InMode Ltd. (INMD) Announces 7.68M Share Buyback

InMode Ltd. (Nasdaq: INMD), a leading global provider of innovative medical technologies, today announced that its Board of Directors has approved a share repurchase program of up to 7.68 million ordinary shares.

"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.

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