Elastic (ESTC) announced that its Board of Directors has approved a share repurchase program under which the company is authorized to repurchase up to $500M of the company’s outstanding ordinary shares from time to time. The repurchase program does not have an expiration date. “Our share repurchase program reflects the Board and management team’s confidence in the strength of Elastic’s business, strategy and execution,” said Navam Welihinda, Chief Financial Officer of Elastic. “Through our disciplined capital allocation approach and strong balance sheet, we are well-positioned to continue investing in our business while delivering value to our shareholders.”
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