InMode Announces Share Repurchase Program of Up to 1 Million Shares

Rhea-AI Summary

InMode Ltd. (Nasdaq: INMD) announced a new share repurchase program, approving the buyback of up to 1 million ordinary shares. This decision follows the successful completion of a previous buyback in September 2020, reflecting the company's confidence in its long-term outlook. The program, funded by available cash, aims to enhance shareholder value and follows a trend of fiscally responsible investments. The board emphasized strong cash flow and a robust balance sheet as key factors justifying the buyback.

Positive

• Share repurchase program of up to 1 million shares enhances shareholder value.
• Demonstrates confidence in long-term outlook following previous successful buyback.
• Strong balance sheet and positive cash flow support the buyback decision.

Negative

• None.

YOKNEAM, Israel, March 10, 2022 /PRNewswire/ -- InMode Ltd. (Nasdaq: INMD) ("InMode"), a leading global provider of innovative medical technologies, today announced that its Board of Directors has approved a share repurchase program of up to 1 million ordinary shares on the open market or otherwise.

"Following the completion of our successful share buyback announced in September 2020, the board's authorization to enact this new share repurchase program demonstrates our ongoing confidence in the long-term outlook of the company," commented Moshe Mizrahy, InMode's Chairman and Chief Executive Officer.

"InMode continues to focus on making fiscally responsible investments while delivering value to shareholders. Our strong balance sheet, positive cashflow and continued growth triggered the decision of the board to authorize another buyback plan as soon as the previous one ended," noted Yair Malca, InMode's Chief Financial Officer.

The Company's ordinary share repurchases, if any, will be funded with available cash. Share repurchases may be commenced, suspended or discontinued at any time.

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. Actual outcomes may differ materially from what is expressed in such forward-looking statements. 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. 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 10, 2022, 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 pertain 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

 

 

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SOURCE InMode Ltd.

FAQ

What is the recent share repurchase program announced by InMode (INMD)?

InMode announced a share repurchase program of up to 1 million ordinary shares, approved by its Board of Directors.

When was the last share buyback completed by InMode (INMD)?

The last share buyback was completed in September 2020.

What are the expected effects of the share buyback on InMode's stock price (INMD)?

The share buyback is expected to enhance shareholder value, potentially positively impacting the stock price.

How will InMode fund its share repurchase program (INMD)?

The share repurchase program will be funded with InMode's available cash.