Shares in Oddity Tech (ODD) surged over 16% at Friday's market open after the company announced a $150 million stock buyback plan and raised its Q2 forecasts.

The buyback program, approved by the board, expires on June 30, 2027, or once funds are fully used.

Oddity now expects Q2 adjusted EPS to be 69 cents, up from 56 cents, and net revenue to be about $189 million, previously estimated at $185-$189 million. Adjusted EBITDA is projected at $60 million, up from $53-$56 million, with a gross margin around 71%.