Several high profile IPOs have underperformed this year. However, InMode Ltd (NASDAQ: INMD) is an exception. This stock has been on an upward trajectory since its IPO in August when it debuted at $14. Since that time, the stock has gained by over 200% as of Monday’s close. The company has in the course of its trading since IPO experienced several positive revisions by analysts, which is indicative of positive sentiment around the stock.

The company’s growth is anchored on strong earnings in Q3. In this quarter, the company recorded a revenue increase of $40 million. This represents a 57% growth as compared to a similar period in Q3 of 2018. The company’s net income also grew exponentially in the quarter. It stood at $16.2 million, representing year-over-year growth of 87%. On top of that, the company’s EPS rose by 62% to stand at $0.42. When announcing the results, the company noted an 88% increase in international revenues, compared to a similar quarter in 2018. These sales were mainly driven by growth in sales in Europe and Asia.

From the stock’s chart below, the company has shown several indications of positive growth in the near-term. It first did a continuation gap that was followed by a price increase past the $50 mark. At the moment, the stock is in another bull wave after a correction to around 40. In yesterday’s session, the company gained by 14.71% and with high volumes. 1.88 million shares of the company changed hands in the day.

About InMode

InMode Ltd is a designer, developer, and seller of minimally-invasive medical products. The company also develops and sells non-invasive medical devices for aesthetic purposes. Some of the aesthetic devices it develops include those for facial rejuvenation, cellulite removal, skin texture among many others. The company directly sells its products globally especially in Canada, the U.K, Australia, and Spain. It has its headquarters in Yokneam, Israel.