Caitlin Cronin: Awesome. Thank you. Then just a quick question on the US side of the business. What capital systems and platforms really kind of saw the weakest uptake during the Q3?
Moshe Mizrahy: Shakil, that’s your question.
Shakil Lakhani : Sure. I think it was just overall, as I mentioned before, we had some strong growth with Envision in doing the initial launch, which was successful so far with the defined launch towards the latter end of the quarter there. Hopefully, we’ll see some of the rewards from that come into Q4. But overall, it was kind of pretty much level across the board as we normally see it. It’s just, again, as Moshe had mentioned, and kind of the common theme here, the financing side of things in the macroeconomic environment just kind of slowed things down. But for the products that we did see, we’ve still been very strong in the minimally invasive side of things with Morpheus8 on and so forth. And we’re also staying steady with our women’s health and wellness platforms as well.
Operator: And our next question is a follow-up from Young Li, Jefferies.
Matthew Taylor: Hey, it’s Matt on for Young Li. I just had a follow-up question. I wanted to ask more about the GLP-1, I guess, tailwinds that you started talking about. I wanted to ask, Spero, have you already seen this phenomenon where patients are losing weight on GLP-1 and then coming in to get surgery? And if there is much broader adoption of them, do you think it could be a significant tailwind for InMode in the future?
Spero Theodorou : So, it’s a great question. I think the one thing I did not mention is the price of these medications, right? I think a person that’s spending $1,500 a month, $2,000 a month to lose weight has already crossed the line to say, you know what, I want to look better and healthier. And the healthier part is secondary. It’s usually I want to look better, just the way human nature is. So, you’re looking at a patient spending $10,000 to $15,000 in a year on these medications and committed and now they definitely have lost the weight, but they’ve also looked worse. So, once they’ve crossed that line, what we’re seeing is for them to come in and have things done to spend more money on a Morpheus treatment, for example, which is simple, $3,500 to $4,000.
It’s not a big deal. So I don’t want to say it’s sort of like a gateway drug to us, but it kind of is. So I do think it’s going to have a positive impact for us. We’re seeing these patients come in. The term Ozempic face is a term that came out from a New York plastic surgeon that’s one of our KOLs. So, that goes to show you that we’re very aware, very engaged. Our doctors are definitely involved. You see the different names come up from Ozempic butt, Ozempic face. These are plastic surgeons or aesthetic doctors coming up with this terminology. And the reason they’re coming up with this terminology is they’re creating an environment and educating patients for them to come to the practice and have these treatments done. So, definitely, I think there’s going to be a positive impact for us.
And the trends so far are looking that way. Does that answer your question? I’m not quite sure. Is that what you were asking you?
Matthew Taylor: Yes, no. That’s right. I just wanted some confirmation of that. The other thing I wanted to ask you about, I noticed you were in the news recently talking about some of the dangers with fillers. And so, I was hoping maybe you could just touch on that and whether that might actually also lead folks to InMode treatments versus using any filler options.
Spero Theodorou : Yes, sure. I mean, that’s sort of separate work. I am a practicing plastic surgeon, so it’s not necessarily InMode sponsored to the work that I do is completely different. But as physicians, and we have to be leaders in what we do, and the concern with the fillers is real. We were the first to the group that I did the study with proved that fillers do block lymphatics. And that study is coming out soon. But why did, how does that impact? Well, we do have doctors that are using InMode technology, Morpheus combination with hyaluronidase. There’s a doctor on LA, his name is Kami Parsa, he’s doing great with it, has a two year waiting list. So overall, we had to step back. I think that what’s going to happen the next two, three years, as patients and especially women, because the majority of these patients are having fillers, are going to look, it was going to be a push towards biologics, whether that’s fat, whether it’s a filler that’s not hyaluronic based with a lot of cross-linking.
Patients are going to be seeking more natural sort of things. And are we looking at all these things as in what, of course, we are. But that has to do specifically with the trends. And I think that if you look at any device in plastic surgery, it takes about 20 years for it to start having problems. The same thing happened with implants back in the past. So I personally feel strongly about it. This is not representing InMode, a certain thought or this is something I’ve done independently, but as my position in this company, it’s important that we always take good care of patients. Find the best treatments for them. And InMode does have that reputation that our equipment works. So in that line, whatever we’re looking for in the past, and M&A has to usually go along those lines as well.
So does that answer your question more or less?
Operator: Thank you. And ladies and gentlemen, this concludes our question and answer session. I’d like to turn the conference back over to Moshe Mizrahy, Chairman and CEO for closing remarks.
Moshe Mizrahy: Thank you, operator. Again, thanks to all of you who participated in this earning call. I would like to thank all InMode employee worldwide that work hard on the third quarter, facing the challenging that we have discussed today. Especially I want to thank all the InMode team in Israel, who under this kind of war situation, working every day, sometimes 16 hours a day in order to make sure that we will comply with all the promises that we make worldwide, deliver on time. We all hope that Q4 will get better as far as the market. Usually Q4 is stronger. We have some challenge to it, the number for Q4 in order to be within the target that we gave. But we’re doing everything we can as always to meet that. Again, thank you all. Bye-bye.
Operator: Thank you. This concludes today’s conference call. We thank you all for attending today’s presentation. You may not disconnect your lines. And have a wonderful day.
