Mach7 Technologies (ASX:M7T) will launch an on-market share buyback program with a maximum value of AU$5 million, expected to start on Mar. 3 for up to 12 months, according to a Thursday filing with the Australian bourse.
Shares bought back under the program will be canceled upon acquisition, resulting in a reduction in the number of issued shares, the filing said.
The company reaffirmed its fiscal 2025 guidance for a 15% to 25% growth in contracted annual recurring revenue and revenue growth, per the filing.
Shares rose past 10% in midday trade Thursday.
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