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.
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.
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.
SOURCE InMode Ltd.