InMode Announces Share Repurchase Program of Up to 7.68 Million Shares
InMode (Nasdaq: INMD), a leading global provider of innovative medical technologies, has announced a new share repurchase program of up to 7.68 million ordinary shares. This decision follows the completion of a previous buyback program earlier this year, reflecting the company's ongoing confidence in its long-term outlook.
CEO Moshe Mizrahy emphasized the board's confidence in the company's future, while CFO Yair Malca highlighted InMode's continued profitability and cash generation, even in challenging economic conditions. The company believes there will be no tax implications from the existing program. The repurchases will be funded with available cash and may be commenced, suspended, or discontinued at any time.
InMode (Nasdaq: INMD), un fornitore globale leader di tecnologie mediche innovative, ha annunciato un nuovo programma di riacquisto di azioni fino a 7,68 milioni di azioni ordinarie. Questa decisione segue il completamento di un precedente programma di riacquisto all'inizio di quest'anno, a dimostrazione della continua fiducia dell'azienda nelle sue prospettive a lungo termine.
Il CEO Moshe Mizrahy ha sottolineato la fiducia del consiglio di amministrazione nel futuro dell'azienda, mentre il CFO Yair Malca ha evidenziato la continua redditività e generazione di cassa di InMode, anche in condizioni economiche difficili. L'azienda ritiene che non ci saranno conseguenze fiscali derivanti dal programma esistente. I riacquisti saranno finanziati con liquidità disponibile e potranno essere avviati, sospesi o interrotti in qualsiasi momento.
InMode (Nasdaq: INMD), un proveedor global líder en tecnologías médicas innovadoras, ha anunciado un nuevo programa de recompra de acciones de hasta 7,68 millones de acciones ordinarias. Esta decisión sigue a la finalización de un programa de recompra anterior a principios de este año, lo que refleja la continua confianza de la empresa en sus perspectivas a largo plazo.
El CEO Moshe Mizrahy enfatizó la confianza del consejo en el futuro de la empresa, mientras que el CFO Yair Malca destacó la rentabilidad y generación de efectivo continuas de InMode, incluso en condiciones económicas desafiantes. La empresa cree que no habrá implicaciones fiscales del programa existente. Las recompras se financiarán con dinero en efectivo disponible y pueden comenzar, suspenderse o interrumpirse en cualquier momento.
InMode (Nasdaq: INMD)는 혁신적인 의료 기술의 세계적인 선두 제공업체로서 760만 주식까지의 새로운 자사주 매입 프로그램을 발표했습니다. 이번 결정은 올해 초에 종료된 이전 매입 프로그램 뒤에 이루어졌으며, 이는 장기적인 전망에 대한 회사의 지속적인 신뢰를 반영합니다.
CEO 모셰 미즈라히는 회사의 미래에 대한 이사회의 신뢰를 강조했고, CFO 야이르 말카는 도전적인 경제 환경에서도 InMode의 지속적인 수익성과 현금 생성 능력을 강조했습니다. 회사는 기존 프로그램으로 인해 세금 관련 영향이 없을 것이라고 믿고 있습니다. 매입은 사용 가능한 현금으로 자금을 조달하며, 언제든지 시작, 중단 또는 종료될 수 있습니다.
InMode (Nasdaq: INMD), un fournisseur mondial leader de technologies médicales innovantes, a annoncé un nouveau programme de rachat d'actions d'un montant allant jusqu'à 7,68 millions d'actions ordinaires. Cette décision fait suite à l'achèvement d'un précédent programme de rachat en début d'année, reflétant la confiance continue de l'entreprise dans ses perspectives à long terme.
Le PDG Moshe Mizrahy a souligné la confiance du conseil d'administration dans l'avenir de l'entreprise, tandis que le CFO Yair Malca a mis en avant la rentabilité continue et la génération de liquidités d'InMode, même dans des conditions économiques difficiles. L'entreprise estime qu'il n'y aura aucune implication fiscale liée au programme existant. Les rachats seront financés par des liquidités disponibles et peuvent être commencés, suspendus ou arrêtés à tout moment.
InMode (Nasdaq: INMD), ein führender globaler Anbieter innovativer Medizintechnologien, hat ein neues Aktienrückkaufprogramm von bis zu 7,68 Millionen Stammaktien angekündigt. Diese Entscheidung folgt auf den Abschluss eines vorherigen Rückkaufprogramms zu Beginn dieses Jahres und spiegelt das anhaltende Vertrauen des Unternehmens in seine langfristige Perspektive wider.
CEO Moshe Mizrahy betonte das Vertrauen des Vorstands in die Zukunft des Unternehmens, während CFO Yair Malca die fortwährende Rentabilität und Cash-Generierung von InMode, selbst unter herausfordernden wirtschaftlichen Bedingungen, hervorhob. Das Unternehmen glaubt, dass es keine steuerlichen Auswirkungen aus dem bestehenden Programm geben wird. Die Rückkäufe werden mit verfügbaren Mitteln finanziert und können jederzeit begonnen, ausgesetzt oder beendet werden.
- Authorization of a new share repurchase program for up to 7.68 million ordinary shares
- Continued profitability and cash generation despite challenging economic conditions
- Strong cash position allowing for share buybacks
- No expected tax implications from the repurchase program
- Current low valuation of the company's stock
Insights
InMode's announcement of a 7.68 million share repurchase program signals strong confidence in the company's future prospects and current undervaluation. This move is particularly noteworthy given the recent completion of a previous buyback program, indicating sustained financial health and cash generation ability even in challenging economic conditions.
The repurchase program serves dual purposes: it potentially increases earnings per share by reducing the number of outstanding shares and sends a positive signal to the market about the company's valuation. With no expected tax implications, this decision appears financially prudent. However, investors should consider the trade-off between share repurchases and alternative uses of cash, such as investments in growth or R&D.
While the exact timeline and execution of the buyback aren't specified, the flexibility to commence, suspend, or discontinue at any time provides InMode with strategic adaptability to market conditions.
InMode's share repurchase program reflects a broader trend in the medical technology sector, where companies with strong cash positions are leveraging market volatility to boost shareholder value. This move could potentially increase demand for InMode's stock, as it reduces the float and signals management's belief in the company's intrinsic value exceeding current market price.
The timing of this announcement, amidst challenging macro economic conditions, is particularly telling. It suggests that InMode sees its current valuation as disconnected from its fundamental strength and future growth prospects. This confidence, backed by continued profitability and cash generation, could positively influence investor sentiment and potentially lead to a re-evaluation of the stock by the market.
However, investors should also consider the broader market dynamics and competitive landscape in the innovative medical technologies space when assessing the long-term implications of this buyback program.
YOKNEAM,
"Following the completion of our share buyback program announced earlier this year, 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 Chief Executive Officer.
"InMode continues to be profitable and generate cash, even during challenging macro economic conditions," noted Yair Malca, InMode's Chief Financial Officer. "Based on discussions with tax advisors, the company believes that there will be no tax implications as a result of the existing program. Our strong cash position and the current low valuation triggered the decision of the board to authorize another buyback plan shortly after the previous one ended."
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 radiofrequency ("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 and its wide array of medical technologies, 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. 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, strategic 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. Consequently, 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 13, 2024, 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
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