Life360 announces $314m share buyback to offset stock dilution
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The news: Life360 has authorised a multi-year share repurchase program of up to USD225 million ($314 million), designed to minimise dilution from stock-based compensation.
The context: Under the program, the company will repurchase its US-listed shares over a multi-year period, supported by a strong balance sheet of twelve consecutive quarters of positive operating cashflow.
Life360 added that the timing and volume of the repurchases will be determined at management’s discretion based on market conditions and the program does not obligate the company to acquire any specific number of shares, and it may be suspended or discontinued at any time.
What they said: “We remain focused on investing in the Life360 platform as we grow our global member base and deepen the value we deliver to families,” Life360 CEO Lauren Antonoff said.
“This targeted share repurchase program reflects the board’s confidence in the durability of our model, our disciplined capital allocations, and our ability to generate consistent long-term cashflow,” she added.
The source: ASX
