InMode Ltd. (INMD), a leading provider of innovative medical technologies, saw its shares surge 5.04% in Tuesday's trading session following the release of its fourth quarter and full year 2024 financial results.

The company reported robust fourth quarter GAAP revenues of $97.9 million, although down 23% year-over-year due to industry headwinds and macroeconomic challenges. Despite these pressures, InMode delivered strong profitability with GAAP net income of $82.8 million, or $1.14 per diluted share, supported by its lean operating model and strategic initiatives.

One of the key highlights of the earnings release was the announcement of a new share repurchase program of up to 10% of outstanding shares, expected to be completed within the next three to six months. Combined with the company's previous buybacks in 2024, this represents a remarkable 27% of share capital to be repurchased in less than 15 months, underscoring InMode's commitment to enhancing shareholder value.

Looking ahead, InMode provided an optimistic outlook for fiscal year 2025, projecting revenues between $395 million and $405 million and non-GAAP earnings per diluted share in the range of $1.95 to $1.99. The company also highlighted its robust cash position of $596.5 million as of December 31, 2024, enabling strategic capital allocation initiatives.

InMode's CEO, Moshe Mizrahy, expressed confidence in the company's ability to navigate the current environment while remaining committed to innovation and expanding its product offerings across various medical and wellness markets. The company plans to launch two new platforms targeting these growth areas in 2025.