May. 7 at 7:23 PM
$DIBS last year these guys repurchased
$31.2m of stock at an average price of
$4.90 and by year end the authorization had dwindled to
$3.9m left - so they have been unable to buy. They have
$103M in cash on the balance sheet and burned only ~
$3M in operating cash in 2024. They have guided for GMV and revenue growth in Q1.
There is a decent chance they increase their repurchase authorization at some point. A
$10M authorization, which is what they announced in August 2024, would be enough to repurchase ~11% of the company - note the company's ~
$95M market cap is trading well under cash value. If they were willing to buy at
$4.90, 90% above the current price, last year they might be willing to buy stock now with what seems to be a better performing business
