Oblong (OBLG) Announces Share Buyback

Oblong, Inc. (Nasdaq: OBLG) (“Oblong” or the “Company”), announced today that its Board of Directors has authorized a stock buyback program (the “Program”) to repurchase up to $500,000 of the Company’s common stock.

With approximately 1.1 million shares of common stock outstanding, the Program could enable the Company to repurchase up to approximately 25% of its shares at current market prices, reflecting management’s strong belief that the stock is undervalued. Share repurchases under the Program may be funded using the Company’s existing cash balance or future cash flows. As of December 31, 2024, the Company had approximately $5.0 million of cash and no debt. Repurchases may be made in the open market, in privately negotiated transactions, or through other means as permitted by securities laws. The number of shares purchased and the timing of purchases will depend on factors such as available cash, general business conditions, and the pricing of the Company’s common stock. The Program does not obligate the Company to acquire a specific number of shares and may be suspended, modified, or terminated at any time. The Company may also enter into Rule 10b5-1 trading plans under the Program.

Oblong has been actively pursuing a disciplined M&A strategy, targeting pure SaaS businesses or companies that can significantly enhance operating leverage and profitability through the integration of AI-driven automation and predictive analytics into their workflows. While challenging market conditions have limited suitable opportunities, we remain steadfast in our commitment to identifying high-potential targets that align with our vision for innovation and value creation. In the interim, the $500,000 stock buyback program reflects our dedication to enhancing shareholder value while maintaining flexibility for strategic growth initiatives.

“I’m pleased to announce our Board’s authorization of a $500,000 stock buyback program, which demonstrates our confidence in the Company’s intrinsic value and our commitment to shareholders,” said Peter Holst, CEO of Oblong. “With a strong balance sheet, including $5.0 million in cash and no debt as of December 31, 2024, we are well-positioned to execute opportunistic share repurchases while pursuing strategic growth opportunities, including potential M&A driven by our focus on transformative SaaS and AI-enabled businesses.”

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