INMD 6-K, filed Feb 18, 2020, 0001178913-20-000539

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

    PURSUANT TO RULE 13a-16 OR 15d-16 OF

    THE SECURITIES EXCHANGE ACT OF 1934

For the month of February 2020

INMODE LTD.

(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 ⌧

On February 18, 2020, InMode Ltd. announced its fourth quarter and full year 2019 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		Press Release dated February 18, 2020

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:	/s/ Moshe Mizrahy
		Moshe Mizrahy
		Chief Executive Officer and Chairman of<br><br> <br>The Board of Directors
Dated February 18, 2020

Exhibit 99.1

InMode Reports Record Fourth Quarter and Full Year 2019 Financial Results

Quarterly Revenues of $47 Million Represent 63% Year over Year Growth

YOKNEAM, Israel, February 18, 2020/ PRNewswire/-- InMode Ltd. (Nasdaq: INMD) (“InMode”), a leading global provider of innovative medical technologies, today announced financial results for the fourth quarter and full year ended December 31, 2019.

Fourth Quarter 2019 Highlights:

•	Record quarterly revenue of $47 million, an increase of 63% compared to the fourth quarter in 2018
•	GAAP net income attributable to InMode Ltd. of $19.0 million, compared to a $0.2 million loss attributable to InMode Ltd. in the fourth quarter in 2018; *non-GAAP net income attributable to<br> InMode Ltd. of $19.3 million
•	GAAP and *non-GAAP fully diluted earnings per share of $0.46
•	Total cash position of $193.4 million as of December 31, 2019, including cash and cash equivalents, marketable securities and short-term bank deposits

Full Year 2019 Highlights:

•	Record full year revenue of $156.4 million, an increase of 56% as compared to 2018
•	GAAP net income attributable to InMode Ltd. of $61.1 million, a 173% increase year-over-year; *non-GAAP net income attributable to InMode Ltd. of $62.4 million, a 95% increase year-over-year
•	GAAP fully diluted earnings per share of $1.60, an increase of 158% as compared to 2018; *non-GAAP fully diluted earnings per share of $1.63, an increase of 81% year-over-year
•	68% increase in international (non-U.S.) revenue as compared to 2018
U.S. GAAP Results<br><br> <br>(U.S. dollars in thousands, except for per share data)
---	---	---	---	---	---	---	---	---	---	---	---	---
	Q4 2019			Q4 2018			FY 2019			FY 2018
Revenues	$	47,002		$	28,783		$	156,361		$	100,162
Gross Margins		87	%		86	%		87	%		85	%
Net Income (Loss) Attributable to InMode Ltd.	$	19,038		$	(213	)	$	61,145		$	22,371
Earnings (Loss) per Diluted Share	$	0.46		$	(0.01	)	$	1.60		$	0.62
Non-GAAP Results<br><br> <br>(U.S. dollars in thousands, except for per share data)
---	---	---	---	---	---	---	---	---
	Q4 2019		Q4 2018		FY 2019		FY 2018
Net Income Attributable to InMode Ltd.	$	19,311	$	7,826	$	62,390	$	31,916
Earnings per Diluted Share	$	0.46	$	0.22	$	1.63	$	0.90

*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 part of this release. Non-GAAP results exclude stock-based compensation, legal settlements and loss contingencies related to sublicense agreement, as well as related tax adjustments.

Management Comments

In 2015, the U.S. Food and Drug Administration (“FDA”) cleared InMode’s new and proprietary Bipolar Radio Frequency technology, which enabled further development and marketing of Subdermal Adipose Remodeling Devices (SARD – BodyTite, FaceTite, AccuTite and Morpheus8). With this new technology, InMode introduced a new category: “Minimally Invasive and Subdermal Ablative Aesthetic Surgery”, that enables physicians to provide solutions to patients that do not want to suffer from the shortcomings of full plastic surgery yet would like to obtain comparable results (“Treatment Gap patients”).

The success of InMode's Subdermal Adipose Remodeling Devices (SARD) in the minimally invasive and subdermal ablative space inspired InMode to apply the same principles of facial and body reshaping to the non-invasive market in a hands-free application. As such, InMode developed two FDA-cleared distinct hands-free platforms: the Evolve for body and the Evoke for face.

The introduction of Evolve and Evoke to the market created yet another new category within the aesthetic market: “Hands-Free Aesthetic Procedures.” Currently, these two proprietary and protected categories (aesthetic surgery and hands-free aesthetic procedures) are expected to be the primary growth engines for InMode in the coming years.

As for global reach - InMode continues to develop the U.S. and international markets through its network of subsidiaries and distributors. In addition, InMode continues to work on clinical and obtaining regulation approval in various countries, recently receiving ANVISA clearance from Brazil, and additional approvals in the U.S. (FDA), Canada, Taiwan and other countries in Eastern Europe.

2020 Financial Outlook

Management provided an outlook for the full year of 2020, the period ending December 31, 2020. Based on current estimates, management expects:

●	$190 million to $198 million in revenue
●	85%-87% in Gross Margins
---	---
●	*Non-GAAP Income from Operations - $76 million to $80 million
---	---
●	*Non-GAAP Earnings per Diluted Share - $1.85 - $1.93
---	---

This outlook is not guarantee of future performance and stockholders should not place under reliance on such forward-looking statements. See “Forward-Looking Statements” for additional information.

Fourth Quarter 2019 Financial Results

Total revenues for the fourth quarter of 2019 were $47.0 million, an increase of 63% as compared to the fourth quarter in 2018. This growth was driven primarily by the continued expansion of InMode’s direct sales organization in the United States. Additionally, InMode continued to gain traction in international markets, with international revenue growing 71% year-over-year.

Gross margin for the fourth quarter of 2019 was 87% compared to a gross margin of 86% in the fourth quarter of 2018.

GAAP operating margin for the fourth quarter of 2019 was 38%, compared to 5% in the fourth quarter of 2018. *Non-GAAP operating margin for the fourth quarter of 2019 was 39%, compared to 33% in the fourth quarter of 2018. This increase is primarily attributable to the increase in our gross profit exceeding the increase in our operating expenses as a result of the company’s accelerated growth.

InMode reported GAAP net income attributable to InMode Ltd. of $19.0 million, or $0.46 per diluted share in the fourth quarter of 2019. This is compared with GAAP net loss attributable to InMode Ltd. of $(0.2) million, or $(0.01) per diluted share, in the fourth quarter of 2018. The loss in the fourth quarter of 2018 was due to a one-time provision for a settlement agreement InMode entered into in January 2019. On a *non-GAAP basis, InMode reported net income attributable to InMode Ltd. of $19.3 million, or $0.46 per diluted share in the fourth quarter of 2019 compared to $7.8 million, or $0.22 per diluted share, in the fourth quarter of 2018.

Full Year 2019 Financial Results

Total revenues for 2019 were $156.4 million, an increase of 56% as compared to 2018. This growth was driven primarily by the continued expansion of InMode’s direct sales organization in the United States. In addition, InMode has been gaining traction in international markets, with international revenue growing 68% year-over-year.

Gross margin for 2019 was 87% compared to a gross margin of 85% in 2018.

GAAP operating margin for 2019 was 38%, compared to the operating margin of 23% in 2018. *Non-GAAP operating margin for 2019 was 39%, compared to the operating margin of 33% in the full year of 2018. InMode reported GAAP net income attributable to InMode Ltd. of $61.1 million, or $1.60 per diluted share in 2019. This is compared with GAAP net income attributable to InMode Ltd of $22.4 million, or $0.62 per diluted share, in 2018. On a *non-GAAP basis, InMode reported net income attributable to InMode Ltd. of $62.4 million, or $1.63 per diluted share, in the full year of 2019 compared to net income attributable to InMode Ltd. of $31.9 million, or $0.90 per diluted share, in the full year of 2018.

As of December 31, 2019, InMode had cash and cash equivalents, marketable securities and short-term bank deposits of $193.4 million, of which approximately $70 million in net proceeds were raised in InMode’s initial public offering.

Use of Non-GAAP Financial Measures

In addition to InMode’s operating results presented in accordance with GAAP, this release includes certain non-GAAP financial measures including non-GAAP net income, non-GAAP fully diluted earnings per share and non-GAAP operating margin. Because these measures are used in InMode’s internal analysis of financial and operating performance, management believes that they provide greater transparency to investors of management's 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 the performance of InMode to that of its peers, although InMode’s presentation of its non-GAAP measures may not be comparable to other similarly-titled measures of other companies. Schedules reconciling each of these non-GAAP financial measures are provided as a supplement to this release. We have not provided a reconciliation of non-GAAP financial measures included in “2020 Financial Outlook” to the corresponding GAAP financial measure on a forward-looking basis due to the potential variability, limited visibility and unpredictability.

Conference Call Information

Mr. Moshe Mizrahy, Chairman and Chief Executive Officer, and Mr. Yair Malca, Chief Financial Officer, will host a conference call today, February 18, 2020, at 9 a.m. Eastern Time.

To attend the conference call, please dial one of the following teleconferencing numbers. Please begin by placing your call five 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: 1-866-777-2509

Israel Toll- Free Dial-in Number: 1-80-921-2373

International Dial-in Number: 1-412-317-5413

At:

9 a.m. Eastern Time

6 a.m. Pacific Time

4 p.m. Israel Time

The conference call will also be webcast live from a link on InMode's website at https://inmodemd.com/investors/. A replay of the conference call will be available from February 18, 2020 at 12 p.m. Eastern Time to March 3, 2020 at 11:59 p.m. Eastern Time. To access the replay, please dial one of the following numbers:

Replay Dial-in TOLL-FREE: 1-877-344-7529

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

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

Replay Pin Number: 10137694

A replay will also be available for 90 days on InMode's website at https://inmodemd.com/investors/.

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 www.inmodemd.com.

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 future performance described “2020 Financial Outlook”. 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, strategy 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. As a result, 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 contained in our prospectus (included in the Registration Statement on Form F-1, filed with the Securities and Exchange Commission (File No. 333-232615), as amended) 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 speak only as of the date of this press release.

Company Contact:<br><br> <br>Yair Malca<br><br> <br>Chief Financial Officer<br><br> <br>Phone: (949) 305-0108<br><br> <br>Email: Yair.Malca@inmodemd.com	Investor Relations Contact:<br><br> <br>Miri Segal<br><br> <br>MS-IR LLC<br><br> <br>Phone: (917) 607-8654<br><br> <br>Email: ir@inmodemd.com

INMODE LTD.

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

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

(Unaudited)

	Three months ended<br><br> December 31,						Year Ended<br><br> December 31,
	2019			2018			2019		2018
REVENUES		47,002			28,783			156,361		100,162
COST OF REVENUES		6,045			3,939			20,238		15,057
GROSS PROFIT		40,957			24,844			136,123		85,105
OPERATING EXPENSES:
Research and development		1,587			1,354			5,699		4,180
Sales and marketing		20,127			12,521			66,848		44,622
General and administrative		1,265			1,656			3,958		4,814
Legal settlements and loss contingencies		-			8,000			-		8,000
TOTAL OPERATING EXPENSES		22,979			23,531			76,505		61,616
INCOME FROM OPERATIONS		17,978			1,313			59,618		23,489
Finance income (expenses), net		1,159			(487	)		2,423		136
INCOME BEFORE TAXES		19,137			826			62,041		23,625
INCOME TAXES		165			1,045			883		1,260
NET INCOME		18,972			(219	)		61,158		22,365
Less: Net income (loss) attributable to non-controlling interests		(66	)		(6	)		13		(6	)
NET INCOME (LOSS) ATTRIBUTABLE TO INMODE LTD.		19,038			(213	)		61,145		22,371
NET INCOME (LOSS) PER SHARE (1):
Basic		0.58			(0.01	)		2.09		0.82
Diluted		0.46			(0.01	)		1.60		0.62
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING USED IN COMPUTATION OF NET INCOME PER SHARE (1)
Basic		32,781			26,682			29,232		26,614
Diluted		41,639			35,052			38,059		35,007

(1) The number shares have been adjusted retroactively for a 1-for-1.789 stock split of InMode shares by way of an issuance of bonus shares, that occurred pursuant to a resolution of our board of directors dated July 24, 2019.

INMODE LTD.

CONDENSED CONSOLIDATED BALANCE SHEETS

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

(Unaudited)


Assets
CURRENT ASSETS:
Cash and cash equivalents	44,727	24,721
Marketable securities	120,144	26,532
Short-term bank deposits	28,491	10,045
Accounts receivable, net of allowance for doubtful accounts	6,628	7,008
Other receivables	3,810	2,495
Inventories	9,408	6,963
TOTAL CURRENT ASSETS	213,208	77,764
NON-CURRENT ASSETS:
Accounts receivable	374	544
Deferred offering costs	-	895
Deferred income taxes, net	1,899	1,309
Operating lease right-of-use assets	1,369	-
Property and equipment, net	935	544
Other investments	600	-
TOTAL NON-CURRENT ASSETS	5,177	3,292
TOTAL ASSETS	218,385	81,056
Liabilities and shareholders’ equity
CURRENT LIABILITIES:
Accounts payable	3,702	4,509
Contract liabilities	15,587	5,755
Other liabilities	13,205	9,165
Accrued contingencies	-	10,000
TOTAL CURRENT LIABILITIES	32,494	29,429
NON-CURRENT LIABILITIES:
Contract liabilities	3,813	3,982
Other liabilities	1,494	771
Operating lease liabilities	744	-
Deferred income taxes, net	37	11
TOTAL NON-CURRENT LIABILITIES	6,088	4,764
TOTAL LIABILITIES	38,582	34,193
REDEEMABLE NON-CONTROLLING INTEREST	-	2,187
TOTAL SHAREHOLDERS’ EQUITY	179,803	44,676
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	218,385	81,056

INMODE LTD.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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

(Unaudited)

	Three months ended<br><br> December 31,						Year Ended<br><br> December 31,
	2019			2018			2019			2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)		18,972			(219	)		61,158			22,365
Adjustments required to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		88			53			302			184
Share-based compensation expenses		358			181			1,557			1,947
Allowance for doubtful accounts		(55	)		10			78			(33	)
Loss (gains) on marketable securities, net		3			101			3			(21	)
Changes in fair value of marketable securities, net		-			504			-			291
Finance income, net		(440	)		(45	)		(835	)		(45	)
Deferred income taxes, net		(383	)		(424	)		(594	)		(592	)
Changes in operating assets and liabilities:
Decrease (increase) in accounts receivable		1,046			(191	)		449			(571	)
Increase in other receivables		(666	)		(1,100	)		(1,316	)		(1,171	)
Increase in inventories		(913	)		(1,352	)		(2,445	)		(1,891	)
Increase (decrease) in accounts payable		(667	)		21			92			541
Increase in other liabilities		1,676			2,898			4,094			2,631
Increase in contract liabilities		8,400			1,024			9,663			5,251
Increase (decrease) in accrued contingencies		-			8,000			(10,000	)		8,000
Net cash provided by operating activities		27,419			9,461			62,206			36,886
CASH FLOWS FROM INVESTING ACTIVITIES:
Investment in short-term deposit		(13,500	)		(5,000	)		(47,810	)		(10,000	)
Proceeds from short-term deposit		11,000			-			29,500			-
Purchase of fixed assets		(175	)		(88	)		(693	)		(381	)
Other investments		(600	)		-			(600	)		-
Purchase of marketable securities		(82,802	)		(15,800	)		(165,423	)		(38,346	)
Proceeds from sale of marketable securities		54,471			15,576			72,574			18,988
Net cash (used in) investing activities		(31,606	)		(5,312	)		(112,452	)		(29,739	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from initial public offering of ordinary shares, net of offering costs		-			-			69,784			-
Exercise of options		74			10			389			186
Net cash provided by financing activities		74			10			70,173			186
EFFECT OF EXCHANGE RATE CHANGES ON CASH		135			(64	)		79			(205	)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(3,978	)		4,095			20,006			7,128
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD		48,705			20,626			24,721			17,593
CASH AND CASH EQUIVALENTS AT END OF PERIOD		44,727			24,721			44,727			24,721

INMODE LTD.

CONDENSED CONSOLIDATED FINANCIAL HIGHLIGHTS

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

(Unaudited)

	Three months ended<br><br> December 31,						Year Ended<br><br> December 31,
	2019			2018			2019			2018
Revenues by Geography:
United States		36,386			22,565			124,199			81,063
International		10,616			6,218			32,162			19,099
Total Net Revenue		47,002			28,783			156,361			100,162
U.S. as percentage of total revenue		77	%		78	%		79	%		81	%

INMODE LTD.

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, 2019									Three months ended December 31, 2018
	GAAP			Stock Based<br><br> Compensation			Non-GAAP			GAAP			Stock Based<br><br> Compensation			Legal settlements and loss contingencies			Non-GAAP
REVENUES		47,002			-			47,002			28,783			-			-			28,783
COST OF REVENUES		6,045			(32	)		6,013			3,939			(2	)		-			3,937
GROSS PROFIT		40,957			32			40,989			24,844			2			-			24,846
OPERATING EXPENSES:
Research and development		1,587			(13	)		1,574			1,354			(52	)		-			1,302
Sales and marketing		20,127			(271	)		19,856			12,521			(114	)		-			12,407
General and administrative		1,265			(42	)		1,223			1,656			(13	)		-			1,643
Legal settlements and loss contingencies		-			-			-			8,000			-			(8,000	)		-
TOTAL OPERATING EXPENSES		22,979			(326	)		22,653			23,531			(179	)		(8,000	)		15,352
INCOME FROM OPERATIONS		17,978			358			18,336			1,313			181			8,000			9,494
Finance income (expenses), net		1,159			-			1,159			(487	)		-			-			(487	)
INCOME BEFORE TAXES		19,137			358			19,495			826			181			8,000			9,007
INCOME TAXES		165			85			250			1,045			142			-			1,187
NET INCOME (LOSS)		18,972			273			19,245			(219	)		39			8,000			7,820
Less: Net income (loss) attributable to non-controlling interests		(66	)		-			(66	)		(6	)		-			-			(6	)
NET INCOME (LOSS) ATTRIBUTABLE TO INMODE LTD.		19,038			273			19,311			(213	)		39			8,000			7,826
NET INCOME (LOSS) PER SHARE (1):
Basic		0.58						0.59			(0.01	)								0.29
Diluted		0.46						0.46			(0.01	)								0.22
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING USED IN COMPUTATION OF NET INCOME PER SHARE (1)
Basic		32,781						32,781			26,682									22,682
Diluted		41,639						41,657			35,052									35,080

(1) The number of shares have been adjusted retroactively for a 1-for-1.789 stock split of InMode shares by way of an issuance of bonus shares, that occurred pursuant to a resolution of our board of directors dated July 24, 2019

INMODE LTD.

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)

	Year Ended December 31, 2019							Year Ended December 31, 2018
	GAAP		Stock Based<br><br> Compensation			Non-GAAP		GAAP			Stock Based<br><br> Compensation			Legal settlements and loss contingencies			Non-GAAP
REVENUES		156,361		-			156,361		100,162			-			-			100,162
COST OF REVENUES		20,238		(94	)		20,144		15,057			(25	)		-			15,032
GROSS PROFIT		136,123		94			136,217		85,105			25			-			85,130
OPERATING EXPENSES:
Research and development		5,699		(179	)		5,520		4,180			(63	)		-			4,117
Sales and marketing		66,848		(1,158	)		65,690		44,622			(1,817	)		-			42,805
General and administrative		3,958		(126	)		3,832		4,814			(42	)		-			4,772
Legal settlements and loss contingencies		-		-			-		8,000			-			(8,000	)		-
TOTAL OPERATING<br><br> EXPENSES		76,505		(1,463	)		75,042		61,616			(1,922	)		(8,000	)		51,694
INCOME FROM OPERATIONS		59,618		1,557			61,175		23,489			1,947			8,000			33,436
Finance income, net		2,423		-			2,423		136			-			-			136
INCOME BEFORE TAXES		62,041		1,557			63,598		23,625			1,947			8,000			33,572
INCOME TAXES		883		312			1,195		1,260			402			-			1,662
NET INCOME		61,158		1,245			62,403		22,365			1,545			8,000			31,910
Less: Net income (loss) attributable to non-controlling interests		13		-			13		(6	)		-			-			(6	)
NET INCOME ATTRIBUTABLE TO INMODE LTD.		61,145		1,245			62,390		22,371			1,545			8,000			31,916
NET INCOME PER<br><br> SHARE (1):
Basic		2.09					2.13		0.82									1.18
Diluted		1.60					1.63		0.62									0.90
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING USED IN COMPUTATION OF NET INCOME PER SHARE (1)
Basic		29,232					29,232		26,614									26,614
Diluted		38,059					38,085		35,007									35,058

InMode Ltd 6-K, filed Feb 18, 2020

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