InMode: Margin Pressure, But Optionality Makes It Worth A Look

  • InMode's fundamentals remain strong despite guidance cuts, macro headwinds, and governance disputes, making current negative sentiment appear overdone. Valuation is compelling at just 9.3x forward EPS and ~6% FCF yield, with a robust cash buffer and capital-light business model offering downside protection. Share buybacks are accelerating, shrinking share count and compounding per-share value, even if revenues remain flat, providing a powerful catalyst for upside.