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Nisun International Reports Financial Results for Fiscal Year 2023: Nisun Achieves 65% Revenue Growth and Ends the Year with $29.0 Cash Per Share

Published

6 months ago

on

SHANGHAI, July 12, 2024 /PRNewswire/ — Nisun International Enterprise Development Group Co., Ltd. (“Nisun International” or the “Company”) (NASDAQ: NISN), a technology and industry driven integrated supply chain solutions provider, today announced its financial results for the fiscal year ended December 31, 2023.

Financial Highlights:

Revenue: Total revenue for the year was $386.7 million, representing a 65% increase compared to $234.2 million in 2022.Gross Profit: Gross profit increased to $40.0 million from $37.0 million in the previous year.Net Income: Net income for 2023 was $17.7 million.Cash and Cash Equivalents: The Company ended the year with $114.5 million in cash and cash equivalents.Earnings per Share (EPS): The Company reported earnings of $4.46 per share, with a cash per share value of $29.0.

CEO’s Comments:

Xin Liu, CEO of Nisun International, commented, “We are thrilled to report another year of outstanding financial performance, underscoring the success of our strategic initiatives and operational excellence. Our revenue growth of 65% is a testament to our robust supply chain solutions.  We have made significant strides in expanding our supply chain capabilities,  diversifying into other agricultural products. These efforts have positioned us well for sustained growth and profitability.”

Mr. Liu continued, “Despite our strong financial performance, substantial cash reserves of $29.0 per share, and robust earnings, our stock trades at just over one times annual earnings by the end of June. We believe this significantly undervalues our company. The Board of Directors and I are actively considering strategic alternatives to unlock shareholder value and better align our market valuation with the intrinsic value of our company. Our strong cash position and ongoing growth initiatives provide a solid foundation for these efforts.”

Operational Highlights:

Supply Chain Trading and Solutions: Nisun International continues to enhance its supply chain trading and financing solutions capabilities, leveraging state-of-the-art technology to streamline operations and reduce costs. The Company successfully managed the daily supply of 3.6 to 6 million eggs to major online platforms across key regions.Geographical Expansion: The Company’s supply chain operations now span multiple regions, enabling delivery of a diverse range of products. This extensive network ensures seamless operations and strengthens Nisun’s market presence.Diversification: Nisun has expanded its supply chain solutions to include other agricultural products, positioning the Company for substantial growth in the agricultural sector.

Looking Ahead:

Mr. Liu added, “Our commitment to innovation and excellence remains unwavering as we continue to drive growth and create value for our shareholders. The strategic expansion of our supply chain solution  will enable us to meet the evolving needs of our customers and capitalize on new market opportunities. We are excited about the future and confident in our ability to achieve even greater success.”

Investor Relations:

For more information, please visit the Investor Relations section of Nisun International’s  website at: www.nisun-international.com.

About Nisun International:

Nisun International Enterprise Development Group Co., Ltd (NASDAQ: NISN) is a technology-driven, integrated supply chain solutions provider focused on transforming the corporate finance industry. Leveraging its industry experience, Nisun is dedicated to providing professional supply chain solutions to Chinese and foreign enterprises and financial institutions. Through its subsidiaries, Nisun provides users with professional solutions for technology supply chain management, technology asset routing, and digital transformation of tech and finance institutions, enabling the industry to strengthen and grow. At the same time, Nisun continues to deepen the field of industry segmentation through industrial and financial integration. Focusing on industry-finance linkages, Nisun aims to serve the upstream and downstream of the industrial supply chain while also assisting with supply-side sub-sector reform.

Cautionary Note Regarding Forward-Looking Statements

This press release contains information about Nisun’s view of its future expectations, plans and prospects that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. Actual results may differ materially from historical results or those indicated by these forward-looking statements as a result of a variety of factors including, but not limited to, risks and uncertainties associated with its ability to raise additional funding, its ability to maintain and grow its business, variability of operating results, its ability to maintain and enhance its brand, its development and introduction of new products and services, the successful integration of acquired companies, technologies and assets into its portfolio of products and services, marketing and other business development initiatives, competition in the industry, general government regulation, economic conditions, dependence on key personnel, the ability to attract, hire and retain personnel who possess the technical skills and experience necessary to meet the requirements of its clients, and its ability to protect its intellectual property. Nisun encourages you to review other factors that may affect its future results in Nisun’s registration statement and in its other filings with the Securities and Exchange Commission. Nisun assumes no obligation to update or revise its forward-looking statements as a result of new information, future events or otherwise, except as expressly required by applicable law.

For more information, please contact:

Nisun International Enterprise Development Group Co., Ltd

Investor Relations
Tel: +86 (21) 2357-0055
Email: ir@cnisun.com 

Horizon Research Management Consultancy
Michael Wei
Email: hwey@horizonconsultancy.co 

 

 

NISUN INTERNATIONAL ENTERPRISE DEVELOPMENT GROUP CO., LTD AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS

(EXPRESSED IN US DOLLARS)

December 31,
2023

December 31,
2022

ASSETS

CURRENT ASSETS:

Cash and cash equivalents

$

114,454,844

$

63,901,329

Restricted cash

197,096

3,417,244

Short-term investments

12,788,629

11,700,400

Accounts receivable, net

21,120,795

18,931,346

Advance to suppliers, net

38,602,304

46,968,549

Receivables from supply chain solutions

59,167,029

43,475,981

Inventories

30,953,583

31,609,877

Prepaid expenses and other current assets

16,018,778

10,890,083

TOTAL CURRENT ASSETS

293,303,058

230,894,809

NON-CURRENT ASSETS:

Property and equipment, net

881,276

719,574

Intangible assets, net

882,828

1,795,234

Right-of-use assets, net

2,384,590

3,349,432

Equity investments

368,528

373,292

Investment in limited partnership

–

14,913,539

Goodwill

17,659,983

23,814,005

Deferred tax assets, net

418,571

310,577

Long term investment

–

7,249,319

TOTAL NON-CURRENT ASSETS

22,595,776

52,524,972

TOTAL ASSETS

$

315,898,834

$

283,419,781

LIABILITIES

CURRENT LIABILITIES:

Accounts payable

$

45,463,753

$

40,925,155

Short-term bank loans

1,971,859

434,959

Accrued expenses and other current liabilities

7,245,358

6,090,582

Operating lease liabilities – current

861,087

1,008,766

Payables to supply chain solutions

12,947,708

9,122,978

Advances from customers

38,153,915

21,827,387

Taxes payable

4,145,920

2,748,474

Loan from related party

–

8,028,965

Liabilities of financial guarantee

22,335

–

Due to related parties – current

274,652

282,724

TOTAL CURRENT LIABILITIES

111,086,587

90,469,990

Operating lease liabilities – non-current

1,643,076

2,425,597

Deferred tax liabilities

114,650

727,326

TOTAL NON-CURRENT LIABILITIES

1,757,726

3,152,923

TOTAL LIABILITIES

112,844,313

93,622,913

SHAREHOLDERS’ EQUITY*:

Class A common stock, $0.01 par value, 30,000,000 and 30,000,000 shares

   authorized, 4,017,596 and 4,006,263 shares issued, and 3,952,198 and 3,944,075

   shares outstanding as of December 31, 2023 and 2022, respectively

40,176

40,063

Class B common stock, $0.01 par value, 1,000,000 shares authorized, no shares

   issued and outstanding as of December 31, 2023 and 2022

–

–

Treasury shares

(261,592)

(355,844)

Additional paid-in capital

130,535,082

130,503,387

Retained earnings

68,395,637

53,214,304

Statutory reserves

11,564,250

9,167,845

Accumulated other comprehensive loss

(11,474,682)

(6,937,950)

COMMON SHAREHOLDERS’ EQUITY

198,798,871

185,631,805

Non-controlling interests

4,255,650

4,165,063

TOTAL SHAREHOLDERS’ EQUITY

203,054,521

189,796,868

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY

$

315,898,834

$

283,419,781

* The financial statements give retroactive effect to the May 18, 2023 one-for-ten reverse share split.

 

 

NISUN INTERNATIONAL ENTERPRISE DEVELOPMENT GROUP CO., LTD AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

(EXPRESSED IN US DOLLARS)

For the Year Ended December 31,

2023

2022

2021

   REVENUES:

   Revenue generated from services:

      Small and Medium Enterprise financing solutions

$

101,823,899

$

87,269,959

$

87,133,963

      Supply Chain financing solutions

6,153,645

3,542,592

4,930,289

      Other financing solutions

–

–

3,222

Total revenue generated from services

107,977,544

90,812,551

92,067,474

      Revenue generated from sales:

Supply chain trading business

278,693,355

143,361,714

68,132,237

                Total revenues

386,670,899

234,174,265

160,199,711

   COST OF REVENUE:

      Cost of revenue – services

(68,154,833)

(55,472,076)

(37,989,001)

      Cost of revenue – sales

(278,002,800)

(140,880,063)

(67,628,806)

      Business and sales related taxes

(527,336)

(772,830)

(533,760)

   GROSS PROFIT

39,985,930

37,049,296

54,048,144

   OPERATING EXPENSES:

      Selling expenses

(1,525,692)

(1,977,617)

(2,323,403)

      General and administrative expenses

(10,859,011)

(10,511,542)

(11,641,567)

      Research and development expenses

(1,093,457)

(1,563,718)

(1,599,728)

      Bad debt expense

(2,215,016)

(4,509,634)

(294,536)

      Goodwill Impairment Loss

(5,488,816)

(777,329)

–

Total operating expenses

(21,181,992)

(19,339,840)

(15,859,234)

   INCOME FROM OPERATIONS

18,803,938

17,709,456

38,188,910

   OTHER INCOME :

      Interest and investment income

2,557,588

2,790,768

2,122,903

      Other income , net

2,159,301

2,021,688

464,210

Total other income, net

4,716,889

4,812,456

2,587,113

INCOME BEFORE PROVISION FOR INCOME TAXES

23,520,827

22,521,912

40,776,023

PROVISION FOR INCOME TAXES

(5,817,147)

(4,741,854)

(10,269,501)

NET INCOME

17,703,680

17,780,058

30,506,522

Net income attributable to non-controlling interests

(125,942)

(159,246)

(126,161)

NET INCOME – Nisun International’s shareholders

$

17,577,738

$

17,620,812

$

30,380,361

OTHER COMPREHENSIVE INCOME (LOSS)

      Foreign currency translation (loss) income

(4,536,797)

(12,576,380)

2,039,011

COMPREHENSIVE INCOME

13,040,941

5,044,432

32,419,372

Comprehensive loss attributable to non-controlling interests

65

6,231

2,051

COMPREHENSIVE INCOME

$

13,041,006

$

5,050,663

$

32,421,423

BASIC AND DILUTED EARNINGS PER COMMON SHARE:

NET EARNINGS PER COMMON SHARE

$

4.46

$

4.42

$

14.13

Weighted average number of shares outstanding-basic and diluted*

3,943,793

3,986,359

2,150,683

* The financial statements give retroactive effect to the May 18, 2023 one-for-ten reverse share split.

 

 

 

NISUN INTERNATIONAL ENTERPRISE DEVELOPMENT GROUP CO., LTD AND SUBSIDIARIES

CONDENSED STATEMENTS OF CASH FLOWS

FOR THE YEARS ENDED DECEMBER 31, 2023, 2022 and 2021

(EXPRESSED IN US DOLLARS)

2023

2022

2021

   CASH FLOWS FROM OPERATING ACTIVITIES:

Net income

$

17,703,680

$

17,780,058

$

30,506,522

      Adjustments to reconcile net income to net cash provided by (used

           in) operating activities:

Depreciation and amortization

2,238,222

2,113,732

2,180,038

Stock-based compensation

–

125,630

498,825

Shares issued for compensation

31,808

185,000

71,175

Bad debt expense

2,215,016

4,509,634

294,536

Impairment of goodwill

5,488,816

777,329

–

Loss on disposition of property and equipment

–

1,385

190,301

Income from investments

(365,359)

(541,578)

(808,464)

Deferred tax (benefit) expense

(710,672)

271,907

275,749

Changes in operating assets and liabilities:

                Accounts receivable

(3,086,600)

(2,075,274)

(13,294,924)

                Advance to suppliers, net

7,282,068

(39,859,386)

(9,213,279)

                Prepaid expenses and other current assets

(5,511,142)

(4,734,501)

(3,464,939)

                Receivables from supply chain solutions

(18,651,357)

11,372,841

(48,202,128)

                Inventories

(246,818)

(25,530,993)

(3,931,400)

                Accounts payable

5,722,300

7,693,011

33,620,611

                Advance from customers

16,986,750

19,085,377

3,375,769

                Taxes payable

1,478,316

(5,574,048)

5,575,502

                Other payables

3,232,387

–

2,576,570

                Payable to supply chain solutions

4,096,141

(15,198,883)

25,608,622

                Operating lease liabilities

(834,381)

(855,242)

(952,495)

                Accrued expenses and other current liabilities

(1,569,395)

1,501,078

(1,049,489)

NET CASH (USED IN) PROVIDED BY OPERATING

   ACTIVITIES

35,499,780

(28,952,923)

23,857,102

CASH FLOWS FROM INVESTING ACTIVITIES:

      Acquisition of property and equipment

(503,957)

(652,585)

(186,705)

      Purchase of intangible assets

(44,029)

(74,710)

(18,281)

      Cash (paid) received in connection with Nami acquisition

–

–

(7,007,905)

      Cash paid in connection with acquisition, net of cash received

–

(530,322)

–

      Cash received on disposal of discontinued operations

–

–

14,950,730

      Proceeds from sale of short-term investments

103,458,984

78,595,280

4,894,270

      Proceeds from sale of Long-term investment

7,061,233

–

–

      Proceeds from investment in debt securities

14,366,013

–

–

      Purchase of short-term investments

(104,365,028)

(51,567,746)

(39,526,099)

      Purchase of Long-term investments

–

(7,430,511)

–

      Collection of loans to third parties

–

–

1,643,203

      Proceeds from disposal of subsidiary

71,514

–

–

      Loans to third parties

(229,161)

(501,905)

–

NET CASH PROVIDED BY (USED IN) INVESTING

   ACTIVITIES

19,815,569

17,837,501

(25,250,787)

CASH FLOWS FROM FINANCING ACTIVITIES:

      Proceeds from short-term bank loans

1,553,471

445,831

784,609

      Proceeds from issuance of common shares and pre-funded warrants

–

–

70,794,465

      Proceeds from third-party loans

1,977,145

36,770,626

–

      Repayment of short-term bank loans

(29,961)

(1,239,983)

–

      Repayment of third-party loans

(2,277,954)

(41,491,973)

–

      Repayment to related parties

–

(10,097)

(1,803,374)

      Repayment of loan from related parties

(8,028,965)

(2,500,000)

–

      Purchase of treasury shares

94,252

(355,844)

–

      Capital contribution from non-controlling interest

(35,290)

37,116

751,841

NET CASH (USED IN) PROVIDED BY FINANCING

   ACTIVITIES

(6,747,302)

(8,344,324)

70,527,541

EFFECT OF EXCHANGE RATE CHANGE ON CASH AND

   CASH EQUIVALENTS

(1,234,680)

(4,848,722)

294,928

NET (DECREASE) INCREASE IN CASH AND CASH

   EQUIVALENTS

47,333,367

(24,308,468)

69,428,784

CASH AND CASH EQUIVALENTS AND RESTRICTED CASH

   FROM CONTINUING OPERATIONS-BEGINNING

67,318,573

91,627,041

22,198,257

CASH AND CASH EQUIVALENTS AND RESTRICTED CASH

   FROM CONTINUING OPERATIONS-ENDING

$

114,651,940

$

67,318,573

$

91,627,041

SUPPLEMENTAL CASH FLOW DISCLOSURES:

      Cash paid for income taxes

$

4,530,963

$

10,385,495

$

5,546,082

      Cash paid for interest

$

29,961

$

496,932

$

370,356

SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITIES:

      Repayment payable for business disposition

279,037

–

–

      Receivable from disposal of subsidiary

$

–

$

289,973

$

–

         Lease liabilities arising from obtaining right-of-use
         assets

295,220

4,070,163

–

      Issuance of shares for share-based compensation

$

–

$

–

$

71,175

CASH AND CASH EQUIVALENTS FROM CONTINUING

   OPERATIONS ARE COMPRISED OF THE FOLLOWING:

Cash and cash equivalents

$

114,454,844

$

63,901,329

$

91,447,620

Restricted cash

197,096

3,417,244

179,421

Total cash, cash equivalents and restricted cash

$

114,651,940

$

67,318,573

$

91,627,041

 

 

View original content:https://www.prnewswire.com/news-releases/nisun-international-reports-financial-results-for-fiscal-year-2023-nisun-achieves-65-revenue-growth-and-ends-the-year-with-29-0-cash-per-share-302195735.html

SOURCE Nisun International Enterprise Development Group Co., Ltd

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Technology

Shutterstock Appoints Matt Furlong as Chief Marketplace Officer

Published

2 minutes ago

on

January 8, 2025

By

Former Gamestop executive to join leadership team as head of Marketplace division

NEW YORK, Jan. 8, 2025 /PRNewswire/ — Shutterstock, Inc. (NYSE: SSTK) (the “Company”), a leading global creative platform offering high-quality creative content for transformative brands, digital media and marketing companies, today announced that Matt Furlong will be joining Shutterstock to lead the company’s Marketplace division as Chief Marketplace Officer on Monday, January 13.

In this position and as part of the Shutterstock executive leadership team, Matt will have a key role in shaping the overall strategy, operations and growth of the Marketplace division, which houses the company’s individual user products and solutions across various ecommerce platforms.

“Matt’s extensive leadership experience and deep operational expertise will be a valuable asset to Shutterstock,” said Paul Hennessy, Chief Executive Officer of Shutterstock. “We’re confident in his ability to drive the focus and growth needed to better serve our Marketplace customers while helping to achieve our overall business strategy.”

Matt will also be responsible for ensuring alignment with business goals across Shutterstock’s creative content brands, including PremiumBeat, Pond5 and TurboSquid. In addition, he will oversee the company’s Global Customer Success team.

“I’m thrilled to join Shutterstock at such an exciting time in their transformation as a premier visual content company dedicated to empowering creatives,” said Furlong. “I’ve built my career innovating for customers while building leadership brands, and look forward to doing the same for the Shutterstock Marketplace division.”

Previously, Matt served as the CEO of GameStop for two years, where he was focused on strengthening the customer experience while driving business transformation. Prior to Gamestop, he led numerous multi-billion dollar businesses at Amazon, culminating in his role as the Country Manager for Amazon Australia. Matt began his career at P&G, where he worked for 12 years before joining Amazon.

About Shutterstock, Inc.
Shutterstock, Inc. (NYSE: SSTK) is a premier partner for transformative brands, digital media and marketing companies, empowering the world to create with confidence. Fueled by millions of creators around the world and a fearless approach to product innovation, Shutterstock is the leading global platform for licensing from the most extensive and diverse collection of high-quality 3D models, videos, music, photographs, vectors and illustrations. From the world’s largest content marketplace, to breaking news and A-list entertainment editorial access, to all-in-one content editing platform and studio production service—all using the latest in innovative technology—Shutterstock offers the most comprehensive selection of resources to bring storytelling to life. 

Learn more at www.shutterstock.com and follow us on LinkedIn, Instagram, Twitter, Facebook and YouTube.

View original content to download multimedia:https://www.prnewswire.com/news-releases/shutterstock-appoints-matt-furlong-as-chief-marketplace-officer-302345154.html

SOURCE Shutterstock, Inc.

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Technology

InMode to Report Fourth Quarter & Full Year 2024 Financial Results and Hold Conference Call on February 6, 2025, Expects Q4 Revenue Between $97.0M-$97.5M

Published

2 minutes ago

on

January 8, 2025

By

Conference call to be held on Thursday, February 6, 2025, at 8:30 a.m. Eastern Standard Time

YOKNEAM, Israel, Jan. 8, 2025 /PRNewswire/ — InMode Ltd. (Nasdaq: INMD), a leading global provider of innovative medical technologies, announced today that it expects to release its financial results for the fourth quarter and full year 2024 before the Nasdaq market opens on Thursday, February 6, 2025.

InMode is currently finalizing its financial results for the fourth quarter and full year of 2024. Management believes that preliminary results reflect stronger-than-expected headwinds in the aesthetics industry, further intensified by broader macroeconomic challenges. While complete financial information and operating data are not yet available, set forth below are certain preliminary financial results for said periods, subject to final adjustments and other developments that may arise between now and the time such financial results are published. Based on preliminary results, management expects:

Revenue for the fourth quarter of 2024 to be in the range of $97.0 million to $97.5 million and revenue for the full year of 2024 to be in the range of $394.0 million to $394.5 millionNon-GAAP1 gross margin for the full year of 2024 to be in the range of 80% to 81%Full year 2025 revenue to be in the range of $395 million to $405 million

1Please refer to “Use of Non-GAAP Financial Measure” below for important information about non-GAAP financial measures. Non-GAAP results exclude share-based compensation.

InMode will host a conference call to discuss the fourth quarter and full year 2024 financial results on Thursday, February 6, 2025, at 8:30 a.m. Eastern Standard Time with presentations from management including Moshe Mizrahy, Chief Executive Officer, Yair Malca, Chief Financial Officer and Dr. Michael Kreindel, Chief Technology Officer.

The Company encourages participants to pre-register for the conference call using the following link: https://dpregister.com/sreg/10195703/fe3de01ec4. Callers will receive a unique dial-in upon registration, which enables immediate access on the day of the call. Participants may pre-register at any time, including up to and after the call start time.

For callers that opt out of pre-registration, please dial one of the following teleconferencing numbers. Please begin by placing your call 10 minutes before the conference call commences. If you are unable to connect using the toll-free number, please try the international dial-in number.

U.S. Toll-Free: 1-833-316-0562
Israel Toll-Free: 1-80-921-2373
International: 1-412-317-5736                                                                                      

Webcast: https://event.choruscall.com/mediaframe/webcast.html?webcastid=4AkhyaPz

At:

8:30 a.m. Eastern Time
5:30 a.m. Pacific Time

The conference call will also be webcast live from a link on InMode’s website at https://inmodemd.com/investors/events-presentations/. A replay of the conference call will be available from February 6, 2025, at 12:00 p.m. Eastern Time to February 13, 2025, at 11:59 p.m. Eastern Time. To access the replay, please dial one of the following numbers:

Replay U.S. TOLL-FREE: 1-877-344-7529
Replay TOLL/INTERNATIONAL: 1-412-317-0088
Replay Pin Number: 4023671

A replay will also be available for 90 days on InMode’s website at: https://inmodemd.com/investors/events-presentations/. 

About InMode

InMode is a leading global provider of innovative medical technologies. InMode develops, manufactures, and markets devices harnessing novel radiofrequency (“RF”) technology. InMode strives to enable new emerging surgical procedures as well as improve existing treatments. InMode has leveraged its medically accepted minimally invasive RF technologies to offer a comprehensive line of products across several categories for plastic surgery, gynecology, dermatology, otolaryngology, and ophthalmology. For more information about InMode and its wide array of medical technologies, visit www.inmodemd.com.

Forward-Looking Statements

The information in this press release includes forward-looking statements within the meaning of the federal securities laws. These statements generally relate to future events or InMode’s future financial or operating performance, including, but not limited to, the 2025 revenue projection described above. Actual outcomes and results may differ materially from what is expressed or forecast in such forward-looking statements. In some cases, you can identify these statements because they contain words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “will,” “would” and similar expressions that concern our expectations, strategic plans or intentions. Forward-looking statements are based on management’s current expectations and assumptions, and are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Consequently, actual results could differ materially from those indicated in these forward-looking statements. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements included in InMode’s Annual Report on Form 20-F filed with the Securities and Exchange Commission on February 13, 2024, and our future public filings. InMode undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release. You are cautioned not to place undue reliance on these forward-looking statements, which pertain only as of the date of this press release.

Use of Non-GAAP Financial Measure

In addition to InMode’s operating results presented in accordance with GAAP, this release includes non-GAAP gross margin. Because this measure is used in InMode’s internal analysis of financial and operating performance, management believes that it provides greater transparency to investors of management’s view of InMode’s economic performance. Management also believes the presentation of this measure, when analyzed in conjunction with InMode’s GAAP operating results, allows investors to evaluate and compare the performance of InMode to that of its peers, although InMode’s presentation of its non-GAAP measure may not be comparable to other similarly titled measures of other companies more effectively.

 

Company Contact:

Yair Malca

Chief Financial Officer

Email: Yair.Malca@inmodemd.com

Investor Relations Contact:

Miri Segal

MS-IR LLC

Email: ir@inmodemd.com

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SOURCE InMode Ltd.

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Setting New Year’s Resolutions? 91% of Canadians believe we should choose progress over perfection

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2 minutes ago

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January 8, 2025

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The no. 1 global nutrition and food tracking app, MyFitnessPal, helps users embrace sustainable eating habits in the New Year, without the pressure and intensity of an ‘all or nothing’ mindset

TORONTO, Jan. 8, 2025 /CNW/ – The new year is here and with it, the push to set and maintain health-focused resolutions. Whether it’s the latest diet trend on social media, the guilt that creeps in after holiday festivities, or the long-held belief that this is the one time a year to become a “new you,” this kind of pressure is not a sustainable approach to wellness. A recent survey shows that of the 19% of Canadians that tried a fad diet, 43% were not successful in reaching their health goals. The New Year can be a fresh start, which is why MyFitnessPal, the no. 1 global nutrition and food tracking app, is encouraging its members to embrace the philosophy of progress over perfection.

Survey Says:

Of those who tried a fad diet and were not successful, 70% say it was because the diet was too restrictive.24% of Gen Z and Millennials have tried a fad diet.91% of Canadians surveyed agree that focusing on progress over perfection is the best approach to successfully achieving a health goal.

Rather than restricting or depriving yourself, it’s about making intentional choices. By planning your week and tracking your food, you will build realistic, achievable habits that account for the moments when real life happens––setting a foundation not only for today, but for life.

“MyFitnessPal acknowledges the mad fads that have been encouraged over the years in a bid for achieving what society deems ‘perfect’,” says Head of Nutrition, Melissa Jaeger, RD. “At MyFitnessPal, we encourage striving for progress, not the concept of ‘perfection’. Restrictive diets lack sustainability and overall nutrient balance – a few factors that contribute to why ‘quick fixes’, fad, or restrictive diets aren’t the solution to achieving long term health goals. Instead of trying the latest fad or revisiting an old trend – try tracking your foods, building awareness of your nutrition habits, and knowing where you stand with your health. Most importantly, don’t let it get in the way of real life. Have a piece of cake on your child’s birthday and enjoy some poutine occasionally––because that’s real life.”

To ensure you always know where you stand when life gets real, Melissa created three tips for a healthy and joyful January.

Add, Don’t Subtract 
Instead of focusing on what you would cut out from your diet this January, set a goal for what you could add to your diet to help support overall motivation and progress towards health and nutrition goals.

Consider setting a SMART – Specific, Measurable, Achievable, Relevant and Time Bound – goal to increase daily fruit, vegetable, or water intake. Not only can small steps support overall health goals, they can also reframe how we view our diet when it comes to goal setting. An app like MyFitnessPal makes tracking fruit and vegetable intake simple through the My Weekly Report feature, highlighting dietary patterns based on food groups. You can also track daily water intake via the water tracking widget in the app’s home screen.

Stay Social While Staying on Track
Life doesn’t stop when you set a health goal and it shouldn’t have to. Instead of saying no to dinners at restaurants with family or happy hours with friends, account for these moments by logging your meals so you always know where you stand on the journey to meeting your health goals.

“Tracking what you eat can help you understand the impact of your dietary choices, encouraging a healthier and more mindful approach to eating. When you allow room for flexibility, like enjoying a side of fries, you’re more likely to stay motivated to keep progressing towards your health goals,” says Jaeger.

Don’t Put too Much on January or Yourself
Remember that January is just one month out of the year. Just as one meal, snack or beverage isn’t going to make or break your progress towards your health goals, the first month of the year isn’t the only month to focus on your health goals. Prioritize your health and wellbeing year-round, using tracking tools like MyFitnessPal to gain insight into your dietary habits and learn where you have room for modifications to support your goals.

For more information on MyFitnessPal, visit www.myfitnesspal.com or download the app for free via the App Store or Google Play.

Methodology
This Maru Public Opinion survey conducted on behalf of MyFitnessPal was undertaken by the sample and data collection experts at Maru/Blue. 1,531 randomly selected Canadians adults who are Maru Voice Canada online panelists were surveyed from December 18 to December 19, 2024. The results of this study have been weighted by education, age, gender, and region (and in Quebec, language) to match the population, according to Census data. This is to ensure the sample is representative of the entire adult population of Canada. For comparison purposes, a probability sample of this size has an estimated margin of error (which measures sampling variability) of +/- 2.5%, 19 times out of 20. Discrepancies in or between totals when compared to the data tables are due to rounding. 

About MyFitnessPal
MyFitnessPal is the #1 global nutrition and food tracking app for achieving health goals, especially weight management. Since 2005, MyFitnessPal has empowered over 200 million users in over 120 countries to improve their health by tracking their food, recording exercise activity, and logging their weight. As one of the world’s most trusted resources on nutrition, MyFitnessPal’s mission is to help people around the world reach their health goals through better food choices by providing knowledge, motivation and a sense of progress. With one of the largest food databases in the world comprising over 19 million foods, access to over 500 recipes, more than 50 workout routines and exercise demos, and over 40 connected fitness partners, MyFitnessPal provides users with tools for positive healthy change. The MyFitnessPal app is available on the App Store and Google Play store. To learn more, visit www.myfitnesspal.com or follow MyFitnessPal on Facebook, Instagram, LinkedIn, TikTok and Twitter.

SOURCE MyFitnessPal

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