Inmode Ltd shares slid more than 12% in pre-market trading on Wednesday after the medical tech company reduced its full-year 2023 guidance, due primarily to stronger-than-expected headwinds from the current macroeconomic environment, resulting in a slowdown in platform sales.
Inmode said it now expects adjusted earnings per share (EPS) for the year of $2.47 to $2.50, down from previous guidance of $2.53 to $2.57.
Its 2023 revenue, meanwhile, is projected to be in the range of $485 million to $495 million, lower than the earlier forecast of $500 million to $510 million.
Shares of Inmode have fallen 33% year to date as of Tuesday’s closing price.
Contact Sean at sean@proactiveinvestors.com