InMode (INMD) is unlikely to meet the average estimate of $0.38 in Q1 non-GAAP earnings per share from Wall Street analysts given the revenue shortfall in the period and the reduced gross margin guidance, Needham analyst Mike Matson said in a Monday note.

"Overall, we remain cautious on INMD given the uncertain economic outlook and lack of visibility into INMD's growth outlook," said Matson.

The company reported preliminary Q1 revenue of $77.2 million to $77.5 million on Monday and reiterated its full-year 2025 revenue guidance of $395 million to $405 million.

According to the note, InMode attributed the weaker Q1 results to ongoing macroeconomic challenges. Matson said InMode is expected provide further details during its Q1 earnings call on April 28.

Needham has a hold rating on InMode.

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