In a letter dated July 16, 2026, significant shareholder Steel Partners Holdings L.P. publicly criticized InMode's Board of Directors for what it termed "persistent and egregious governance failures." The activist investor specifically condemned the company's recent decision to release preliminary Q2 revenue figures without profitability metrics and to cancel its upcoming earnings conference call and all investor meetings.
This move by Steel Partners escalates the ongoing battle for control of the company. InMode is currently considering a going-private offer from its own CEO, which was followed by a competing, higher bid from Steel Partners. Steel Partners is demanding that the board provide shareholders with complete financial information and postpone the Annual General Meeting, scheduled for July 30, until shareholders are fully informed. The firm also questioned the independence of the board's special committee evaluating the offers.