InMode has reported preliminary Q2 2024 revenue of $95.2–$95.4 million, reflecting steady growth in its core RF and body-contouring device business. The company's consumables-driven model—Morpheus8 tips, handpieces, and service contracts—continues to generate recurring revenue despite competitive pressure and the ongoing acquisition process.
The revenue guidance, announced ahead of the formal earnings call, provides a baseline for evaluating Steel Partners' $16.75-per-share bid. At roughly 1.1x revenue (annualized ~$380 million), the offer reflects typical PE multiples for device companies with predictable, high-margin consumables revenue but also signals confidence in InMode's ability to sustain growth.