eGain Announces Extension to Stock Repurchase Program
eGain announced an extension of its stock repurchase program until November 14, 2025. The company has already repurchased approximately $27.6 million of shares, with $12.4 million remaining available for repurchase. The program allows discretionary purchases through open market or private transactions, including potential Rule 10b5-1 plans. CEO Ashu Roy emphasized the company's belief in its shares being undervalued and its strong position in the AI knowledge market. The repurchase program will be funded using existing cash or future cash flows and can be modified or suspended at any time.
eGain ha annunciato un'estensione del suo programma di riacquisto di azioni fino al 14 novembre 2025. L'azienda ha già riacquistato circa 27,6 milioni di dollari di azioni, con 12,4 milioni di dollari ancora disponibili per il riacquisto. Il programma consente acquisti discrezionali tramite mercato aperto o transazioni private, inclusi potenziali piani ai sensi della Regola 10b5-1. Il CEO Ashu Roy ha sottolineato la convinzione dell'azienda che le proprie azioni siano sottovalutate e il suo forte posizionamento nel mercato della conoscenza dell'IA. Il programma di riacquisto sarà finanziato utilizzando liquidità esistente o flussi di cassa futuri e può essere modificato o sospeso in qualsiasi momento.
eGain anunció una extensión de su programa de recompra de acciones hasta el 14 de noviembre de 2025. La empresa ya ha recomprado aproximadamente 27.6 millones de dólares en acciones, quedando 12.4 millones de dólares disponibles para recompra. El programa permite compras discrecionales a través del mercado abierto o transacciones privadas, incluyendo posibles planes bajo la Regla 10b5-1. El CEO Ashu Roy enfatizó la creencia de la compañía en que sus acciones están subvaluadas y su sólida posición en el mercado del conocimiento en IA. El programa de recompra se financiará con efectivo existente o flujos de efectivo futuros y puede ser modificado o suspendido en cualquier momento.
eGain은 2025년 11월 14일까지 주식 매입 프로그램을 연장한다고 발표했습니다. 이 회사는 이미 약 2760만 달러의 주식을 재매입했으며, 1240만 달러가 재매입을 위해 남아 있습니다. 이 프로그램은 공개 시장 또는 사적인 거래를 통한 재량 매입을 허용하며, 잠재적인 10b5-1 규정 계획을 포함합니다. CEO인 Ashu Roy는 회사가 자사의 주식이 저평가되어 있다고 믿고 있으며 AI 지식 시장에서의 강력한 입지를 강조했습니다. 재매입 프로그램은 기존 현금이나 미래의 현금 흐름으로 자금을 조달하며, 언제든지 수정되거나 중단될 수 있습니다.
eGain a annoncé une prolongation de son programme de rachat d'actions jusqu'au 14 novembre 2025. L'entreprise a déjà racheté environ 27,6 millions de dollars d'actions, avec 12,4 millions de dollars restant disponibles pour le rachat. Le programme permet des achats discrétionnaires via le marché ouvert ou des transactions privées, y compris des plans potentiels conformes à la règle 10b5-1. Le PDG Ashu Roy a souligné la conviction de l'entreprise que ses actions sont sous-évaluées et sa forte position sur le marché de la connaissance en IA. Le programme de rachat sera financé par l'utilisation de liquidités existantes ou de flux de trésorerie futurs et peut être modifié ou suspendu à tout moment.
eGain hat eine Verlängerung seines Aktienrückkaufprogramms bis zum 14. November 2025 angekündigt. Das Unternehmen hat bereits etwa 27,6 Millionen Dollar an Aktien zurückgekauft, wobei noch 12,4 Millionen Dollar für den Rückkauf verfügbar sind. Das Programm erlaubt diskretionäre Käufe über den offenen Markt oder private Transaktionen, einschließlich potenzieller Regel-10b5-1-Pläne. CEO Ashu Roy betonte den Glauben des Unternehmens, dass die eigenen Aktien unterbewertet sind, sowie die starke Position im KI-Wissenmarkt. Das Rückkaufprogramm wird mit vorhandenen Bargeldreserven oder zukünftigen Cashflows finanziert und kann jederzeit geändert oder ausgesetzt werden.
- Strong balance sheet position allowing for share repurchases
- $27.6 million of shares already repurchased, demonstrating commitment to shareholder value
- Additional $12.4 million available for future share repurchases
- Program may reduce cash reserves available for business operations or growth initiatives
Insights
The extension of eGain's stock buyback program with
The company's emphasis on maintaining a strong balance sheet while pursuing growth in the AI knowledge market demonstrates prudent capital allocation. However, investors should note that buyback announcements don't guarantee actual repurchases, as the program remains discretionary and subject to market conditions. The extended timeline until November 2025 provides ample opportunity for strategic execution.
SUNNYVALE, Calif., Nov. 21, 2024 (GLOBE NEWSWIRE) -- eGain (Nasdaq: EGAN), the AI Knowledge Management platform for business, announced today that its Board of Directors approved an extension to the stock repurchase program from November 14, 2024, until the earlier of (i) the date the aggregate amount of shares that can be repurchased under the stock repurchase program have been repurchased and (ii) November 14, 2025.
"This extension underscores our belief that our shares are undervalued and reinforces our confidence in the significant growth potential of the AI knowledge market. With our strong balance sheet, we believe we are well-positioned to expand our market presence in knowledge management while delivering value to shareholders through our ongoing buyback program," said Ashu Roy, eGain’s CEO.
As of November 15, 2024, eGain has repurchased approximately
Under the stock repurchase program, eGain may purchase shares of common stock on a discretionary basis from time to time through open market transactions or privately negotiated transactions at prices deemed appropriate by eGain. In addition, at the discretion of eGain, open market repurchase of common stock may also be made under a Rule 10b5-1 plan, which would permit common stock to be repurchased when eGain might otherwise be precluded from doing so under insider trading laws or self-imposed trading restrictions.
The timing and number of shares repurchased will be determined based on an evaluation of market conditions and other factors, including stock price, trading volume, general business and market conditions, and capital availability. The stock repurchase program does not obligate eGain to acquire a specified number of shares and may be modified, suspended, or discontinued at any time at eGain’s discretion without notice.
The stock repurchase program will be funded using existing cash or future cash flows.
About eGain
eGain AI Knowledge Hub helps businesses improve experience and reduce cost by delivering trusted, consumable answers. Visit www.egain.com for more info.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, including without limitation: statements regarding the timing, scope, and funding of our stock repurchase program; our belief that our shares are undervalued; our belief that we are well-positioned to expand our market presence; our focus, growth potential and market opportunity; and the expected benefits of our products. The achievement or success of the matters covered by such forward-looking statements involves risks, uncertainties, and assumptions, many of which involve factors or circumstances that are beyond our control. If any such risks or uncertainties materialize or if any of the assumptions prove incorrect, our actual results could differ materially from the results expressed or implied by the forward-looking statements we make. The risks and uncertainties referred to above include, but are not limited to: risks to our business, operating results, and financial condition; the pace of technological advancements in generative AI and the adaptability of our services to incorporate these advancements; market demand for AI-enabled solutions; risks associated with new product releases and new services and products features; risks that customer demand may fluctuate or decrease; risks that we are unable to collect unbilled contractual commitments, particularly in the current economic environment; risks that our lengthy sales cycles may negatively affect our operating results; currency risks; our ability to capitalize on customer engagement; risks related to our reliance on a relatively small number of customers for a substantial portion of our revenue; our ability to compete successfully and manage growth; our ability to develop and expand strategic and third party distribution channels; risks related to our international operations; our ability to continue to innovate; our strategy of making investments in sales to drive growth; general political or destabilizing events, including war, intensified international hostilities, conflict or acts of terrorism; the effect of legislative initiatives or proposals, statutory changes, governmental or other applicable regulations and/or changes in industry requirements, including those addressing data privacy, cyber-security and cross-border data transfers; and other risks detailed from time to time in eGain’s public filings, including eGain’s annual report on Form 10-K for the fiscal year ended June 30, 2024, quarterly report on Form 10-Q for the fiscal quarter ended September 30, 2024, and subsequent reports filed with the Securities and Exchange Commission, which are available on the Securities and Exchange Commission’s website at www.sec.gov. These forward-looking statements are based on current expectations and speak only as of the date hereof. We assume no obligation and do not intend to update these forward-looking statements, except as required by law.
eGain, the eGain logo, and all other eGain product names and slogans are trademarks or registered trademarks of eGain Corporation in the United States and/or other countries. All other company names and products mentioned in this release may be trademarks or registered trademarks of the respective companies.
MKR Investor Relations
Todd Kehrli or Jim Byers
Phone: 323-468-2300
Email: egan@mkr-group.com
FAQ
How much has eGain (EGAN) repurchased under its stock buyback program?
When does eGain's (EGAN) extended stock repurchase program expire?
How much remains available in eGain's (EGAN) stock repurchase program?
How will eGain (EGAN) fund its stock repurchase program?
