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Published: 2021-02-10 07:15:23 ET

EX-99.1 2 exhibit_99-1.htm EXHIBIT 99.1

Exhibit 99.1

InMode Reports Record Fourth Quarter and Full Year 2020 Financial Results;

Quarterly Revenues of $75.2 Million Represent 60% Year over Year Growth

YOKNEAM, Israel, February 10, 2021 /PRNewswire/--InMode Ltd. (Nasdaq: INMD) (“InMode”), a leading global provider of innovative medical technologies, today announced consolidated financial results for its fourth quarter and full year ended December 31, 2020.

Fourth Quarter 2020 Highlights:

•	Record quarterly revenues of $75.2 million, an increase of 60% compared to the fourth quarter of 2019; 65% of quarterly revenues derived from our proprietary surgical technology platforms engaged in minimally invasive and subdermal ablative treatments, 28% from our recently introduced hands-free platforms and 7% from our traditional laser and non-invasive RF platforms
•	Record GAAP net income of $36.1 million, compared to $19.0 million in the fourth quarter of 2019; *non-GAAP net income of $39.9 million, compared to $19.3 million in the fourth quarter of 2019
•	Record GAAP diluted earnings per share of $0.85, compared to $0.46 in the fourth quarter of 2019; *non-GAAP diluted earnings per share of $0.94, compared to $0.46 in the fourth quarter of 2019
•	Total cash position of $260.5 million as of December 31, 2020, including cash and cash equivalents, marketable securities and short-term bank deposits

Full Year 2020 Highlights:

•	Record full year revenues of $206.1 million, an increase of 32% as compared to 2019; 62% of revenues derived from our proprietary surgical technology platforms engaged in minimally invasive and subdermal ablative treatments, 32% from our recently introduced hands-free platforms and 6% from our traditional laser and non-invasive RF platforms
•	Record GAAP net income of $75.0 million, compared to $61.1 million in 2019; *non-GAAP net income of $89.1 million, compared to $62.4 million in 2019
•	Record GAAP diluted earnings per share of $1.78, compared to $1.60 in 2019; *non-GAAP diluted earnings per share of $2.11, compared to $1.63 in 2019
•	76% increase in international (non-U.S.) revenues as compared to 2019

U.S. GAAP Results (U.S. dollars in thousands, except for per share data)
		Q4 2020			Q4 2019		FY 2020			FY 2019
Revenues	$	75,187		$	47,002		$	206,107		$	156,361
Gross Margins		86	%		87	%		85	%		87	%
Net Income Attributable to InMode Ltd.	$	36,114		$	19,038		$	75,030		$	61,145
Earnings per Diluted Share	$	0.85		$	0.46		$	1.78		$	1.60

*Non-GAAP Results (U.S. dollars in thousands, except for per share data)
		Q4 2020			Q4 2019		FY 2020			FY 2019
Gross Margins		86	%		87	%		85	%		87	%
Net Income Attributable to InMode Ltd.	$	39,850		$	19,311		$	89,143		$	62,390
Earnings per Diluted Share	$	0.94		$	0.46		$	2.11		$	1.63

*Please refer to “Use of Non-GAAP Financial Measures” below for important information about non-GAAP financial measures. A reconciliation between U.S. GAAP and non-GAAP Statement of Income is provided following the financial statements that are included in this release. Non-GAAP results exclude share-based compensation and related tax adjustments.

Management Comments

“We reported outstanding 2020 results with record fourth quarter and full year financial performance, despite the disruptions caused by the COVID-19 pandemic. We took bold strategic steps this year to solidify our leading market position, expanding our sales & marketing efforts and increasing our headcount with the industry’s top professionals,” commented Moshe Mizrahy, InMode’s CEO.

“Our innovative hands-free and minimally invasive technology gained significant traction this year, driven by new product launches such as Evolve, Evoke and Morpheus8,” commented Dr. Michael Kreindel, InMode’s CTO and co-founder. “These unique platforms offer effective full-body and facial aesthetic solutions for patients who want to avoid hospitalization and invasive procedures, which are required for traditional plastic surgery. We are being recognized across the market as a true innovator and plan to introduce our electro-surgical technologies into new medical categories such as gynecology and ophthalmology in 2021.”

“We are extremely pleased with the progress achieved in 2020. The focus our sales and marketing team maintained throughout one of the most difficult times in history is a testament to the quality and dedication of our team,” commented Shakil Lakhani, President of North America. “Through the investments we made this year, we developed a successful formula to create demand for our new technologies, engage physicians, and convert growing interest into sales.”

Fourth Quarter 2020 Financial Results

“Total revenues for the fourth quarter of 2020 were $75.2 million, an increase of 60% as compared to the fourth quarter of 2019. The increase in revenues was primarily attributable to the expansion of our direct sales organization in the United States and the continued momentum of our hands-free technology, as well as the recently introduced Morpheus8 Body fractional technology. Moreover, we continued to gain traction in international markets, mainly in Asia-Pacific regions, with international revenues growing 102% year-over-year,” commented Yair Malca, CFO.

GAAP gross margin for the fourth quarter of 2020 was 86%, compared to a gross margin of 87% in the fourth quarter of 2019. *Non-GAAP gross margin for the fourth quarter of 2020 was 86%, compared to a gross margin of 87% in the fourth quarter of 2019. This decrease was primarily attributable to the increase of sales in international markets, mainly in countries where we operate through distributors.

GAAP operating margin for the fourth quarter of 2020 was 47%, compared to 38% in the fourth quarter of 2019. *Non-GAAP operating margin for the fourth quarter of 2020 was 51%, compared to 39% in the fourth quarter of 2019. This increase in operating margin was primarily attributable to economies of scale derived from the Company’s accelerated growth, as well as a decrease in marketing activities in the United States such as event and conference participation, due to restrictions caused by the COVID-19 pandemic.

InMode reported GAAP net income attributable to InMode Ltd of $36.1 million, or $0.85 per diluted share, in the fourth quarter of 2020 compared to $19.0 million, or $0.46 per diluted share, in the fourth quarter of 2019. On a *non-GAAP basis, InMode reported net income attributable to InMode Ltd of $39.9 million, or $0.94 per diluted share, in the fourth quarter of 2020, compared to $19.3 million, or $0.46 per diluted share, in the fourth quarter of 2019.

Full Year 2020 Financial Results

Total revenues for 2020 were $206.1 million, an increase of 32% as compared to 2019. This increase was primarily attributable to strong demand for our hands-free platforms, which contributed $65.3 million to total 2020 revenues. In addition, InMode gained traction in international markets, with international revenues growing 76% year-over-year.

GAAP gross margin for 2020 was 85%, compared to a gross margin of 87% in 2019. *Non-GAAP gross margin for 2020 was 85%, compared to a gross margin of 87% in 2019. This decrease was primarily attributable to the increase of sales in international markets, mainly in countries where we operate through distributors.

GAAP operating margin for 2020 was 35%, compared to the operating margin of 38% in 2019. *Non-GAAP operating margin for 2020 was 42%, compared to the operating margin of 39% in the full year of 2019. This increase in *non-GAAP operating margin was primarily attributable to decreased marketing activities in the United States such as event and conference participation, due to restrictions caused by the COVID-19 pandemic.

InMode reported GAAP net income attributable to InMode Ltd. of $75.0 million, or $1.78 per diluted share, in 2020. This is compared with GAAP net income attributable to InMode Ltd of $61.1 million, or $1.60 per diluted share, in 2019. On a *non-GAAP basis, InMode reported net income attributable to InMode Ltd. of $89.1 million, or $2.11 per diluted share, in the full year of 2020, compared to net income attributable to InMode Ltd. of $62.4 million, or $1.63 per diluted share, in the full year of 2019.

As of December 31, 2020, InMode had cash and cash equivalents, marketable securities and short-term bank deposits of $260.5 million.

2021 Financial Outlook

Management provided an outlook for the full year of 2021, the period ending December 31, 2021. Based on current estimates, management expects:

●	Revenues between $250 million to $260 million

●	*Non-GAAP gross margin between 84% to 86%

●	*Non-GAAP income from operations between $100 million to $104 million

●	*Non-GAAP earnings per diluted share between $2.34 to $2.45

This outlook is not a guarantee of future performance and stockholders should not rely on such forward-looking statements. See “Forward-Looking Statements” for additional information.

Use of Non-GAAP Financial Measures

In addition to InMode’s operating results presented in accordance with GAAP, this release includes certain non-GAAP financial measures including non-GAAP net income, non-GAAP diluted earnings per share and non-GAAP operating margin. Because these measures are used in InMode’s internal analysis of financial and operating performance, management believes that they provide greater transparency to investors of management's view of InMode’s economic performance. Management also believes the presentation of these measures, when analyzed in conjunction with InMode’s GAAP operating results, allows investors to more effectively evaluate and compare the performance of InMode to that of its peers, although InMode’s presentation of its non-GAAP measures may not be comparable to other similarly titled measures of other companies. Schedules reconciling each of these non-GAAP financial measures are provided as a supplement to this release.

Conference Call Information

Mr. Moshe Mizrahy, Chairman and Chief Executive Officer, Dr. Michael Kreindel, co-founder and Chief Technology Officer, Mr. Yair Malca, Chief Financial Officer, Mr. Shakil Lakhani, President of North America, and Dr. Spero Theodorou, Chief Medical Officer, will host a conference call today, February 10, 2021, at 8:30 a.m. Eastern Time to discuss the fourth quarter and full year 2020 financial results.

The Company encourages participants to pre-register for the conference call using the following link: https://dpregister.com/sreg/10151158/e064a3345e. Callers will receive a unique dial-in upon registration, which enables immediate access to 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 Dial-in Number: 1-833-316-0562

Israel Toll- Free Dial-in Number: 1-80-921-2373

International Dial-in Number: 1-412-317-5736

At:

8:30 a.m. Eastern Time

5:30 a.m. Pacific Time

3:30 p.m. Israel 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 10, 2021 at 12 p.m. Eastern Time to February 24, 2021 at 11:59 p.m. Eastern Time. To access the replay, please dial one of the following numbers:

Replay Dial-in U.S TOLL-FREE: 1-877-344-7529

Replay Dial-in Canada TOLL-FREE: 855-669-9658

Replay Dial-in TOLL/INTERNATIONAL: 1-412-317-0088

Replay Pin Number: 10151158

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

About InMode

InMode is a leading global provider of innovative medical technologies. InMode develops, manufactures, and markets devices harnessing novel radio-frequency (“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, please 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 the future performance described above under the heading titled “2021 Financial Outlook.” 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, strategy 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, including with respect to the impact of the COVID-19 global outbreak. As a result, 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 18, 2020, risk factors relating to the COVID-19 global outbreak 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 speak only as of the date of this press release.

Company Contact:

Yair Malca

Chief Financial Officer

Phone: (949) 305-0108

Email: Yair.Malca@inmodemd.com

Investor Relations Contact:

Miri Segal

MS-IR LLC

Phone: (917) 607-8654

Email: ir@inmodemd.com

INMODE LTD.

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(U.S. dollars in thousands, except for per share data)

(Unaudited)

	Three months ended December 31,				Year Ended December 31,
	2020		2019		2020		2019
REVENUES		75,187		47,002		206,107		156,361
COST OF REVENUES		10,575		6,045		30,849		20,238
GROSS PROFIT		64,612		40,957		175,258		136,123
OPERATING EXPENSES:
Research and development		2,260		1,587		9,467		5,699
Sales and marketing		25,239		20,127		86,532		66,848
General and administrative		1,673		1,265		6,418		3,958
TOTAL OPERATING EXPENSES		29,172		22,979		102,417		76,505
INCOME FROM OPERATIONS		35,440		17,978		72,841		59,618
Finance income, net		1,228		1,159		3,291		2,423
INCOME BEFORE TAXES		36,668		19,137		76,132		62,041
INCOME TAXES		598		165		1,107		883
NET INCOME		36,070		18,972		75,025		61,158
Add: Loss (net income) attributable to non-controlling interests		44		66		5		(13	)
NET INCOME ATTRIBUTABLE TO INMODE LTD.		36,114		19,038		75,030		61,145

NET INCOME PER SHARE:
Basic		0.96		0.58		2.08		2.09
Diluted		0.85		0.46		1.78		1.60
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING USED IN COMPUTATION OF NET INCOME PER SHARE (in thousands)
Basic		37,593		32,781		36,057		29,232
Diluted		42,389		41,639		42,092		38,059

INMODE LTD.

CONDENSED CONSOLIDATED BALANCE SHEETS

(U.S. dollars in thousands, except for per share data)

(Unaudited)

	December 31, 2020		December 31, 2019
Assets
CURRENT ASSETS:
Cash and cash equivalents		68,938		44,727
Marketable securities (amortized cost of $141,544 and $119,983, respectively)		142,007		120,144
Short-term bank deposits		49,589		28,491
Accounts receivable, net of allowance for doubtful accounts of $672 and $432, respectively		10,499		6,628
Other receivables		3,575		3,810
Inventories		14,983		9,408
TOTAL CURRENT ASSETS		289,591		213,208
NON-CURRENT ASSETS:
Accounts receivable		477		374
Other receivables		2,894		-
Deferred income taxes, net		64		1,899
Operating lease right-of-use assets		1,153		1,369
Property and equipment, net		982		935
Other investments		600		600
TOTAL NON-CURRENT ASSETS		6,170		5,177
TOTAL ASSETS		295,761		218,385

Liabilities and shareholders’ equity
CURRENT LIABILITIES:
Accounts payable		6,410		3,702
Contract liabilities		11,900		15,587
Other liabilities		16,720		13,205
TOTAL CURRENT LIABILITIES		35,030		32,494
NON-CURRENT LIABILITIES:
Contract liabilities		1,988		3,813
Other liabilities		2,910		1,494
Operating lease liabilities		358		744
Deferred income taxes, net		-		37
TOTAL NON-CURRENT LIABILITIES		5,256		6,088
TOTAL LIABILITIES		40,286		38,582

TOTAL SHAREHOLDERS’ EQUITY		255,475		179,803
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY		295,761		218,385

INMODE LTD.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(U.S. dollars in thousands, except for per share data)

(Unaudited)

	Three months ended December 31,						Year Ended December 31,
	2020			2019			2020			2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income		36,070			18,972			75,025			61,158
Adjustments required to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		109			88			416			302
Share-based compensation expenses		3,231			358			12,845			1,557
Allowance for doubtful accounts		(24	)		(55	)		442			78
Loss on marketable securities, net		3			3			5			3
Finance income, net		(614	)		(440	)		(625	)		(835	)
Deferred income taxes, net		556			(383	)		1,729			(594	)
Changes in operating assets and liabilities:
Decrease (increase) in accounts receivable		5,667			1,046			(4,416	)		449
Increase in other receivables		(1,687	)		(666	)		(2,647	)		(1,316	)
Increase in inventories		(112	)		(913	)		(5,575	)		(2,445	)
Increase (decrease) in accounts payable		2,127			(667	)		2,708			92
Increase in other liabilities		113			1,676			4,830			4,094
Increase (decrease) in contract liabilities		(3,852	)		8,400			(5,512	)		9,663
Decrease in accrued contingencies		-			-			-			(10,000	)
Net cash provided by operating activities		41,587			27,419			79,225			62,206
CASH FLOWS FROM INVESTING ACTIVITIES:
Investment in short-term deposit		(6,000	)		(13,500	)		(55,699	)		(47,810	)
Proceeds from short-term deposit		-			11,000			34,810			29,500
Purchase of fixed assets		(35	)		(175	)		(463	)		(693	)
Other investments		-			(600	)		-			(600	)
Purchase of marketable securities		(50,295	)		(82,802	)		(169,689	)		(165,423	)
Proceeds from sale of marketable securities		29,950			54,471			147,736			72,574
Net cash (used in) investing activities		(26,380	)		(31,606	)		(43,305	)		(112,452	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from initial public offering of ordinary shares, net of offering costs		-			-			-			69,784
Repurchase of ordinary shares		(17,218	)		-			(17,218	)		-
Exercise of options		1,528			74			4,776			389
Net cash provided by (used in) financing activities		(15,690	)		74			(12,442	)		70,173
EFFECT OF EXCHANGE RATE CHANGES ON CASH		586			135			733			79
NET INCREASE IN CASH AND CASH EQUIVALENTS		103			(3,978	)		24,211			20,006

CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD		68,835			48,705			44,727			24,721
CASH AND CASH EQUIVALENTS AT END OF PERIOD		68,938			44,727			68,938			44,727

INMODE LTD.

CONDENSED CONSOLIDATED FINANCIAL HIGHLIGHTS

(U.S. dollars in thousands, except for per share data)

(Unaudited)

	Three months ended December 31,						Year Ended December 31,
	2020			2019			2020			2019
Revenues by Geography:
United States		53,725			36,386			149,488			124,199
International		21,462			10,616			56,619			32,162
Total Net Revenue		75,187			47,002			206,107			156,361
U.S. as percentage of total revenue		71	%		77	%		73	%		79	%

INMODE LTD.

RECONCILIATION OF GAAP CONDENSED CONSOLIDATED STATEMENTS OF

INCOME TO NON-GAAP CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(U.S. dollars in thousands, except for per share data)

(Unaudited)

	Three months ended December 31, 2020							Three months ended December 31, 2019
	GAAP		Share Based Compensation			Non-GAAP		GAAP		Share Based Compensation			Non-GAAP
REVENUES		75,187		-			75,187		47,002		-			47,002
COST OF REVENUES		10,575		(140	)		10,435		6,045		(32	)		6,013
GROSS PROFIT		64,612		140			64,752		40,957		32			40,989
OPERATING EXPENSES:
Research and development		2,260		(132	)		2,128		1,587		(13	)		1,574
Sales and marketing		25,239		(2,829	)		22,410		20,127		(271	)		19,856
General and administrative		1,673		(130	)		1,543		1,265		(42	)		1,223
TOTAL OPERATING EXPENSES		29,172		(3,091	)		26,081		22,979		(326	)		22,653
INCOME FROM OPERATIONS		35,440		3,231			38,671		17,978		358			18,336
Finance income, net		1,228		-			1,228		1,159		-			1,159
INCOME BEFORE TAXES		36,668		3,231			39,899		19,137		358			19,495
INCOME TAXES (TAX BENEFIT)		598		(505	)		93		165		85			250
NET INCOME		36,070		3,736			39,806		18,972		273			19,245
Add: Loss attributable to non-controlling interests		44		-			44		66		-			66
NET INCOME ATTRIBUTABLE TO INMODE LTD.		36,114		3,736			39,850		19,038		273			19,311

NET INCOME PER SHARE:
Basic		0.96					1.06		0.58					0.59
Diluted		0.85					0.94		0.46					0.46
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING USED IN COMPUTATION OF NET INCOME PER SHARE (in thousands)
Basic		37,593					37,593		32,781					32,781
Diluted		42,389					42,490		41,639					41,657

INMODE LTD.

RECONCILIATION OF GAAP CONDENSED CONSOLIDATED STATEMENTS OF

INCOME TO NON-GAAP CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(U.S. dollars in thousands, except for per share data)

(Unaudited)

	Year Ended December 31, 2020								Year Ended December 31, 2019
	GAAP		Share Based Compensation			Non-GAAP			GAAP			Share Based Compensation			Non-GAAP
REVENUES		206,107		-			206,107			156,361			-			156,361
COST OF REVENUES		30,849		(520	)		30,329			20,238			(94	)		20,144
GROSS PROFIT		175,258		520			175,778			136,123			94			136,217
OPERATING EXPENSES:
Research and development		9,467		(2,264	)		7,203			5,699			(179	)		5,520
Sales and marketing		86,532		(9,398	)		77,134			66,848			(1,158	)		65,690
General and administrative		6,418		(663	)		5,755			3,958			(126	)		3,832
TOTAL OPERATING EXPENSES		102,417		(12,325	)		90,092			76,505			(1,463	)		75,042
INCOME FROM OPERATIONS		72,841		12,845			85,686			59,618			1,557			61,175
Finance income, net		3,291		-			3,291			2,423			-			2,423
INCOME BEFORE TAXES		76,132		12,845			88,977			62,041			1,557			63,598
INCOME TAXES (TAX BENEFIT)		1,107		(1,268	)		(161	)		883			312			1,195
NET INCOME		75,025		14,113			89,138			61,158			1,245			62,403
Add: Loss (net income) attributable to non-controlling interests		5		-			5			(13	)		-			(13	)
NET INCOME ATTRIBUTABLE TO INMODE LTD.		75,030		14,113			89,143			61,145			1,245			62,390

NET INCOME PER SHARE:
Basic		2.08					2.47			2.09						2.13
Diluted		1.78					2.11			1.60						1.63
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING USED IN COMPUTATION OF NET INCOME PER SHARE (in thousands)
Basic		36,057					36,057			29,232						29,232
Diluted		42,092					42,201			38,059						38,085

Enhanced Investments, Inc.
329 South Oyster Bay Road #2085
Plainview, NY 11803
team@eninvs.com

Important disclosures

Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
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All the strategies assume investments in equity invstrumenta only and are more relevant for "agressive investment profile". Eastern European flagship strategy assumes using up to 20% leverage of total portfolio. GlobalCommodities and US Growth strategy currently assume no leverage.
Results for the Enhanced Investments strategies as compared to the performance of Illustrative Benchmarks is for informational purposes only. Our investment program does not mirror that of the Illustrative Benchmarks and the volatility may be materially different from the volatility of Illustrative Benchmarks. Reference or comparison to an Illustrative Benchmark does not imply that strategies of Enhanced Investments will be constructed in the same way as the Illustrative Benchmark or achieve returns, volatility, or other results similar to those of the Illustrative Benchmark. The S&P 500 is an unmanaged market capitalization-weighted index of 500 common stocks chosen for market size, liquidity, and industry group representation to represent U.S. equity performance.
Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.