Enova International, a leading financial technology company powered by machine learning and artificial intelligence, announced that its Board of Directors has authorized an increase to the company’s common stock share repurchase program of up to $150 million. This new authorization expires on December 31, 2023, and will go into effect when the existing $100 million share repurchase authorization, which has approximately $19 million remaining as of November 4, 2022, is exhausted.
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“Our solid balance sheet and ample liquidity give us the financial flexibility to successfully navigate a range of operating environments and to continue to deliver on our commitment to driving long-term shareholder value through both continued investments in our business as well as share repurchases,” said David Fisher, Enova’s CEO.
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Repurchases will be made in accordance with applicable securities laws from time to time, and may be made in the open market, through privately negotiated transactions or block trades, or otherwise, and may be made pursuant to repurchase plans designed to comply with Rule 10b5-1(c) of the Securities Exchange Act of 1934, as amended. The timing of repurchases, if any, will be based on the Company’s stock price, leverage ratios, cash balances, general business and market conditions, and other factors. The share repurchase program does not obligate the Company to purchase any shares of its common stock. The authorization for the share repurchase program may be terminated, increased or decreased by the Company’s Board of Directors in its discretion at any time and without prior notice
Enova International is a leading financial technology company providing online financial services through its artificial intelligence and machine learning powered lending platform. Enova serves the needs of non-prime consumers and small businesses, who are frequently underserved by traditional banks. Enova has provided more than 7.5 million customers with over $40 billion in l**** and financing with market leading products that provide a path for them to improve their financial health
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