InMode (INMD) Cash Flow: Operating & Free Cash Flow

InMode Cash Flow Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

Scale:

Scroll to see more

Cash flow statement showing operating, investing, and financing activities for InMode Ltd. (INMD) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Operating Activities
Net Income	93.83	181.28	197.92	161.52	165.07	75.03	61.16	22.37	8.82
Depreciation & Amortization	0.70	0.73	0.62	0.68	0.52	0.42	0.30	0.18	0.20
Deferred Income Tax	2.93	-55.18	-0.18	0.08	-0.77	1.73	-0.59	-0.59	-0.58
Stock Based Compensation	11.13	16.57	23.60	24.45	11.96	12.85	1.56	1.95	2.44
Change in Working Capital	-24.30	-7.07	-41.44	-4.47	-3.81	-10.61	0.54	4.79	3.52
Change in Accounts Receivable	-11.13	0.25	-18.31	-10.42	-10.54	-4.42	0.45	-0.57	-2.70
Change in Inventory	-14.50	-14.45	-5.20	-18.87	-6.04	-5.58	-2.45	-1.89	-2.34
Change in Accounts Payable	4.13	-0.18	-2.28	7.46	2.37	2.71	0.09	0.54	1.51
Change in Other Working Capital	-1.52	7.32	-15.66	17.36	10.41	-3.33	2.44	6.71	7.05
Other Operating Activities	3.90	-3.66	-3.69	-0.69	1.91	-0.18	-0.75	8.19	0.21
Net Cash from Operating Activities	85.26	132.66	176.83	181.58	174.89	79.23	62.21	36.89	14.61
Investing Activities
Capital Expenditures	-0.97	-0.67	-0.71	-1.58	-0.94	-0.46	-0.69	-0.38	-0.19
Acquisitions	0.00	0.00	0.00	20.61	3.91	20.89	18.91	0.00	1.73
Purchases of Investments	-313.51	-504.41	-478.68	-262.38	-346.92	-225.39	-213.83	-48.35	-5.70
Sales/Maturities of Investments	500.52	667.28	343.32	154.48	187.76	182.55	102.07	18.99	0.20
Other Investing Activities	0.00	0.00	0.00	-20.61	-3.91	-20.89	-18.91	-29.36	-5.50
Net Cash from Investing Activities	186.03	162.21	-136.06	-109.47	-160.11	-43.31	-112.45	-29.74	-5.68
Financing Activities
Common Stock Issued	1.39	0.00	0.00	0.00	0.00	0.00	69.78	0.19	0.06
Common Stock Repurchased	-127.44	-285.39	0.00	-42.64	-35.37	-17.22	0.00	0.00	0.00
Other Financing Activities	0.00	2.61	5.50	1.55	20.34	4.78	0.39	0.19	1.79
Net Cash from Financing Activities	-126.06	-282.77	5.50	-41.09	-15.02	-12.44	70.17	0.19	1.79
Summary
Effect of Forex Changes on Cash	1.98	-1.18	0.61	-1.62	-0.56	0.73	0.08	-0.21	0.19
Net Change in Cash	147.21	10.92	46.87	29.40	-0.80	24.21	20.01	7.13	10.90
Cash at Beginning of Period	155.33	144.41	97.54	68.14	68.94	44.73	24.72	17.59	6.70
Cash at End of Period	302.54	155.33	144.41	97.54	68.14	68.94	44.73	24.72	17.59
Free Cash Flow	84.29	132.00	176.12	180.00	173.95	78.76	61.51	36.51	14.42
Supplemental Disclosures
Income Taxes Paid	14.87	17.69	31.61	25.84	1.66	-	-	-	-

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About InMode Cash Flow

What is InMode's free cash flow?

InMode generated free cash flow of $84.28M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of $85.26M minus $972.00K of capital expenditures. That was down 36.1% from $132.00M a year earlier. Free cash flow equaled 22.7% of revenue.

How much does InMode spend on capital expenditures?

InMode spent $972.00K on capital expenditures in fiscal 2025, compared with $669.00K a year earlier. That equals 1.1% of operating cash flow.

Does InMode pay dividends or buy back shares?

Yes. In fiscal 2025 InMode returned $127.44M in share buybacks to shareholders, according to its cash flow statement.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition