establishing new subsidiaries in emerging markets such as Argentina and Thailand. These expansions aim to enhance direct customer engagement and provide localized support, with initial revenue generation anticipated by the end of 2025. The company is also actively building local sales teams in these regions to foster sustainable growth. Furthermore, InMode plans to broaden its direct sales organization in existing and new markets across Europe to increase product adoption.
2. Growth in Consumables and Service Revenue: A significant driver is the consistent year-over-year increase in consumables and service revenues, particularly in markets outside the U.S. This recurring revenue stream is expected to grow substantially as the company's installed customer base expands.
3. New Product Launches and Medical Application Expansion: InMode is focused on diversifying its product portfolio by introducing new technologies and expanding into new medical applications. The company plans to launch new complementary lasers in the aesthetic market in early 2026. Additionally, it has commercialized a men's wellness platform, with revenue contributions expected later in 2025. Strategic initiatives in ophthalmology, including the development of dedicated sales teams for the Envision product and ongoing clinical studies for dry eye treatment, are also anticipated to open new revenue streams.
4. Increased Sales Presence and Customer Base Penetration: InMode intends to grow its revenue by increasing its sales presence and acquiring a larger customer base. This involves expanding its direct sales force and recruiting skilled sales representatives in both existing and new geographic territories. The company's post-sales support, including training and consulting services, is designed to foster customer loyalty and further increase its installed base, which in turn drives consumable sales.

Share Repurchases

• InMode has returned approximately $500 million to shareholders through share repurchases since the beginning of 2022, buying back nearly 30% of the company's shares at an average price of approximately $19.95 per share.
• In 2024, InMode returned $285.4 million to shareholders through share repurchases.
• In February 2025, InMode's Board of Directors approved a new share repurchase program for up to 10% of the total shares outstanding, which, combined with 2024 repurchases, represents about 27% of the company's share capital to be bought back within a 15-month period. An equity buyback announced on February 4, 2025, closed with 6,950,000 shares for $127 million.

Share Issuance

• Despite previous repurchase programs, InMode's basic shares outstanding increased from approximately 72.1 million to 83.5 million by the end of December 2023, primarily due to the company's 2018 Incentive Plan.
• In January 2021, InMode issued 62,457 ordinary shares as part of the $2.7 million acquisition of the remaining 49% stake in Guangzhou InMode Medical Technology Ltd.
• InMode's quarterly shares outstanding increased from 60.9 million in March 2025 to 63.2 million in June 2025, indicating new share issuances during that period.

Outbound Investments

• In January 2021, InMode completed the acquisition of the remaining 49% stake in Guangzhou InMode Medical Technology Ltd. for $2.7 million, paid via the issuance of 62,457 ordinary shares.
• As of July 2025, InMode's CEO stated that there were no acquisitions in the pipeline.

Capital Expenditures

• InMode's capital expenditures were approximately $0.94 million in 2021, $1.58 million in 2022, $0.71 million in 2023, and $0.67 million in 2024.
• Expected capital expenditures for 2025 are $0.756 million, rising to $0.8926 million in 2026 and $0.9858 million in 2027.
• Capital expenditures primarily focus on the purchase of molds for manufacturing. InMode generally maintains very low capital expenditures, reflecting its asset-light business model and strong free cash flow generation.