Inmode Ltd (INMD) 2022 Q3 法說會逐字稿

Good day, and welcome to the InMode Third Quarter 2022 Earnings Results Conference Call. All participants would be on listen only mode. Should you need assistance please signal the call specialist by pressing the star key followed by 0. After today's presentation, there will be an opportunity to ask question. To ask a question you may star then 1 on your touchtone phone. To withdraw from the question queue, please test star then 2. Please note this event is being recorded. I would now like to turn the conference over to Miri Segal, CEO of MS-IR. Please go ahead.

美好的一天，歡迎參加 InMode 2022 年第三季度收益結果電話會議。所有參與者都將處於只聽模式。如果您需要幫助，請按星號鍵和 0 向呼叫專家發出信號。今天的演示結束後，將有機會提問。要提出問題，您可以在按鍵式電話上加註 1。要退出問題隊列，請先測試星星然後2。請注意此事件正在記錄中。我現在想把會議交給 MS-IR 的首席執行官 Miri Segal。請繼續。

Thank you, operator, and everyone, for joining us today. Before we begin, I'd like to remind our listeners that certain information provided on this call may contain forward-looking statements and that the safe harbor statement outlined in today's earnings release also pertains to this call. If you have not received a copy of the release, please go to the Investor Relations section of the company's website. Changes in business, competitive, technological, regulatory and other factors could cause actual results to differ materially from those expressed by the forward-looking statements made today. Our historical results are not necessarily indicative of future performance. As such, we can give no assurance as to the accuracy of our forward-looking statements and assume no obligation to update them except as required by law. With that, I'd like to pass the call over to Moshe Mizrahy, Chairman and CEO. Moshe, please go ahead.

感謝運營商和大家今天加入我們。在我們開始之前，我想提醒我們的聽眾，本次電話會議中提供的某些信息可能包含前瞻性陳述，並且今天的收益發布中概述的安全港聲明也與本次電話會議有關。如果您沒有收到新聞稿的副本，請訪問公司網站的投資者關係部分。業務、競爭、技術、監管和其他因素的變化可能導致實際結果與今天做出的前瞻性陳述所表達的結果大不相同。我們的歷史結果不一定代表未來的表現。因此，我們不能保證我們的前瞻性陳述的準確性，並且除法律要求外不承擔更新這些陳述的義務。有了這個，我想把電話轉給董事長兼首席執行官 Moshe Mizrahy。莫舍，請繼續。

Thank you, Miri, and to everyone joining us for Q3 2022 earnings call. With me today are Dr. Michael Kreindel, our Co-Founder and Chief Technology Officer; Yair Malca, our CFO; Shakil Lakhani, our President in North America; Dr. Spero Theodorou, our Chief Medical Officer; and Rafael Lickerman, our VP of Finance. Following our prepared remarks, we will all be available for Q&A session. We are pleased to report another record quarter with revenue of $121.2 million, an increase of 29% compared to the same period last year. Additionally, we are happy to be back to gross margin of 85%. Despite our expectation that Q3 should represent summer slow quarter, demand for our innovative platforms remain strong around the world in Q3. and we expect this momentum to continue into next year. Although physician and patients return to pre-covid travel levels, people still visited clinics for treatment with our platform. Our Empower platforms for women health and wellness was especially successful in the third quarter, and we expect to continue to capture market share in this market going forward. A primary goal for InMode is to expand our presence in women health and in wellness space in general. And we are encouraged by our early success in this market. We believe InMode has proven and a steady company that's relying on strong technological offering can successfully evolve and expand into new and important markets such as wellness and quality of life improvement. We intend to continue this trend in the area of ophthalmology, A&T and others. Our revenue continued to grow. The (inaudible) is becoming the most popular minimally invasive device in the static category. We're driving this growth through brand awareness strategies and more direct focus on the consumer. Our highly efficient sales team of more than 200 direct rep and 70-plus distributors worldwide continued to excellent execution with sales of capital equipment to represent 88% of our total revenue in the third quarter, while sales of consumable and services accounted for the remaining 12%. -- as our installed base grows and we expand our market share, consumable and service will contribute a more significant portion to the revenue mix going forward. hand-free devices represent 11% of total revenue, while noninvasive RF and laser platforms accounted for 7%. These figures represent normal level in our revenue mix. Moving to our international operations. Third quarter sales outside the U.S. accounted for $39.8 million or 32% of sales, a 26% increase compared to Q3 last year. InMode now operate in total of 80 countries. Our recently open subsidiary in Italy is already very successful, and we are planning to establish an additional subsidiary in Europe and 1 in Asia in 2023. During the third quarter, IMO successfully launched EvolveX and Empower in Asia as we continue to see growing demand from Europe, Asia and Latin America. In addition to our active pipeline of new technology, we are also exploring potential acquisitions that could complement our presence in the wellness market. This could be companies with an established track record in an existing customer base in the U.S. and globally. In summary, we are proud to deliver another record -- another record record quarter, and we believe this position -- this positive momentum will continue. Now I would like to turn the call over to Shakil, our President in North America. Shakil, please?

謝謝你，美里，以及所有加入我們的 2022 年第三季度財報電話會議的人。今天和我在一起的是我們的聯合創始人兼首席技術官 Michael Kreindel 博士；我們的首席財務官 Yair Malca； Shakil Lakhani，我們的北美總裁；我們的首席醫療官 Spero Theodorou 博士；和我們的財務副總裁 Rafael Lickerman。在我們準備好的評論之後，我們都可以參加問答環節。我們很高興地報告另一個創紀錄的季度收入為 1.212 億美元，與去年同期相比增長 29%。此外，我們很高興回到 85% 的毛利率。儘管我們預計第三季度應該是夏季緩慢的季度，但第三季度全球對我們創新平台的需求仍然強勁。我們預計這種勢頭將持續到明年。儘管醫生和患者恢復到疫情前的旅行水平，但人們仍然通過我們的平台前往診所接受治療。我們的 Empower 女性健康和保健平台在第三季度特別成功，我們預計未來將繼續在該市場佔據市場份額。 InMode 的主要目標是擴大我們在女性健康和整體健康領域的影響力。我們對我們在這個市場的早期成功感到鼓舞。我們相信 InMode 已經證明，一家依靠強大技術產品的穩定公司可以成功發展並擴展到新的重要市場，例如健康和改善生活質量。我們打算在眼科、A&T 和其他領域繼續這一趨勢。我們的收入繼續增長。 （聽不清）正在成為靜態類別中最流行的微創設備。我們通過品牌知名度戰略和更直接地關註消費者來推動這種增長。我們由全球 200 多名直接代表和 70 多家分銷商組成的高效銷售團隊繼續出色地執行，資本設備的銷售占我們第三季度總收入的 88%，而消耗品和服務的銷售佔其餘 12 %。 ——隨著我們安裝基礎的增長和我們擴大市場份額，消耗品和服務將在未來的收入組合中貢獻更大的一部分。免提設備佔總收入的 11%，而無創射頻和激光平台佔 7%。這些數字代表了我們收入組合的正常水平。轉移到我們的國際業務。第三季度美國以外的銷售額為 3980 萬美元，佔銷售額的 32%，與去年第三季度相比增長了 26%。 InMode 現在在 80 個國家/地區開展業務。我們最近在意大利開設的子公司已經非常成功，我們計劃在 2023 年在歐洲和亞洲分別開設一家子公司。在第三季度，IMO 在亞洲成功推出了 EvolveX 和 Empower，因為我們繼續看到來自亞洲的需求不斷增長。歐洲、亞洲和拉丁美洲。除了我們積極的新技術管道外，我們還在探索可以補充我們在健康市場的存在的潛在收購。這可能是在美國和全球現有客戶群中擁有良好業績記錄的公司。總而言之，我們很自豪能夠再創紀錄——又一個創紀錄的季度，我們相信這一立場——這種積極勢頭將繼續下去。現在我想把電話轉給我們的北美總裁沙基爾。沙基爾，好嗎？

Thanks, Moshe, and everyone, for joining us. Once again, we are pleased to report another record quarter with continued momentum bolstered by a growing demand as well as more frequent use of our technology. Sales from consumables and services remained at high levels due to the growing use of InMode's platforms. Sales in North America continued to be the main contributor to our total revenue across all platforms. Total revenue generated this quarter amounted to $91.9 million. As we look forward, this market is positioned to remain the leading growth driver for InMode. As Moshe mentioned, we have seen great success and extensive market acceptance of our Empower RF platform in the third quarter. In fact, we previously projected total sales from this platform to be $30 million for the year. However, we've already surpassed that number. When it comes to the Morpheus8 technology, we are seeing that it is becoming one of the most popular aesthetic procedures in the market. As part of our efforts to invest resources and raising in modes brand awareness among patients and physicians, we announced that Eva Longoria, the award-winning actress director and producer will be Inmode's global brand ambassador. -- our ongoing commitment to investing in brand awareness by engaging with select brand ambassadors and gaining recognition by world renowned celebrities is something we plan to continue to do in the future. Lastly, I'd like to thank our entire North American team for their continued hard work. I will now hand over the call to Yair for a review of our financial results in more detail. Yair?

感謝 Moshe 和大家加入我們。再次，我們很高興地報告又一個創紀錄的季度，隨著需求的增長以及我們技術的更頻繁使用的持續推動。由於 InMode 平台的使用越來越多，消耗品和服務的銷售額保持在高水平。北美的銷售繼續成為我們所有平台總收入的主要貢獻者。本季度產生的總收入為 9190 萬美元。正如我們所期待的那樣，這個市場將繼續成為 InMode 的主要增長動力。正如 Moshe 所說，我們在第三季度看到了 Empower RF 平台的巨大成功和廣泛的市場認可。事實上，我們之前預計該平台全年的總銷售額為 3000 萬美元。但是，我們已經超過了這個數字。當談到 Morpheus8 技術時，我們看到它正在成為市場上最受歡迎的美容程序之一。作為我們在患者和醫生中投入資源和提高 Modes 品牌知名度的努力的一部分，我們宣布獲獎女演員導演和製片人 Eva Longoria 將擔任 Inmode 的全球品牌大使。 -- 我們一直致力於通過與精選品牌大使合作來提高品牌知名度並獲得世界知名名人的認可，這是我們計劃在未來繼續做的事情。最後，我要感謝我們整個北美團隊一直以來的辛勤工作。我現在將致電 Yair，以更詳細地審查我們的財務業績。耶爾？

Thanks, Shakil, and hello, everyone. Thank you for joining. Starting with total revenue, InMode generated $121.2 million in the third quarter of 2022, a 29% year-over-year increase with a gross margin of 85% on a GAAP basis. Breaking this down, we see sales of the minimally invasive and subdermal ablative technologies in the third quarter grew 43% year-over-year to 82% of our quarterly revenues. Of the total sales in Q3, 67% came from the U.S. and 33% came from the rest of the world compared to 66% and 34%, respectively, for the same quarter in 2021. Of our international contributors, Canada, Europe and Latin America were the biggest markets driving our growth rate. Our Q3 non-GAAP gross margin remained strong at 85%. We are holding to our long-term gross margin target of 83% to 85%. However, as global supply chain challenges persist, we may see a potential short-term implication for our gross margins. Moving on, capital equipment in the third quarter represented 88% of total revenue, while consumers and service revenues accounted for the remaining 12%. The GAAP operating expenses in the third quarter were $48.7 million, a 38% increase compared to Q3 in 2021. Sales and marketing expenses increased to $43.1 million in the third quarter compared to $30.8 million in the same period last year. This increase is attributed to hiring more sales representatives, increasing our presence in the U.S. and emphasizing our penetration strategy for new products. Next, we look at share-based compensation. which increased to $7.9 million in the third quarter of 2022 compared to $3.2 million in the third quarter of 2021. On an ANDA basis, operating expenses reached $41.4 million in this quarter compared to a total of $32.3 million in the same quarter of 2021, representing a 28.1% increase. GAAP operating margin was 44% in Q3 of 2022. Non-GAAP operating margin for the third quarter of 2022 was 51%, similar to the same period last year. Looking at GAAP diluted earnings per share for the third quarter, we saw an increase to $0.58 compared to $0.52 per diluted share in Q3 of 2021. Non-GAAP diluted earnings per share for this quarter was $0.66 compared to $0.55 per diluted share in the third quarter of 2021. Once again, we ended the quarter with a strong balance sheet. As of September 30, 2022, the company had cash and cash equivalents, marketable securities and deposits of $486.4 million. This quarter, Inmode generated $45.6 million from operating activities. Before I turn the call back to Moshe, I'd like to reiterate our guidance for 2022. Revenues between $445 million and $450 million, non-GAAP gross margin between 83% to 85%. Non-GAAP income from operations between $214 million and $217 million. Non-GAAP earnings per diluted share between $2.28 and $2.30. I will now turn over the call back to Moshe.

謝謝，Shakil，大家好。感謝您的加入。從總收入開始，InMode 在 2022 年第三季度創造了 1.212 億美元，同比增長 29%，按公認會計原則計算的毛利率為 85%。細分這一點，我們看到第三季度微創和皮下消融技術的銷售額同比增長 43%，達到我們季度收入的 82%。在第三季度的總銷售額中，67% 來自美國，33% 來自世界其他地區，而 2021 年同一季度分別為 66% 和 34%。在我們的國際貢獻者中，加拿大、歐洲和拉丁美洲美國是推動我們增長率的最大市場。我們的第三季度非美國通用會計準則毛利率保持在 85% 的強勁水平。我們維持 83% 至 85% 的長期毛利率目標。然而，隨著全球供應鏈挑戰持續存在，我們可能會看到對我們毛利率的潛在短期影響。接下來，第三季度的資本設備佔總收入的 88%，而消費者和服務收入佔剩餘的 12%。第三季度的 GAAP 運營費用為 4870 萬美元，比 2021 年第三季度增長 38%。第三季度的銷售和營銷費用增加到 4310 萬美元，而去年同期為 3080 萬美元。這一增長歸因於僱傭了更多的銷售代表，增加了我們在美國的影響力，並強調了我們對新產品的滲透戰略。接下來，我們看看基於股份的薪酬。 2022 年第三季度增至 790 萬美元，而 2021 年第三季度為 320 萬美元。按 ANDA 計算，本季度運營費用達到 4140 萬美元，而 2021 年同期為 3230 萬美元，佔增長 28.1%。 2022 年第三季度 GAAP 營業利潤率為 44%。2022 年第三季度非 GAAP 營業利潤率為 51%，與去年同期相似。從第三季度的 GAAP 攤薄每股收益來看，我們看到從 2021 年第三季度的每股攤薄收益 0.52 美元增加到 0.58 美元。本季度的非 GAAP 攤薄每股收益為 0.66 美元，而第三季度的攤薄每股收益為 0.55 美元2021 年季度。我們再次以強勁的資產負債表結束本季度。截至 2022 年 9 月 30 日，公司擁有現金及現金等價物、有價證券和存款 4.864 億美元。本季度，Inmode 從經營活動中產生了 4560 萬美元。在我將電話轉回 Moshe 之前，我想重申我們對 2022 年的指導。收入在 4.45 億美元至 4.5 億美元之間，非美國通用會計準則毛利率在 83% 至 85% 之間。非美國通用會計準則運營收入在 2.14 億美元至 2.17 億美元之間。非公認會計原則每股攤薄收益在 2.28 美元至 2.30 美元之間。我現在將把電話轉回給 Moshe。

Thank you Yair,. Thank you, Shakil. Operator, I believe we're ready for Q&A.

謝謝雅爾，。謝謝你，沙基爾。接線員，我相信我們已經準備好進行問答了。

Thank you, operator. Again, thank you, everybody. To all of our shareholders, I want to thank all of our employees worldwide, who gave a lot of effort during the third quarter to make it another record. I'm sure we will do the same on the fourth quarter. We have 437 people employed by the company worldwide. We added something like 75 people from the beginning of the year. and we continue to hire as we are growing. By the way, and I'm sure it's very important to say, having $450 million revenue with 437 people. This is more than $1 million per employee, which is typical to software and not to hardware, but we managed to do it. We managed to go back to 85%, again, very hard work of our logistics supply chain manufacturing team, growing by -- we will grow close to $100 million this year. Again, thanks to all of our salespeople, distributors in North America and elsewhere. Again, thank you, everybody, and we'll see you again within 3 months. Thank you...

謝謝你，接線員。再次謝謝大家。對於我們所有的股東，我要感謝我們在全球範圍內的所有員工，他們在第三季度付出了很多努力來創造另一個記錄。我相信我們會在第四季度做同樣的事情。我們在全球擁有 437 名員工。從年初開始，我們增加了大約 75 人。隨著我們的成長，我們會繼續招聘。順便說一句，我敢肯定說，437 人擁有 4.5 億美元的收入是非常重要的。每位員工超過 100 萬美元，這是軟件而非硬件的典型情況，但我們設法做到了。我們再次成功地回到了 85%，我們的物流供應鏈製造團隊非常努力地工作，增長了——今年我們將增長近 1 億美元。再次感謝我們在北美和其他地方的所有銷售人員、分銷商。再次感謝大家，我們將在 3 個月內再次見到你們。謝謝...

This conference is now concluded. Thank you for attending today's presentation. You may now disconnect.

本次會議現已結束。感謝您參加今天的演講。您現在可以斷開連接。

Thank you, We will now begin the Question and Answer session. To ask a question you may press star then 1 on your touchtone phone -- if you are using a speaker phone, please pick up your handset before pressing the keys. To withdraw from the question queue please press star then 2. At this time, we will pause momentarily to assemble our roster. Our first question comes from Kyle Rose with Canaccord Genuity.

謝謝，我們現在開始問答環節。要提出問題，您可以在按鍵式電話上按星號，然後按 1 -- 如果您使用的是免提電話，請在按鍵前拿起您的聽筒。要退出問題隊列，請按星號，然後按 2。此時，我們將暫停片刻以組裝我們的花名冊。我們的第一個問題來自 Canaccord Genuity 的 Kyle Rose。

Great, thank you so much for taking the questions. Congrats on another strong quarter. The biggest thing I wanted to start on was just overall health of the consumer and what you're seeing on a procedural basis. I mean I think there's a lot of worry out there just with the impacts of inflation and macroeconomic volatility on just maybe not what's happening right now, but what's going to happen over the course of the next 6 to 9 months from a potential recessionary impact? What are you seeing to your customers, both on the capital side as well as underlying demand for procedures?

太好了，非常感謝您提出問題。祝賀另一個強勁的季度。我想開始的最重要的事情就是消費者的整體健康狀況以及您在程序基礎上看到的情況。我的意思是，我認為人們非常擔心通貨膨脹和宏觀經濟波動的影響可能不是現在發生的事情，而是在未來 6 到 9 個月的過程中，潛在的衰退影響會發生什麼？您對客戶有何看法，無論是在資本方面還是對程序的潛在需求？

Hi Kyle, that's Moshe. I will answer it, and then I'll let Shakil to add. Basically, in the last quarter, we did not feel there was any recession or not even a slowdown. It was a very strong quarter, especially if you take into consideration that this is a summer quarter. And as you know, summer quarter in aesthetic is not the best one, not just because doctors and patients are taking vacation and they are not available for treatment, but also because people don't want to get a static treatment during the summertime, especially not in Europe and also Latin America. This quarter, we were surprised it was very strong even compared to the third quarter of 2021 or the second quarter of 2022. So far, we don't see any recession, and we don't see a slowdown. We see the momentum continue. But I'll let Shakil to complement my answer and maybe tell you a little bit about what's going on in North America.

嗨，凱爾，那是 Moshe。我會回答它，然後我會讓 Shakil 補充。基本上，在上個季度，我們沒有感覺到有任何衰退，甚至沒有放緩。這是一個非常強勁的季度，尤其是考慮到這是一個夏季季度。而且大家知道，夏季美容並不是最好的，不僅僅是因為醫生和病人都在放假，他們沒有時間治療，還因為人們不想在夏季進行靜態治療，尤其是不在歐洲和拉丁美洲。本季度，我們感到驚訝的是，即使與 2021 年第三季度或 2022 年第二季度相比，它仍然非常強勁。到目前為止，我們沒有看到任何衰退，也沒有看到放緩。我們看到勢頭仍在繼續。但我會讓 Shakil 補充我的回答，也許會告訴你一些關於北美正在發生的事情。

Yes, absolutely. Thanks, Moshe. Yes, same thing, Kyle. So we haven't seen anything on the capital side affecting the business or being detrimental to us in any which ways. As Moshe mentioned, Q3 is typically a little slower than most quarters, at least historically speaking, we definitely did not experience that, which is very encouraging. From the consumer standpoint, I'll actually pass that over to Spero. I think you might be able to shed some color there for you. Spero?

是的，一點沒錯。謝謝，摩西。是的，同樣的事情，凱爾。因此，我們還沒有看到資本方面的任何影響業務或以任何方式對我們不利的事情。正如 Moshe 所提到的，第三季度通常比大多數季度要慢一些，至少從歷史上看，我們絕對沒有經歷過這種情況，這非常令人鼓舞。從消費者的角度來看，我實際上會將其傳遞給 Spero。我想你也許可以在那里為你染上一些顏色。斯佩羅？

Sure. Great questions. Obviously, we talk to our offices every day across the country, and we have not seen any dip in customer demand. It's important to point out that what initially was thought as a Covid bump is not really just a covid bump. 1/3 of new patients coming into practices 1/3 of new patients are actually never had plastic surgery before. So this is a paradigm shift. And we're seeing those types of patients coming to the offices that have finally considered to do what they wanted to do. And in the past, we're not part of that group. So we feel confident for the time being and as far as the future is concerned, I don't see the demand slowing anytime soon.

當然。好問題。顯然，我們每天都與全國各地的辦事處交談，而且我們沒有看到客戶需求有任何下降。重要的是要指出，最初被認為是 Covid 腫塊並不僅僅是 Covid 腫塊。 1/3 的新患者開始實踐 1/3 的新患者實際上從未接受過整形手術。所以這是一個範式轉變。我們看到這些類型的患者來到最終考慮做他們想做的事情的辦公室。在過去，我們不屬於那個群體。所以我們暫時有信心，就未來而言，我認為需求不會很快放緩。

Great. And then Moshe, I think historically, you've always kind of messaged absolute growth year-over-year as kind of being in the $50 million range. I think that range might have increased a bit when you recently moved into women's health. So I'm just kind of levels out our expectations moving forward. Should we still think about this as an absolute floor on a revenue growth perspective, it's $50 million to $75 million a year? Or how should we think about that moving forward?

偉大的。然後是 Moshe，我認為從歷史上看，你總是將絕對增長的同比增長視為在 5000 萬美元範圍內。我認為當你最近進入女性健康領域時，這個範圍可能會有所增加。所以我只是在某種程度上滿足了我們對未來的期望。我們是否仍應將其視為收入增長的絕對底線，即每年 5000 萬至 7500 萬美元？或者我們應該如何考慮向前發展？

Well, in 2021 compared to 2020, I think the growth was above $150 million. We went up from $206 million to $258 million. So it's about 100 -- more than $150 million. This year, with the new target that we gave with a new target for a full year, which is around $450 million, then we hope to do a little bit more, hopefully, the growth will be around $100 million. So basically, when we gave a target or a guidance of $50 million growth a year, that was when the company was $150 or $100 million or maybe $200 million during the covid time. Right now, we are now 400 this year, if we will end up above $450 million, it's not the same company. It's double the size. So -- and we have a better portfolio. We're entering new categories, which very successfully. If you recall, we gave a target for Empower for the women health at the beginning of the year, we said it will be $20 million. And then we raised it to $30 million. And now we are raising it to $40 million. So we are doing our best, and I believe that the success in the women's health, which is a totally different category, it's also aesthetic, but it's a totally different medical community, and we're very encouraged. So I would say that growing with 20% a year from now on is a good target for you to put in your model.

嗯，2021 年與 2020 年相比，我認為增長超過 1.5 億美元。我們從 2.06 億美元增加到 2.58 億美元。所以它大約是 100 - 超過 1.5 億美元。今年，我們給的新目標是全年的新目標，大約 4.5 億美元，然後我們希望多做一點，希望增長在 1 億美元左右。所以基本上，當我們給出每年增長 5000 萬美元的目標或指導時，那是公司在疫情期間的 150 美元或 1 億美元或 2 億美元的時候。現在，我們今年有 400 家，如果我們最終能超過 4.5 億美元，那就不是同一家公司了。它的大小是原來的兩倍。所以 - 我們有更好的投資組合。我們正在進入新的類別，這非常成功。如果你還記得，我們在年初為女性健康設定了 Empower 的目標，我們說它將是 2000 萬美元。然後我們將其提高到 3000 萬美元。現在我們將其提高到 4000 萬美元。所以我們正在盡最大努力，我相信女性健康方面的成功，這是一個完全不同的類別，也是美學上的，但這是一個完全不同的醫學界，我們很受鼓舞。所以我會說，從現在開始每年以 20% 的速度增長是一個很好的目標，你可以將其放入你的模型中。

And the last question, and I'll hop back in queue. Just obviously, everyone has seen the impact of Hurricane Ian at the end of the Q3 and to start the Q4. Obviously, that's concentrated in one region of the country. But I just wanted to think how should we think about that as an impact to the Q4? I mean does it have -- is it a headwind because you're losing days and you've got machines down? Or does it potentially pull forward some capital placements given you've got new locations that might need to upgrade or replace...Thank you

最後一個問題，我會回到隊列中。很明顯，每個人都看到了颶風伊恩在第三季度末和第四季度開始時的影響。顯然，這集中在該國的一個地區。但我只是想想想我們應該如何看待這對第四季度的影響？我的意思是它有 - 這是一個逆風，因為你正在失去幾天並且你已經讓機器停機了？或者考慮到您有可能需要升級或更換的新地點，它是否可能會推進一些資本配置......謝謝

Shakil, can you answer it?

沙基爾，你能回答嗎？

Yes, sure. No, Kyle, we don't see any effect...

是的，當然。不，凱爾，我們沒有看到任何影響……

Our next question comes from Matt Taylor with Jefferies. Please go ahead.

我們的下一個問題來自 Jefferies 的 Matt Taylor。請繼續。

Hi, thanks for taking the question.Can you hear me okay?

嗨，謝謝你提出這個問題。你能聽到我的聲音嗎？

Yes.

是的。

Great. All right. So I had a couple. I guess I wanted to ask you, women's helped us really done well this year in the first year of launch. I know you're really careful about how you're launching it. I was hoping to get your thoughts on how that franchise could evolve over the next couple of years? I know you probably won't give numeric targets, but if you could or could just plain the size of the opportunity, I think that would be really helpful for investors.

偉大的。好的。所以我有一對。我想我想問你，女裝在推出的第一年幫助我們今年做得很好。我知道你對如何啟動它非常小心。我希望得到你對未來幾年這個特許經營權如何發展的想法？我知道你可能不會給出數字目標，但如果你可以或可以簡單地說明機會的大小，我認為這對投資者來說真的很有幫助。

Matt, I didn't understand the question opportunities of what? Empower...

馬特，我不明白什麼問題的機會？賦能...

Yeah

是的

Okay.

好的。

Spero, I believe that's a question that you should answer regarding who do we sell now and who do we sell in the future?

Spero，我認為您應該回答關於我們現在賣誰以及我們將來賣誰的問題？

Sure, Matt, excellent question. Here's how we look at Empower. When we enter these practices, for example, gynecologists, right, they're not used to marketing. They don't know how to do cash-based procedures. So going to these practices with a solution that's within their scope of practice, such as stress urinary incontinence and mixed urinary incontinence and so forth, is very, very important because at that point, we're able to tell oncologists, look, you already have these patients in your office. They're already coming in. The solutions out there are not great. So we have a solution for these patients that you don't have to go out there and market is your existing patient population. And that alleviates a lot of the anxiety for them purchasing capital equipment. However, we're still an aesthetics company. So on the same platform once we go in, we're able to introduce aesthetics to this group, and that's a big winner for us because it increases our TAM in this respect. As far as the future is concerned, we have a lot of confidence right now because we have a lot of data that we're getting back over the year and thousands of patients being treated. And what we're seeing is consistently across the board, we're seeing that the overactive bladder or mixed urinary incontinence segment, we're getting really, really good results and surprisingly so because it's a very tough segment, as you know. So the ability to disrupt that segment for the future is a big deal. As you know, it's a large market opportunity, and we're investing a lot of time and effort and research into trying to figure out the details and the cost for this. But on the clinical level and the experiences the gynecologists and urogynecologists and family practitioners out there are aesthetic. So we're very, very optimistic for the future. We're taking it very seriously. But at the same time, we're not forgetting that we're still an aesthetics company. So that's important to balance that aspect. Does that answer your question, Matt?

當然，馬特，很好的問題。以下是我們如何看待 Empower。當我們進入這些實踐時，例如，婦科醫生，對，他們不習慣營銷。他們不知道如何進行基於現金的程序。因此，通過他們實踐範圍內的解決方案進行這些實踐，例如壓力性尿失禁和混合性尿失禁等，非常非常重要，因為在這一點上，我們能夠告訴腫瘤科醫生，看，你已經讓這些病人在你的辦公室。他們已經進來了。那裡的解決方案不是很好。因此，我們為這些患者提供了一個解決方案，您不必去那裡，市場就是您現有的患者群體。這減輕了他們購買資本設備的很多焦慮。然而，我們仍然是一家美學公司。因此，一旦我們進入同一個平台，我們就可以將美學介紹給這個群體，這對我們來說是一個大贏家，因為它增加了我們在這方面的 TAM。就未來而言，我們現在有很大的信心，因為我們有很多數據，我們在一年中得到了回報，成千上萬的患者正在接受治療。我們所看到的一直是全面的，我們看到膀胱過度活動症或混合性尿失禁部分，我們得到了非常非常好的結果，而且令人驚訝的是，因為這是一個非常艱難的部分，正如你所知。因此，在未來顛覆這一細分市場的能力是一件大事。如您所知，這是一個巨大的市場機會，我們正在投入大量時間、精力和研究，試圖找出細節和成本。但在臨床水平和婦科醫生、泌尿婦科醫生和家庭醫生的經驗上，它們是審美的。所以我們對未來非常非常樂觀。我們非常認真地對待它。但與此同時，我們並沒有忘記我們仍然是一家美學公司。所以平衡這方面很重要。這能回答你的問題嗎，馬特？

It does. I guess I just had one follow-up on the. So it's interesting to see kind of the pull-through strategy there. Could you frame how much pull-through you're getting? So how much is that resonating with the OB/GYNs to do more, what's the attach rate of getting actual aesthetics beyond the women's how?

確實如此。我想我只是有一個後續行動。所以看到那裡的拉動策略很有趣。你能描述一下你得到了多少拉動嗎？那麼，與 OB/GYN 產生更多共鳴以做更多事情，獲得超越女性的實際美學的附加率是多少？

It's surprising. No, we've engaged with some of the larger institutions or a lot of the research we're doing. And your typical gynecologists, having experienced so many different types of treatments for stress urinary incontinence and mix is not necessarily receptive off the bat, right? They'll say, okay, well, let's just see how this works. But interestingly so, because of the market pressures on these groups with the insurance reimbursement, they're dying to see how they can get cash-based procedures in their office. So the switch to aesthetics is seamless. And I'm talking about this is happening at research institutions and academic institutions. So you can imagine what happened on nonaffiliated groups out there. So that's even the pressure is even higher. So they're demanding that we teaching these things immediately. They're not waiting to see results on the stress urinary incontinence the medical aspects. So yes, we have a long runway. GYNs are 40,000 GYN across the country. So we have a long way to go, but we're very encouraged at this point. Does that answer your question, Matt? Did I understand it correctly?

令人驚訝。不，我們已經與一些較大的機構或我們正在進行的大量研究進行了接觸。而你的典型婦科醫生，經歷了這麼多不同類型的壓力性尿失禁和混合治療，不一定能接受，對吧？他們會說，好吧，好吧，讓我們看看它是如何工作的。但有趣的是，由於這些群體面臨保險報銷的市場壓力，他們急切地想看看如何在他們的辦公室獲得基於現金的程序。所以向美學的轉變是無縫的。我說的是研究機構和學術機構正在發生這種情況。所以你可以想像在非附屬團體上發生了什麼。所以壓力甚至更高。所以他們要求我們立即教授這些東西。他們不等待看到壓力性尿失禁醫學方面的結果。所以，是的，我們有一條很長的跑道。全國有 40,000 名 GYN。所以我們還有很長的路要走，但在這一點上我們感到非常鼓舞。這能回答你的問題嗎，馬特？我理解正確嗎？

Yes.

是的。

That's great.

那太棒了。

Great, I have one follow-up too. I mean, Moshe, I heard you talking about the 20% growth, which is encouraging. I think a lot of investors are so worried about recession. And I was hoping if you could talk about the differences between this recession and the last one and maybe frame, are you seeing any impact yet from recession? And how do you think about the impact it could have on your business based on where you are in your life cycle?

太好了，我也有一個後續。我的意思是，Moshe，我聽說你談到了 20% 的增長，這令人鼓舞。我認為很多投資者都非常擔心經濟衰退。我希望如果你能談談這次衰退與上一次衰退之間的區別，也許還有框架，你是否看到衰退帶來的任何影響？根據您在生命週期中的位置，您如何看待它可能對您的業務產生的影響？

Well, Matt, as we discussed before, we don't see any recession yet, not even a slowdown. But I read an analysis made by your bank that the recession probably will start on the third quarter of 2023. So we're not there yet. It's a full year from today. It depends how -- what kind of recession it will be. If it will be something similar to 2008, I'm sure that we will get help a little bit as well. The fact that we are coming with the new technologies and new market will help us because I believe that if a doctor has 5 different lasers and he is now in the middle of recession, and it will not buy a new laser, but we might buy a new technology like minimal invasive like morpheus like face tight or Neck tight because it can come up with a different procedures to its customer base. And that will help us -- that will help us. overcoming. At the same time, we have -- we have a very strong balance sheet. So we have enough resources to overcome any recession or any slowdown and get even stronger after that because during recession, when you were strong and you have the ability to invest and you don't have to cut down in order to save and cut expenses in marketing people, et cetera, you're getting stronger when the recession will end. And eventually, the recession will end, whether it will start on the third quarter or in the middle of next year. We prepare ourselves, but we don't cut down. We are double down on R&D, we doubled down on marketing. This year, we're spending twice as much direct to consumer and twice as much marketing in the U.S. and in the other world, we continue to establish subsidiaries. Although when you establish a subsidiary on the first year or the second year is cost you more than the profit that you're generating. But we believe that there is no reason why we should stop and we will continue to do it. So therefore, I would say that we don't have a special strategy for the recession time. We will continue business as usual. Even if our revenue and profit will go down a little bit, it will not help us. And we will come stronger after that.

好吧，馬特，正如我們之前討論的那樣，我們還沒有看到任何衰退，甚至沒有放緩。但我閱讀了貴銀行的分析，經濟衰退可能會在 2023 年第三季度開始。所以我們還沒有到那一步。從今天算起整整一年。這取決於如何 - 它將是什麼樣的衰退。如果它與 2008 年類似，我相信我們也會得到一點幫助。我們帶來新技術和新市場的事實將對我們有所幫助，因為我相信如果一個醫生有 5 種不同的激光器，而他現在正處於經濟衰退之中，它不會購買新的激光器，但我們可能會購買一種新技術，如睡眠微創，如面部緊繃或頸部緊繃，因為它可以為其客戶群提供不同的程序。這將幫助我們——這將幫助我們。克服。與此同時，我們擁有非常強大的資產負債表。因此，我們有足夠的資源來克服任何衰退或任何放緩，並且在那之後變得更加強大，因為在衰退期間，當你很強大並且你有能力投資並且你不必為了節省和削減開支而削減開支時營銷人員等等，當經濟衰退結束時，你會變得更強大。最終，經濟衰退將結束，無論是在第三季度還是明年年中開始。我們做好自己的準備，但我們不會削減。我們在研發上加倍下注，我們在營銷上加倍下注。今年，我們在美國的直接消費者支出和營銷支出增加了一倍，在另一個世界，我們繼續建立子公司。雖然當你在第一年或第二年建立子公司時，你的成本超過了你產生的利潤。但我們相信我們沒有理由停下來，我們將繼續這樣做。因此，我會說我們沒有針對衰退時期的特殊策略。我們將照常營業。即使我們的收入和利潤會下降一點，也無濟於事。在那之後我們會變得更強大。

Matt, it's Shak here. Just to add to that real quick. I also think where there's an is saying, right, where there's payoff, there's opportunity, as we've seen historically in previous recessions, a lot of the other, as Moshe mentioned, the strength of our balance sheet. -- a lot of the competition or people that are in the space are playing in the space, they are -- many of them are not fortunate enough to be in a position that we built ourselves to be in. So I do think also that the staying power for our brand is staying power for our technology and the staying power for the consumer awareness that we're creating and will continue to create is a big thing. And I think that will filter out some other people increasing our TAM overall and also our penetration into different markets that we're also looking at and we're currently looking at with R&D.

馬特，這裡是沙克。只是為了快速添加。我還認為哪裡有說，哪裡有回報，哪裡有機會，正如我們在以前的經濟衰退中看到的那樣，正如 Moshe 提到的，還有很多其他的，我們資產負債表的實力。 - 很多競爭者或太空中的人都在太空中玩耍，他們是 - 他們中的許多人沒有幸運地處於我們建立自己的位置。所以我也認為我們品牌的持久力就是我們技術的持久力，而我們正在創造並將繼續創造的消費者意識的持久力是一件大事。而且我認為這將過濾掉其他一些人，以增加我們的 TAM 整體以及我們對不同市場的滲透，我們也在關注我們目前正在研究的研發。

Yes. If you recall, Matt, in the beginning of 2020, when the covid started, -- we were the only company who decided not to fire and not to lay people go because we decided that we don't want to talent to leave the company like other company other company did. And when the market came back in August 2020 -- July, August 2020, we were very strong, and we capture market share and 2021 was the, I would say, as far as growth was more than 70%. And this is only because we kept everything and we continue business as usual. We have the resources, and that's the strategy that we will implement.

是的。如果你還記得，馬特，在 2020 年初，當新冠疫情開始時，我們是唯一一家決定不解僱也不解僱員工的公司，因為我們決定不想讓人才離開公司像其他公司其他公司一樣。當市場在 2020 年 8 月恢復時——2020 年 7 月，2020 年 8 月，我們非常強大，我們佔領了市場份額，我想說，2021 年的增長率超過 70%。這只是因為我們保留了一切，並且我們照常營業。我們有資源，這就是我們將實施的戰略。

Got it. Thanks, Moshe. Thanks, Shak.

知道了。謝謝，摩西。謝謝，沙克。

Thanks, Matt.

謝謝，馬特。

Thanks, Matt.

謝謝，馬特。

Our next question comes from Jeff Johnson with Robert W. Baird. Please go ahead.

我們的下一個問題來自 Jeff Johnson 和 Robert W. Baird。請繼續。

Thank you, good morning guys, I wanted to focus maybe Moshe, if I could, on this emerging focus maybe on wellness. And our checks would suggest I think MORPHEUS8 is really helping to fuel that move into the wellness side. And I don't know if that's because the aestheticians can do this procedure. You don't necessarily have to have direct involvement from the physician, if that's it or what else it is. But maybe help us size that market, the kind of the wellness market. We focus so much on the surgical derm in the plastics market, but maybe help us size the wellness market, maybe where your penetration is right now in that market where it could go over time? And then maybe a couple of follow-up questions on that. Thank you

謝謝大家，早上好，如果可以的話，我想把注意力集中在 Moshe 上，這個新興的焦點可能放在健康上。我們的檢查表明，我認為 MORPHEUS8 確實有助於推動其進入健康方面。我不知道那是不是因為美容師可以做這個程序。你不一定要讓醫生直接參與，如果是這樣或其他什麼。但也許可以幫助我們擴大市場規模，即健康市場。我們非常關注塑料市場的外科皮膚，但也許可以幫助我們確定健康市場的規模，也許您現在在該市場中的滲透率可能會隨著時間的推移而發展？然後可能有幾個關於此的後續問題。謝謝

Well, the wellness market is new to us. But when I said wellness market, we do not mean SPA market. Although, yes, we want to get into the spa market in Europe, not in the United States. -- because (inaudible) is a doctor business. It's not a nurse business and not -- doctor cannot dedicate that in the U.S. and not in many other countries. The only platforms today that enable us to get into the wellness and improve quality of life is the empower because the Empower is not pure aesthetic. It's some aesthetic of course, an aesthetic gynecology, but also treatment, which are unlike whitening SUI, vaginal contraction, ORBA, OAB, et cetera. When we said wellness, we mean medical wellness and not Spa wellness. And we want to do the same, for example, with ENT, snoring, sleep apnea, improving quality of life in the doctor clinic, but only by doctors, not by assisticians and not by paramedical staff. I think that's important to understand. Every platforms that we will develop, gynecology, ENT ophthalmology will include some handpieces that will enable them to do aesthetic medical aesthetic and also to do something special for them. For example, in the ophthalmology, we intend to bring to the market the platforms, which can do -- which can treat the dry eye in addition to periorbital winkles, full-face skim rejuvenation, et cetera. But that -- when we said wellness and when we said, improve our quality of life doesn't mean it's not medical. It's a pure medical.

好吧，健康市場對我們來說是新的。但是當我說健康市場時，我們並不是指SPA市場。雖然，是的，我們想進入歐洲的水療市場，而不是美國。 -- 因為（聽不清）是醫生業務。這不是護士業務，也不是 - 醫生不能在美國而不是在許多其他國家專注於此。今天唯一能讓我們進入健康和提高生活質量的平台是賦權，因為賦權不是純粹的審美。這當然是一些審美，是美容婦科，也是治療，不像美白SUI、陰道收縮、ORBA、OAB等等。當我們說健康時，我們指的是醫療健康而不是水療健康。我們也想做同樣的事情，例如，耳鼻喉科、打鼾、睡眠呼吸暫停、提高醫生診所的生活質量，但僅限於醫生，而不是助理人員，也不是輔助醫療人員。我認為理解這一點很重要。我們將開發的每個平台，婦科，耳鼻喉科，都將包括一些手機，使他們能夠進行醫學美容，並為他們做一些特別的事情。例如，在眼科領域，我們打算將平台推向市場，除了可以治療眶週皺紋、全臉脫脂年輕化等之外，還可以治療乾眼症。但是，當我們說健康時，當我們說提高我們的生活質量時，並不意味著它不是醫學上的。這是純粹的醫學。

Okay. That's helpful. And thanks for clearing that up, and then I guess the follow-up on that is when you talk about potential M&A in the wellness space, you would mean the same thing more on the medical side?

好的。這很有幫助。感謝您澄清這一點，然後我想接下來是當您談論健康領域的潛在併購時，您在醫療方面的意思更多嗎？

Of course. Absolutely.

當然。絕對地。

Yes. And then the last one, just kind of bringing all that together is just Morpheus8, we're hearing more and more about that. I'm almost hearing more about that even than like AccuTite, bodytite, facetite things like that. I mean, are we going into a part of the market here where patients are getting purely a Morpheus8 procedure and not getting the AccuTite or bodytite on top of that kind of I'd say a year ago, our checks would suggest you do an AccuTite or a bodytite and an overlay of Morpheus8, but it almost sounds like more recently, there's been an even a move towards even less invasive in just doing Morpheus8. Is that right? And how does that help the company?

是的。然後最後一個，只是將所有這些結合在一起就是 Morpheus8，我們聽到越來越多的關於它的消息。我幾乎聽到了更多關於這個的消息，甚至比 AccuTite、bodytite、facetite 之類的東西還要多。我的意思是，我們是否要進入這裡的一部分市場，患者正在接受純粹的 Morpheus8 程序，而不是在一年前所說的那種之上獲得 AccuTite 或 bodytite，我們的檢查會建議你做一個 AccuTite或者一個bodytite和一個Morpheus8的覆蓋，但聽起來好像是最近，甚至在做Morpheus8的過程中甚至朝著更不具侵入性的方向發展。那正確嗎？這對公司有什麼幫助？

I mean, Spero, can you answer that? I think you have

我的意思是，斯佩羅，你能回答這個問題嗎？我想你有

Sure. Jeff, so it's important that we differentiate a little bit about our -- how are morpheus8, what it entails, right? So most companies did radio frequency, microdel in the past and be focused on the face -- and we were the first ones to introduce Morpheus to the body. Now the skin is the largest storage in the body. So you can imagine the opportunity that has opened up. With (inaudible)morpheus, we have a body contrary Morpheus handpiece, and that seems to be growing tremendously fast because of the fact that a lot of the plastic surgeons are using it in conjunction with (inaudible) correctly described. As far as the press is concerned, we're spending a lot of money on consumer advertising as well. Lagaria had morpheus. So all these things contribute to the public awareness of it. And it happens to be a very, very effective tool in our momentary. So as far as procedures are concerned, yes, Morpheus is not just a stand-alone, although it's definitely increasing as a stand-alone, but is an adjunct to everything else. We found in our research and our studies that when you combine Morpheus with body tier AccuTite, it certainly increases tightening. So we have the scientific data to back that up as well. Does that answer your question, Jeff?

當然。傑夫，所以重要的是我們要區分一下我們的 - morpheus8 怎麼樣，它意味著什麼，對嗎？因此，大多數公司過去都做過射頻、microdel，並專注於面部——我們是第一批將 Morpheus 引入身體的公司。現在皮膚是體內最大的儲存器。所以你可以想像已經打開的機會。使用（聽不清）morpheus，我們有一個身體相反的 Morpheus 手機，並且由於許多整形外科醫生正在與正確描述的（聽不清）一起使用它，這似乎正在快速增長。就媒體而言，我們也在消費者廣告上投入了大量資金。 Lagaria 有睡眠。因此，所有這些都有助於公眾對它的認識。它恰好是我們當下的一個非常非常有效的工具。所以就程序而言，是的，Morpheus 不僅僅是一個獨立的，雖然它作為一個獨立的肯定在增加，但它是其他一切的附屬物。我們在我們的研究和研究中發現，當您將 Morpheus 與身體層 AccuTite 結合使用時，它肯定會增加收緊。所以我們也有科學數據來支持這一點。這能回答你的問題嗎，傑夫？

It does. And last one, I'm sorry to belabour this, but how -- what percentage may be, Moshe, of your boxes out there in the U.S. or even globally have a Morpheus8 handpiece. And I would assume that's a fairly easy upgrade to add to it if I've got bodytite facetite acutite kind of already on the box to add a morpheus8 handpieces. Is that kind of what's helping drive the revenue here is going back to those installed systems and adding morpheus8...

確實如此。最後一個，我很抱歉要詳細說明這一點，但是，Moshe，您在美國甚至全球的盒子中擁有 Morpheus8 手機的百分比可能是多少。如果我已經在盒子上安裝了 bodytite facetite acutite 來添加 morpheus8 手機，我會認為這是一個相當容易的升級。是那種有助於推動收入增長的因素是回到那些已安裝的系統並添加 morpheus8 ......

I believe we gave the breakdown. We said 88% of our platforms are surgical and ablative. And almost each one of those platforms, which combine facetite, acutite, necktite, (inaudible), bodytite and morpheus. It's always come with the morpheus because most doctors today, when they do facetite or necktite, they combine it with more us, almost every doctor, every doctor that I mean, and I've just been yesterday in the conference in Tel Aviv, Israel, and they talk very loudly about it. They do a lot of morpheus following necktite, facetite acutite treatment of the eyelid as the complementary to facetite. But more than 85% of our platforms in the surgical contain or include the morpheus either body or face.

我相信我們給出了細分。我們說我們 88% 的平台是手術和消融的。幾乎每一個平台都結合了 facetite、acutite、necktite、（聽不清）、bodytite 和 morpheus。它總是伴隨著睡眠，因為今天大多數醫生，當他們做切面或頸切時，他們將它與更多的我們結合在一起，幾乎每個醫生，我的意思是每個醫生，我昨天剛剛參加了以色列特拉維夫的會議，他們談論它的聲音很大。他們在頸紋後做了很多睡眠，作為對面的補充，對眼瞼的刻面刻面治療。但是我們超過 85% 的手術平台包含或包括身體或面部的睡眠。

Rights, thats helpful. Thank you.

權利，那很有幫助。謝謝你。

Our next question comes from Joseph Conway with Needham, Please go ahead.

我們的下一個問題來自 Joseph Conway 和 Needham，請繼續。

This is Joseph on for (inaudible). Just 2 quick ones, I guess. Looking into 2023, I was wondering if we could get it maybe an expectation of new product launches. And then we have envision on the horizon, whether that will be at the end of this year, the beginning of next year. But if you could maybe talk about some of the new products that inmode is expecting to be expecting to release in 2023, that would be great.

這是約瑟夫（聽不清）。我猜只有2個快速的。展望 2023 年，我想知道我們是否可以期待新產品的推出。然後我們已經預見到，是否會在今年年底，明年年初。但是，如果您可以談論一些 inmode 預計將在 2023 年發布的新產品，那就太好了。

Well, I don't know, I'm sure you noticed, but right now, Q4 2022, we have launched what we call MORPHEUS8 body 3D, which is an upgrade for the MORPHEUS8 body. Next year, it will be Envision and the second generation of Evoque, which is the hand-free device for the face...

嗯，我不知道，我相信你注意到了，但是現在，2022 年第四季度，我們推出了我們所說的 MORPHEUS8 body 3D，它是 MORPHEUS8 機身的升級版。明年是Envision和第二代Evoque，也就是人臉免提設備……

Okay. Great. And then I don't think I heard you guys give it, but if it would be possible to give an update on the installed base for platforms in the U.S. and then rest of world. Growth...

好的。偉大的。然後我想我沒有聽到你們提供它，但如果有可能提供有關美國平台安裝基礎的更新，然後是世界其他地區。生長...

Well, we don't give a breakdown of the installed base. But currently, we have about worldwide 15,500 system. And in the U.S., 7,300 system. I would say that you can take the same ratio of our revenue mix, and these are the same as far as the mix between surgical and nonsurgical.

好吧，我們沒有給出安裝基礎的細分。但目前，我們在全球擁有大約 15,500 個系統。在美國，7,300 系統。我想說的是，您可以採用與我們的收入組合相同的比例，就外科手術和非外科手術之間的混合而言，這些比例是相同的。

Okay. Great. Yes, that's very helpful. And then maybe lastly, just looking at Empower, when could we expect maybe published data of Empower being used in one of these overactive bladder conditions?

好的。偉大的。是的，這很有幫助。然後也許最後，看看 Empower，我們什麼時候可以期待發布的 Empower 數據被用於這些膀胱過度活動症之一？

Spero?

斯佩羅？

Yes, sure. We have a couple of publications in press, and we have an ongoing study with overactive bladder. With overactive rate, we have to be very careful to draw conclusions as the nature of it is definitely multifactorial in somatic. So we're going nice and slow and steady. We know on the ground, it's having a huge effect of the urgency frequency symptoms, which are typical of it are decreasing or going away completely in a lot of these patients. So we're encouraged by that. But figuring out how and when as this happens is our focus. In press, we certainly have what we've done so far and part of that is mixed issue by. So hopefully, before the end of the year, we'll have something we can send you.

是的，當然。我們有幾篇出版物正在出版，我們正在進行一項膀胱過度活動症的研究。由於過度活躍率，我們必須非常小心地得出結論，因為它的性質在體細胞中肯定是多因素的。所以我們進展順利，緩慢而穩定。我們實際上知道，它對緊急頻率症狀產生了巨大影響，這些症狀的典型特徵是在許多這些患者中減少或完全消失。所以我們對此感到鼓舞。但弄清楚這種情況發生的方式和時間是我們的重點。在新聞界，我們當然有我們迄今為止所做的事情，其中一部分是混合問題。因此，希望在今年年底之前，我們可以發送給您一些東西。

okay great, thanks very much, congrats on a great quarter

好的很好，非常感謝，恭喜你取得了一個很棒的季度

thanks a lot.

多謝。

This concludes our question-and-answer session. I would like to turn the conference back over to Moshe Mizrahy, Inmode's Chairman and CEO, for closing remarks.

我們的問答環節到此結束。我想將會議轉回 Inmode 董事長兼首席執行官 Moshe Mizrahy 做閉幕詞。