14 Comments
User's avatar
Large Margin of Safety's avatar

Note that the board reinstated the CEO after he was voted out.

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Kevin's avatar

Thanks for the feedback! I missed that while reading through the proxy statements...

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Anton van Senten's avatar

Kevin, thanks for following InMode.

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Kevin's avatar

My pleasure. But the company has some work to do. or I may stop following in the future 😉

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Holland Park Capital London's avatar

Good post on Inmode Kevin. Inmode' s insiders have been busy and are getting new stock based compensation every year. Meanwhile the number of shares outstanding increases every year and growth has reversed lately. As a minimum the company needs a "year of efficiency" Meta style. Long suffering shareholders are fed up. The number of shares outstanding needs urgently be reduced to IPO levels and a dividend needs to be announced as well. Feel free to ask management sharp questions. Much obliged!

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Kevin's avatar

Will do. Thanks for the feedback. The buyback will help a little, but it will not be enough.

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MarketLab's avatar

Nice deep dive!

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Kevin's avatar

Thanks! What do you think I could improve?

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MarketLab's avatar

Not much. Content is great. Maybe just some format stuff to make it a bit cleaner (huge section titles and subtitles; some formatting inconsistency; some consistency in the graphs/chart sizing would be easier on the eyes)

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Kevin's avatar

Appreciate the feedback! The next one will be better…

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Andrés P.'s avatar

Another great article, thanks!

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Kevin's avatar

Thank you. Do not hesitate to be critical. Always looking to improve my writing and analysis.

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TJ Terwilliger's avatar

I looked at InMode last winter. I see the opportunity with the devices and the market, but came to the conclusion that I couldn't trust management. Their last company (Syneron) didn't do well and got sued for theft of trade secrets. The fact that Amir Waldman, the former VP of Regulatory Affairs was convicted of insider trading, and the reports of high-pressure sales tactics, dishonest financing, and questionable reporting to the FDA kept me away from the company. InMode's management just didn't seem like people I wanted to trust my money with.

I do like how you're tracking your thesis on the company and updating things as they develop!

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Kevin's avatar

Yep, that's the biggest issue here. If things do not improve in the coming quarters, I may have to cut the cord. Maybe I should have already, but the recent 180° turnaround in doing buybacks is holding me in. Thanks for the feedback. If you see anything I could improve, please let me know!

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