InMode (INMD) 26 Oct 212021 Q3 Earnings call transcript

Company Profile

Participants

Miri Segal	President, MS-IR
Moshe Mizrahy	Chairman and CEO
Shakil Lakhani	President, North America
Yair Malca	CFO
Dr. Spero Theodorou	CMO
Travis Steed	Barclays
Matthew Taylor	UBS
Kyle Rose	Canaccord Genuity
Mike Matson	Needham & Company
Jeff Johnson	Robert W. Baird

Call transcript

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Operator

Hello and welcome to the InMode Limited Third Quarter 2021 Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions]. After today’s presentation there will be an opportunity to ask questions. [Operator Instructions]. is event today’s note being recorded. Please now Miri Segal, would like to to over conference the President turn I of MS-IR. Please go ahead.

Miri Segal

and InMode's earnings Thank today. operator thank for all you, joining Welcome to third call. XXXX quarter you us

Before statements, that this information listeners remind to certain release Safe the call. I Harbor we contain in provided this forward-looking also today's would earnings begin, may to our like call and on statement outlined pertains

from the If competitive, release, made one those you statements factors today. forward-looking have please company's results the from copy received technological, actual by differ to other business, Relations the of Investor website. not a and could in of cause the expressed materially section download Changes regulatory,

we our assurance to are them, will by Today North Our necessarily Moshe off Shakil are discuss Chairman joined statements historical Board business forward-looking of InMode's except results with over law. the Mizrahy, not obligation American operations. CEO, North InMode's give Therefore, as accuracy to Then, of as will can to President of call indicative turn we assume performance. start Lakhani, a to the us and no future America, update. by update required he no who and of

Please to CFO, over financials ahead. Moshe detail. quarter in Mizrahy. With Finally, congratulations will some go discuss Yair call of Moshe, Malca, another more pass to that, our the the quarter. record the third I'd on like

Moshe Mizrahy

our Medical Chief Spero North call. Mr. of our Dr. Rafael Michael me Theodorou, Malca, Dr. Miri Technology quarter our you today Thank VP and thank earnings and Lickerman, Shakil America; our CFO; everyone Mr. Yair our us you Finance. and With Officer; Co-Founder Chief Lakhani, our Kreindel, third joining Officer; President all, of XXXX for on are

we will for remarks Q&A Following available be session. all prepared our

third our network happy XX% and quarter growth, world market around growing to to are increase excellent collaborative of record innovative quarter last demand, the revenue employees, our of a profitable over record of $XX.X we thanks XXXX, posted report quarter same year. unique work to again an for the We our technology, the million of

We of our record A XX% XX% basis million, and indicating XX% debt revenue. the down, million, net slow $XX.X from quarter of every our and reflecting total remain our a capital growth GAAP consumable our more of quarter consumables treatment buy $X.X for over reached sales on of strong, the during closely to more our a of XX% month. year-over-year strong of continue an widespread income revenue demand third increase control equipment market the XXXX, show and perform sales Despite year. some platforms last quarter a expenses accounted at physician services acceptance representing including total same that for

groundwork strategy on $XX.X million limited currently increase. for and reflecting the quarter with total compared the compared to XX% global worth represents free technology quarter Hands RF This as the million surgical XX% invasive to again our our sales top minimally It's to XX% space. Our XXXX revenue were introduction while devices major was lay third a U.S. once that revenue will launched in is quarter two the was The noninvasive a to the of successful in we of additional to the our $XX.X market. third clients U.S. recently adopters laser contributor X%. EmpowerRF a noting focus in contributed gynecology platforms total for year. XX% reaching last of early necessary

countries is result the XX This last same new quarter compared of expand as total operate our for and the to and markets. period to expect have XX.X%, great numbers quarter. Our to year. into to that XX% compared OOW [ph] the slower for same XX% sale year a summer the grow. Total XX% We usually revenue increase what we sale were in continued outside U.S. represents rise last currently to seek

We major XXXX. which market are able hope operation a be begin in will QX subsidiary currently European to new we in establishing another exploring

ESG XXXX effort get by be We Accordingly, published protocols every activity standup Our standards plan same fourth ensure on ensure walk and industry. continue our up day and the we the comply with our subcontractors the for to ESG an prepared our which within ESG to will InMode. quarter ESG for for with website. they supplier set that

would attention turn Shakil your I America. North to like Now of Shakil. to our President

Shakil Lakhani

pleasure as revenue announce new it the two which record capital sales platforms delivered $XX to force to this In EmpowerRF. It's to is performance reached third and and a joining driving us. to Thanks a share again that launch of our breaking quarter with behind EvolveX we everyone the the of continued be equipment a just Moshe quarter million. news

the previous quarter. mentioned, continued strong the service As to consumables and from to revenue performance contribute

accelerating attendance of across bar our are our workshops, demand, acceptance. in financial support reflects record customer network existing positively interest we and Consequently, increasingly becoming market that The America, This offices our results. variations impacts the North the our educational COVID see of a expressed busy. physician of normalizing raised elevated and in newer our third protocols XXXX lot an for Despite platforms, [indiscernible] new quarter existing enhancing base.

revenue with fluctuations. instrumental insight been combined necessary fortifies to an market giving in even segments launch of effective EmpowerRF and soft us Our The different has to create grow launches us seasonal successful during strategy. of history other demand

strategy increase we events wellness community Such that As patients learn pandemic, events of the the with number our to and navigate comprehensive medical how InMode’s portfolio. person in in familiarize COVID-XX ourselves coming product the to us to months. host doctors and life allow better with the marketing of under part is

and thank like With call Finally, a in hand results. financial vital efforts indispensable dedication, operations. I'd proven I'd led Yair and that results. to over American of like record North hard ongoing very impressive the loyalty, team for our to is appreciated these much Yair. review to and the to a work for the InMode’s supporting Their performance and the that

Yair Malca

results strong quarter year-over-year more gross pandemic. new still of a recorded with financial $XX.X primarily revenues level and to demand Shakil aesthetic of revenue basis. for from stem everyone. Thanks in to from the million XX% third Total by which our XXXX we're was in QX significantly XX% as day good increased XXXX margin increase the GAAP on the The review recovery detail. like the in a of a leverage of well procedures as lower that revenue impacted COVID-XX experiencing I'd during

increased compared of approximately lower operating XXXX the million XX.X% million $XX.X third invasive results last the as On of non-invasive were compared of this operating capital remaining quarter and comparison technical and consumed year-over-year. can our representing $X.X expenses expenses Non-GAAP XX% global third the the XX% XX% increased compared successfully as in revenues quarter growth and subdermal invasive demand, to in equipment with and to quarter the third grew GAAP our to be XX%. in to year. growth significantly quarter increased $X.X business to pre-COVID technologies XXXX. era. exceptional of grew expenses marketing totaled year-over-year $XX.X customer non-GAAP quarter GAAP quarter the of third compared increase laser million and same operating XX% volume the of across accounted quarter XXXX. of XXXX, million, of third Furthermore, grew revenue for relative to basis, XXXX. XX% a which XXXX ablative well travel XX%. quarter third margin GAAP, in of third a track leading million to our industry quarter quarter expenses on achieved traditional to the based to compensation service the an of credited to operating in duplicating Minimal usual in segments record XXXX. trends, are International of treatments, the the rate XX% minimally Share quarter our results these strategy laser in XX%. non-invasive in while Our projected we U.S. same in XXXX operating $XX.X sales for margin by of the period markets. the was increase of of the QX, Despite our XXXX was third XX% growing and was sales nature as compared

managing have established the the in we shortages we a In supply and in addition, ended quarter was per GAAP during the of with supply the September $X.XX are $X.XX strong quarter third of diluted We per affordable split earnings our XXXX successfully share we two diluted to third of chain distributor our for in per that completed in earnings making the diluted employees. network and sheet. component per XX, was to XXXX. the investment pandemic. compared diluted $X.XX the through $X.XX remind XXXX. for various share quarter community our the shares quarter to one Non-GAAP stock XXXX quarter our third share for earlier completed the balance same I'd more like a quarter to compared share listeners

of marketable $XXX.X company the million. deposits and this XXth September securities, of and year, cash As equivalents, had cash of

hand of front, flow I cash now from the million will operating call over activities the the third for back On Moshe. company to XXXX. quarter the generated $XX.X

Moshe Mizrahy

Shakil. we are thanks ready Yair, Operator, Thanks Q&A. for

Operator

the first [Operator And Barclays. Steed with comes Travis from Instructions]. question

Travis Steed

comment much you're really bit channels nicely shaped it congratulations if October different looks August-September, various didn't up the a you anything little a could different and up base? your and on see seeing with in here seeing on or quarter, great customer on expected, comment as curious dermatologists versus how October early what quarter. you I'm if curious as seasonality you so you morning good the When really growth med if Hey, looking things the at like shaped spas, late your and you're like quarter in can

Moshe Mizrahy

is Hi start. let’s Moshe. Travis, this Yeah,

and Let’s start Shakil start will complement the I U.S. will with him.

Shakil Lakhani

Travis, yeah Sure, hello.

question, seen did we've to your for part good of So, October we far. going so start one a

normally to seasonality. last lines product than we're to others, of kind you quarter certain It differently -- affect so do we used right. does Going definitely

and bit course. of see expected side that So things we we then of did of back little pull did hands QX well invasive kind minimally but our free of in in quite a

obviously we pretty about are QX are going optimistic with that. we where So and

we we EmpowerRF, focusing terms of doing and first as What core staying with in we a really be start to invasive of However, the what of order that and devices. technology we're penetrating our now. we soft support create power in launch really to structure some going call little the been for around of to the specialties solid status work will kind on bit a build and quo grow like obviously continue to it's markets for like minimally did

of North international. about So talk the to want that's you Moshe, American do a bit little side things.

Moshe Mizrahy

countries see was very on I any I August-September slowdown week lockdown say operation summer to, from for you the for there But most I than this least eight example started little Yeah, business would country's in sure. and last this from In the in summertime and in good in South September. Italy, the we ESG Australia in the XX on this Brazil in that quarter from didn’t say third to of came six time, July-August better quarter so that all in in closed to quarter August Travis, quarter at summertime. see then Spain, Asia Europe that is they U.S. for industry, beginning there. France, did which remember. way September. that know XX a in therefore which had good would say Luminous of is of the countries where we years. vacationing. again slowdown for some and there. July now like China pandemic countries quarter something say I with like the would the We A look India outside well. after a And America, that in a Korea, of little in the I'm weeks this coming bit everybody would I most if didn't better In all any was are month we work mainly with sell and quarter is was I a the back one COVID bit much

So started product. of fourth most are I time We were don't that is strongest hope free, or that traditional last surprised. treatments the want your summertime question? best say is this because, we in different will is I the get October that believe not laser procedures bit usually to or We have to we a because Usually you invasive saw compared answer say strong from colorblind, came go will one. don't Did you your But would to get are to optical color continue. burns. on a of believe say technology, in skin color if the to I continue vacation, more we countries. you treatments. all want quarter tanned, the minimally don't our We which energy get just the you very The to laser we little the see the which momentum, quarter, November-December. would we

Travis Steed

detail. like of the helpful about super ton you've that. lot is next seems really that's Thanks Oh, question in on thinking it momentum next base year, a My business. got a

million next would some So GYN thinking and should that color really that to growth for the the the through launch if say expect and from that million incremental we feedback then on I change launch? typically base add GYN some see $XX the something $XX $XX you no year on you curious in million initial could business. in of like But

Moshe Mizrahy

bit do Spero, gynecology to launching our the talk about little want strategy a you market. to

Dr. Spero Theodorou

it's question. Travis, a great Sure,

have in past the with and to in don't I GYN the the what's and happened products do mistake. the seen we we think want competitors certainly past different same

way we So the with we path is our equivalent seeing that quite off the to case, hardest the especially of we the lot that convince different. adopters that sort of which in plastic we the case we're We had starting the this now but A convince have, hardest surgery urogynecologist the and what this will technology is right him offerings be it's enthusiastic. to and surgeons. And with plastic that dermatology, we're plastic took surgery. took of take

going credibility. it A a be it of doing And the lot in group that slow this group will KOLs so need ramp our -- is for because do to And we these respect, this are area. give -- is us. are to that actually it's in probably

they'll some As everyone move it, general as urogynecologist of GYN, start gynecologist the else. adopting and and into well

staying that this lot this take want this answer why back have Does and performing run long your or years device will of go And course, So in the the to down, effort question, don't seen goes time some definitely we're that's different. how you group, for you've been which one power. And a year studies it's industry. when of goes has two this We worth Travis? to that is the to putting up with especially case lot norm not mark been as is us. usually and with a of want a it's but which in

Travis Steed

Yeah. [Multiple Speakers]

Dr. Spero Theodorou

is the part could you and the This first Moshe, comment on rest.

Moshe Mizrahy

the that's would during will in that getting in with to Yeah, product worldwide we have We're working, I them say not that of and Paris, it's Europe, starting right January, we and the yet. deal body to in close We believe approved now, submitting cast launch [ph] only of studies launched which power regulation approvals according XX the January. the are probably in end any where we documentation certain countries, our we the in to regulatory process the still other U.S. is in

next is and from what the just just be So spending a market a regulatory gynecology indication a we will this on what other because want us according we is we bodies. system on money and we to and every Spero number, indication that By doctors, approval that claim. kinds new the total of claim the is get only to the and for revenue of indication market and checking very it all we what lot this the this believe broad to will year, way, you studies from for has said, FDA to to careful we're very be with give the because

will and very we status market, early the check reasonable would but and new will December, November, we I curve give a market and some more sound the educating be So say, in products will on go to from we are other writing stage. our this that in to learning we able bring product, category and focus. and as $XX the some I as million to We're this me be definite, you numbers with learning

month’s launched We only have only experience week in August product. product to with this basically, one have one this remember, so was of experience, we last the month's

Travis Steed

the Great. Thanks for taking questions.

Operator

question Thank Taylor UBS. the And from next comes Matt with you.

Matthew Taylor

on good the quarter. congrats question morning. and Great, Thank taking a for you good

So months, easy year and past you in first absolute about was, the But dollars and I organization million obviously Moshe have have XXXX. on the about of top talked line. XXX year, ask in grow, of million being numbers terms over in And recent last an some are you able comp. the you used the to it talked growing want in potentially question increased this you've the you scale to $XX be to

I So and to international? you may how in able scale the size you much expansion of your now to you with and some thoughts current on the to and products just organization, your frame wanted dollars be think grow

Moshe Mizrahy

Yeah, thank you, Matt. question. Very good

I would know, That's $XX to XXXX. to at or COVID want would But million $XX XXXX. You that I million that I we XXXX, that least need we a year. grow in that to remember belongs to was from we XXXX, say that about million believe in $XX XXXX all XXX. from normalize say if XXX

expectation. between understand kind total need an some growth and you, agree XXXX, the So year with to what this we real was growth. I to mean, average make I But of the exceeded XXXX our

the to COVID a of you zoom of year effect, and guidance call $XXX -- million. was of mean, people $XXX the the maybe is guidance continue to this. aesthetic gave quarter, a us. last performance and XXXX according remember, would we believe to to If the name kinds every performance quarter we update for next everybody And I first great that for will be effects a all I million the year the give we people that million XXXX XXX to a XXXX go other now procedures, was because make quarter. it that say what

enhance platform our with future you for we close momentum aesthetic, see others, come products in that more promise and ophthalmology we in aesthetic will the we XXXX,. the in XX or XXXX year. will now and cannot But in to the see our sign we we continue right up which I develop to If million XX good And I on every another to great or the would continue say and pipeline a products medical, to for some portfolio. R&D some have projects, look with $XXX hopefully XXXX, the grow gynecology.

So, up I the was out total embryonic when system stage and in -- we into of the that we XX,XXX system, -- now change others sold is our we business, available business. that we times say to could very go would market Since XXX,XXX, United in and sorry, total This O.U.S. to medical the of which around be the States a believe the XXX XXX,XXX five -- the reach want all XXX that enter in million future, if clinics. communities medical could --

continue will a of $XX much how this we end much year, million to a We will than year. at the guidance give grow more probably

Matthew Taylor

lot timing what thanks Could of follow-up color. a pipeline. the ask on like through about a look Okay, good of to did that would ophthalmology that’s ramp and and walking there. that. you Moshe, I talk want I the appreciate you us the

You XX mentioned these projects.

there us the of are some that other composition? any on terms the could ones or color So timing in you give

Moshe Mizrahy

treatments separate for will working the snoring, early mainly year. working projects. on and That just a now. SEPTA We the projects eye, now do we're others. with We're dry device. platform We're what similar on face for platforms for turbinate you urology, projects of products the tell come hand next came on to ophthalmology free on. a aesthetic. dysfunction, We're study transform three Evoke for We're men. our on the the for on which Evolve. for can be platform. doing We developing for for the probably working on working something enhance E&P for We're will erection Plenty the I right

hand them some are are Some them some of It's are them of indications. new a new platforms, pieces, variety. of

Matthew Taylor

and you. -- a lot thank the color for thanks Okay,

Operator

Canaccord Thank comes the from next you. of Genuity. question Kyle And Rose

Kyle Rose

think frame years really new But Great, can the you've very a and the a see thus the XX little realized you understand maybe contribution you Votiva I I only sales we gynecology success just like Empower. thank basis, to still space mean, the when contribution far. we of I congrats we ago, XX that I first on should just try the in launching it understand should am you much, launch of that you about wanted and how of to had could guys in be talk if on given was to were trying controlled growing the place. it what months just this bit when Empower a I in was more product, what of seems launch, to opportunity like technologies a and market be quarter, got Votiva business about think the just taking looked the how several about investing trying one here? companies to might in launching percentage small

Moshe Mizrahy

Shakil, want to start? you

Shakil Lakhani

Kyle. Yes, sure. Hey,

specialties, think and look in The make is, you before, it's kind So doing. right get the thing what is, it again as appreciate sure we of that it to release mentioned the definitely core one product. at I right I our I want do this doing hands, way noting it's to of controlled the

idea, here. we'll potential the next the have a better longer one what for in to quarters looks to two I like, as outlook think probably the

market However, know site, this for is a large particular It's what all a addressable total segment. segment. big the we it's

thing to However, or the luckily, And last the and people to years. and with market women's and four dealing told that five lot is that The dealing in have the work. of with hiccup have in procedures based biggest a used ton that cash experience a we insurance. them we that of health typically one how have they're note specialties, getting wellness physicians understand to them over is

going it, enough goes when leg could back up. behind actually a doing statistical that at you on it very, up we wanted data very but urologists you heavy I gives Because data. look so to just think it are have us before to we So They're call OBGYN. very, that anything,

kind So change if of that, we're it's offering to that's we're make to of lives. going invested want we right, it for controlled work We women's SUI explains something doing release. a in sure the to that which do and going fun to end want

far, we've preliminarily, that. seen So

think going I to the as have, total very one we're in said, is. better maximum that But to very, are I as as idea make quarters what we business. to what two to Does a definitely optimistic potential the next the potential market for sense?

Kyle Rose

as far strong very the last the guess you have that had secondarily, And systems sales, aspect, your It can I'll you've and And my system then stand does. One, just Thank last at of months. an the there? a you. time. XX on update had kind sales approved where get questions, from number ask strong few are then system the regulatory same of just you of obviously as just I we entirety business. China

service you. just moving how think and understand beyond? and understand we're that to trying maybe in until months, contracts about Just should of Thank might don't I think when how after we think about we XXXX XX mix trying kick to change service forward, mix the consumables the

Moshe Mizrahy

of a eight with to approval we have CFDA into finish, deal product ago. they with And, eight to three months and they product China. we Right eight commitment. start don't weeks it. you tell and when and laser have they products, get when comply, IPL you has non-invasive to and in we submitted for to and give philosophy come question. you invasive have back they some something can that's China, timeline. the to no we The ask They don't which months -- approved months let's to question, formula after expect back like start Okay, The CFDA. ask first quarter CFDA you and China, they the three we come after the the And now with

CFDA the I right team makes We doing a believe are when it Hopefully approvals in with I -- get I about have believe a quarter. to get we even it approval estimate. give difficult doing with also to The But go to in we expedite million $X.X to fourth exact categories million year and CFDA. we're cleared the to we're we we companies. order know usually But three next know now within today when will average is a that's we -- more and you consultant on foreign growing that to will China date we how deal we're we hired more continue and in cannot. those market don't quarter, a between the and now will that China, my $X well. quarter deal

so is already treatment Disposable, Now slower the regarding to more worldwide, this to the quarter. to the would we sold the last year we as the last at sign XX% growth And in that least period us. I almost as number as in that XX% exactly than we is the system of that same the quarter summertime XX,XXX year. disposable I usually far QX fact systems we exactly and XX% for last to a is second number mentioned number, same by sold, good did sold XXXX XXX compared on compared about XX,XXX quarter the say same second around the

So the on an not we disposables going are system than an average, sell faster on per quarter. that average the quarter,

for good us. sign So also this a is

Another has wanted MorpheusXV, Aviva. FormaV, the or the different even to the the three disposable say thing I and VTone, four disposable, different Empower platforms

one-time use. are them of All

really now at is a or of system least because but will use every sell. least at numbers what disposable disposable. So doing good have doctor one is the will every on allows Almost that developing the it one two he treatment in patient treatment this depends will we that disposable that and we're

platforms base to will Does answer number install the of the revenue. question? the to quarter. to XX,XXX reach So between say disposable platforms assume that the would XX% one, worldwide, depends right then now between on of is XX% I the of total disposable your go XX%, that numbers XX% will probably I

Kyle Rose

Thank you It very does. much.

Operator

Mattson Mike Needham from Thank you. & question comes And with the Company. next

Mike Mattson

I'll Hi, my good questions. international with the guess for business. Thanks I taking morning. start

looking in you're opening European mentioned country. a major You subsidiary a at

more kind Just implications if talked detail doing of provide you could about wondering you that? of that the and financial on

Moshe Mizrahy

hired of we in The start And, I subsidiary was The in Right two every we detail don't trained one one distributor And biggest. and on train course, want course. clinical of Italy already one the Probably will of the manager, in consists go team Europe of yeah, the Germany. Yeah, the manager, two. to but and We country team Israel we beginning. have of what distributors have the and manager, UK in operation more those Well, admin. France. it's establish name and We're a in to system. and to now mention team. sales come one in will the Spain, training a will that's probably team. now of

are currently done two are distributors. the sales to we in We This direct. and looking wants. like and from. of need Australia, subsidiaries first get India. Asia, we XX% be subsidiaries in we to the next Around would will we customers, doctor done country space And And we the work. all to is what two to in direct, the and America, today have we sell the the operate to close in the and for depend loyalty we customer two will general so months When this a North or on start fresh know of worldwide in our don't Europe, subsidiaries three

currently additional the in China subsidiary Europe. So -- also in country and the establish an finishing we're

doctor we And to another not and When next company Because we probably say service doctors country percentage what know like to that value, from year recognize direct, and sell want distributors, company of full I to every realized the So the one have thing, another have and we we that. would the to we subsidiaries. direct indirect. they will and buy in they have to distributors compared what him from for go increase better redundancy. we work wants, sell the we'll nine the day you

So this want detail you is the plan. Matt. more Do

Mike Mattson

what's SUI are what days driven of options and it being you pieces just ask hand there, terms EmpowerRF, most of the is to it seeing piece the No, it's Thanks no, here the launch so and then was is -- that but, by understand in wanted and great. options? primarily the I popular early different hand on only

Shakil Lakhani

Yes. hand Yeah Moshe. it over in I'll Spero second a to

Moshe Mizrahy

okay, Okay, ahead. go

Shakil Lakhani

the we a From and to only it's really size. small a problem. commercial have no on aspect, sample no, really juggle Yeah, month

it's course Of figure out. a to really little tough

I least that three think to not what the though, interest very level at SUI that’s From like I to and us earlier something probably and an to popular six an solution of there's patterns. is going very, take a get for. months something common idea major said it's

we up we to as have before, do what that of promising. mentioned sure live significant I a but lot so we it have excitement can So data make behind that we're we clinical want to

Spero. to hand going From piece VTone perspective, the drivers workstation that do and the clinical I over itself. terms think of physician's and it in on I So of hand the to MorpheusV the more significant are be will side the what's

Dr. Spero Theodorou

worldwide Thank you gynecologist gynecologists to has Shak, category simply they're in. question. going a or what that's focus certain and We're a on general interested everyone great

who this, babies rehabilitation. women ability the about the the to lot are that over all to and delivering we the initially and excited so It after for delivering about excitement right. the fact aspects public urogynecologist, far right have and includes what treatment, they're causing working includes go VTone gynecologist floor are who a which is to founded we we talk very it's whole still delivery microneedling When that's seen. or treat OBs intravaginal something a of of novel when So we

addition for at looking they're our EMS postpartum. the diastasis to it as closure patients a In to selling package after and device

to offer unique. before solution. comprehensive postpartum never be able a done very, This very is actually to been has this So

doing So of this a the at are doctors lot differently. OB looking and very

So everyone has a within globally you something. -- groups look however, at solution for all when these

So such general that this a that gynecologist a things of whether gynecologist do. offers has do different you whether both combination or you're treatments, can versatility you platform it

company aesthetics aesthetics and an are introducing this category we right, we're into that. forget through not let's addition, In

population which your by way have where they the initially based cash you there also of holding enter is patients is that is and business So indication, aesthetics. a hand existing here the can medical here's

move how So into our we these categories. is typical this different philosophy

Mike Mattson

then question really That's is chain. helpful. thanks. final And on the Okay, just supply my

going one some in terms that an we're really business just of thing be had you components strong of a in about some your appears bit So obviously is one shortage demand see little that day to to announcement but other worry that I kind semiconductors and your to products.

to growth this that's your you're seeing, level gauge out your and meet yes in new seeing and wanted so tremendous chain? volume to that business, you're there happening I growth supply that your given everything then just confidence of ability And kind

Moshe Mizrahy

chain right delivery Matt. Today in you weeks. weeks. as far of four lot logistics, XX a seeing would companies I that the supply of we get We're get time used we as component and to say are Yeah, absolutely

have So of don't us. buy can want little grew everyone suppliers. know our component and shortage least manufacturing them every sub We if at notice buy in line, territories. because basically from and assembly different that bit U.S., we components that we from we Europe. to any most from you buy a of chance we our in and I three use We On don't supply China, inventory suppliers take two

ourselves got and far are waited a only everything. distributor than to according before Everything a have more No XXX we days to orders. currently capacity to and in I today watch order, XX it. platform according we capacity, one the using quarter continue third or manufacturing but the to would will either some manufacturing plan delivered we we of and our the I mean, system, of say XXXX doctor we the the per it we quarter XX% prepared As unlike for future. to as competitors

built here. problem We and they on whenever engineering that we established have thing with do have to only But a alternative a is the special component check supplier. components department one we or one

and four is this Israel before sending have to from All it do the in either major the would and in the air sea say with One we is last manufactured part. logistics, we the issue I in shipping In is or So effort by Israel this a shipping and here. it in our of by year maintain all done everything time the money. are is order save not which up order XX% for now air a gross have. containers why we us shipping in the in times to to went not this nice right is by is and and said as must, mainly I margin prices

Mike Mattson

up the a Okay, backed container, I'm hearing that. lot ports and about like and things just being

not a getting or waiting on to port So XX around, stuck about container a of things back get somewhere? a in an boat somewhere wheeler in you're worried floating these

Moshe Mizrahy

in take are everything we believe learn at you year well go happen. months, will No, to the full to go I chain from with have It not to normal live know until right supply it least back you worried. what will next manufacturing, year. in take prepared will very know, ourselves not the a will But that the time people with this everything a coping never we Hopefully will and are back normal. from the we and way. But pandemic

Mike Mattson

Okay, got it thanks.

Operator

with from comes Johnson you. the Jeff question Baird. Thank next And

Jeff Johnson

of how hand during third, percentage U.S. the if quarter too or in about, brand your a were quarter in Moshe, in dissimilar guys. the many pieces in so are fourth revenues from the morning the that hand I'd system interested went talk piece U.S. new the the of even not or be it what current buying qualitatively accounts. platforms you they how the is many systems question could the Good customers, of versus into I've were asked into or thanks. Yeah, went sold of a past, second,

trying of derm where understand the the kind market? the in penetration Thanks. Just penetration to we plastic of and U.S. the and of side on are

Moshe Mizrahy

could you Shakil, that. please answer

Shakil Lakhani

that that not be these -- we're just in but do once that something meaning bigger something or go our where like -- striker you anything ways not definitely in of to it's we Hey sure. it month, they're Yeah, we company going customers quarter every devices, sales Jeff, know and you a existing that some after per every so or sell like fortunately have right. se do type six successful, the has either we type of we go

pipeline because we easier for lot a first in of they robust have get to have task right. out coming are them something kind of our it's But definitely to keep and excited. them so new always reinvest So that's that our is successful, what them we and

it So of with starts kind that.

XXX% of I don't doing to terms want certain not percentage majority our is business. that I'm wise, of of. give what business we're In But you anything new

things have I who about early devices, workshops of customers and that. existing our different attendance some like I of some lot seeing are purchased have we on and know talked we record although So,

new good mix customers. customers and have We a existing of

large However, Spero talking doing used already these what they're things degree lot mentioned can about of but a get after now we been not specialties to I I a too. they even say as once talking captive do going start large feel base of as they into have, that health women's about should doing, our and audience Empower, patient

those are While lot cosmetic and done aesthetic elsewhere. patients getting procedures of

and procedures cosmetic So for kind idea then cash used charge the be help these side. do that of no to pay the on certainly them getting is slowly to able

The main succeed see still some exact in and sure thing to of answer lot but want customers looking then North it's make they that going that do force know you're a have to in customer them an and base. it's sales for newer a for good technology, business we our although very existing us I make talk we not new bringing So do I sense. is much about that to so easier does first our for America

Jeff Johnson

Yeah, it does.

Yair Malca

new so sales this just that the customers. said, this Shakil complement Jeff least at Jeff. is over we're XX% tell U.S. you far and Hi Yair, can year what to to I

is revenue coming mentioned, our Shakil as [indiscernible]. most So, of from still

Jeff Johnson

into next that Evoke, platform Thank you that and platforms then Evoke Evolve like to that guess physician I'm follow-up the other you more are it category the those or spas focused customers one, whereas into trying with free with MILF kind with owned the on opening getting hands mentioned helpful. who so. that spas does question go we IPL med more thanks? not Should now think the that's you a in Yair. go in in And those And that technologies. China Evolve you in on and more now can of to that to door an med hands med then necessarily right hospital side Alright, move is you those BodyTite AccuTite understand is in things into free procedure I right necessarily year, well opportunity and the the well. hands spas and doing MIRF, some free didn’t as the and going international just Moshe of and products IPL China potentially new China were you're

Moshe Mizrahy

spa the they China, hospital, are yet, something to in The there Europe the well. you to right you want also and and market it which categorize in now but something America. in as way all customers. the and market to definitely. in organize spa to want from absolutely you answer market to And they surgeon become spa America. Plastic private North are biggest. market, But dermatologist now the were very Once chain. say evolve what regarding certain and the in get the Yes, them. China, go the doctor is in The will we will med spa called approvals O.U.S. shops approved North say approval in they and first the go answer the private sell you in we doctors, Asia China, would not just to let if Well spa work countries. not but we used China. the me only hands free getting this popular also to are has introduced right are market. for We which Dwayne the the in we spa to have be and go China, devices been clinics only market well year. to about It the Definitely Shakil it, you you the is now can small in is, Shakil is clinics about the those will are spa hospital already I clinics,

Shakil Lakhani

it. of us going and so market free medical spa med and of [indiscernible] side I kind we've hands supplements technology we finance The think always does after specifically. can directors Absolutely, physicians allow sure. the into things certain penetrated physicians Yeah, the that do

is nature spa of the looking it. it's -- tough guess just spa we're you're a the people finance always itself when for going places medical market to spa, get of that market. at to it's lot thing and really other actual be smaller So record And the those things medical tough to

but technology or is it, free of free focus technologies BodyTite mean whatever professionals is spas, are lot it someone AccuTite a hands hands or in kind right. terms I of on also the but So or who medical our that you them med applicable the to the FaceTite asked yeah, the it has is set of because forget remember what and just

whatever still Well, or So you their there the are bunch that is, a BodyTite is doing or it able patient to physician delegate of you revenue that for right. AccuTite group the one generating so offers. could have out

the So do doing what things they technologies. income doing they're keep hands they're can while free we if still from the using have different side passive of

that mean, is Evoke anything you the offering a former the really and So think service unique we have more lot think and know -- free as like into things on our working have far not that I I our we free competitors between products. yet. special the that. think marketplace as than are goes, of come and else Evolve we that’s don't those is hands as that I some things and we Hands

Jeff Johnson

you Understood. Thank guys.

Operator

I this to and like comments. to you. session. the concludes question-and-answer the Chairman And CEO closing turn would Thank Moshe call for Mizrahy,

Moshe Mizrahy

for employees everybody also and of to training some want the one. support, the body. every joining worked Bye-bye. very we quarter all the stakeholders of thanks I logistics, the had and a a the continue a the momentum them we as for employees, a very line. successful our of thanks Again, tough to express We that the but sure you very I'm very operator. the manufacturing, did on on will us on shareholders. job team We worldwide. today. and hard you Thank Thank marketing, benefit sales, Okay. all I believe good are

Operator

for today’s Thank attending Thank conference now concluded. you you. The has presentation.

You may your lines. disconnect now

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