InMode Ltd. (NASDAQ:INMD) Q2 2023 Earnings Call Transcript

Yair Malca: Sure. So, we haven’t, as far as the environment goes, I touched on that earlier from the leasing perspective, that nothing’s really changed in terms of what percentage is financed or leasing companies versus, cash deals, so on and so forth. It’s pretty much status quo. So hopefully that handles that better for you. But when it comes down to the actual leasing side of things, your average lease is about five years on average. And so by that time, because, as Moshe had mentioned earlier, we introduced, we’re trying to introduce at least two platforms or upgrades to the market every year. We’re well ahead of that. In terms of devices that positions currently own or currently leased, we’ve actually been the one company that, at least to my knowledge, that’s gone in and several times we’ve provided certain upgrades for software at no cost, things like that.

If there’s hardware, we might have a certain cost to it, but we’re very fairly priced, I believe, based on the history of this market. So from that perspective, when you look at the leasing side of things, these, thankfully, the way that Mishka [ph] and his engineering team design these things, they’re pretty stable. So, at least from a service standpoint, it’s not an issue, but in terms of obsolescence, there’s always a way for us to upgrade or add on. But as I mentioned, by the time a physician is done with their five-year lease, they’re ready to move on to another piece of technology. And our goal is to obviously, as I mentioned earlier, provide them with the tools and new technologies and innovations that they can actually add into their practices to better their treatment outcomes and revenue results from these devices.

Does that make sense?

Ryan Barocas: Yeah, great. Thanks so much.

Operator: Sure. This concludes the question-and-answer session. I would like to turn the conference back over to Moshe Mizrahy, Chairman and CEO, for any closing remarks.

Moshe Mizrahy: Thank you, operator. Thanks to all the team that were with me in this call. I want to thank again to all of our employees and their families around the world. I want to thank all of our shareholders. Some of them have been with us for many years. We really appreciate that. I want to thank all of our suppliers, subcontractors, everybody that work with us that bring us to this to this success. Without them we cannot do it. Hopefully we’ll see all of you in the next earning call. Thank you and goodbye.

Operator: The conference has now concluded and thank you for attending today’s presentation. You may now disconnect.