Shares of InMode Ltd. (INMD) tumbled over 5% on Tuesday after the medical aesthetics company reported mixed third-quarter results and lowered its full-year 2024 revenue outlook, citing persisting macroeconomic challenges weighing on demand.

For the three months ended September 30th, InMode posted a 5.8% year-over-year increase in revenues to $130.2 million, though this fell short of analysts' expectations. The company attributed the shortfall to decreased demand for consumables and minimally invasive treatments amid broader economic pressures.

InMode was also impacted by operational disruptions stemming from recent management changes and the ongoing conflict in Israel, where the company's manufacturing facilities are based. Executives noted that employees had to work longer shifts to maintain production levels, driving up costs.

In light of the headwinds faced in Q3, InMode cut its full-year 2024 revenue forecast to $410-420 million, down from the prior range of $430-440 million. However, the company reiterated its earnings per share guidance of $1.92-1.96, as profitability metrics remained relatively resilient. InMode posted GAAP gross margins of 82% and grew earnings per share 20% year-over-year to $0.65.