Earth Science Tech boosts share repurchase program to $10 million

MIAMI - Earth Science Tech, Inc. (OTC:ETST), a $60.33 million market cap company showing impressive revenue growth of 64% over the last twelve months, announced Wednesday its Board of Directors has approved an enhancement and extension of its common stock repurchase program, increasing the total authorization to $10 million and extending the program through December 31, 2027. According to InvestingPro analysis, the company’s stock has demonstrated strong momentum with significant returns across multiple timeframes.

The company has already deployed over $1.8 million to repurchase 20,834,214 shares since the program began on January 29, 2024, leaving approximately $8.17 million available for future repurchases. This aligns with one of several InvestingPro insights highlighting management’s aggressive share buyback strategy, suggesting confidence in the company’s valuation.

"Extending and increasing this program is a direct reflection of our confidence in ETST’s future and our unwavering commitment to our shareholders," said Giorgio R. Saumat, CEO and Chairman of the Board, according to the company’s press release.

The repurchases may be executed through open market transactions or privately negotiated transactions, depending on market conditions, share price, and other factors. The program does not obligate the company to acquire any specific number of shares and can be suspended or discontinued at any time.

Earth Science Tech operates as a strategic holding company focused on acquiring and scaling businesses. Its current operations include compounding pharmaceuticals and telemedicine through subsidiaries such as RxCompoundStore.com, Peaks Curative, Mister Meds, and others. The company also has interests in real estate development and consumer products. With an "Excellent" financial health score of 3.83 according to InvestingPro metrics, the company maintains a moderate debt level while generating sufficient cash flows to cover its obligations.

The announcement comes as part of the company’s ongoing capital allocation strategy. The information in this article is based on a company press release statement.

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