BEVERLY, Massachusetts—Inogen, Inc., a medical technology company offering respiratory products for use in the homecare setting, announced that its board of directors has authorized a share repurchase program for up to $30 million of its outstanding common stock.
“This authorization reflects our confidence in Inogen’s strategy, progress towards profitability goals and long-term growth trajectory,” said Kevin Smith, president and CEO. “With a strong, debt-free balance sheet, we view this program as providing additional flexibility to deploy capital to support continued investment in innovation and portfolio expansion while enhancing shareholder value.”
The repurchase program will be financed through cash flow and existing cash reserves and the company said this is not expected to affect Inogen’s capacity to pursue further growth initiatives. Authorization for the program will expire upon either Dec. 31, 2027, or once the maximum authorized dollar amount has been utilized, whichever occurs first. The company said it is under no obligation to purchase a specific number of shares, and the program may be suspended or terminated at any time.