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Investing.com -- Cloudastructure Inc (NASDAQ:CSAI) stock surged 18.2% on Thursday after the AI surveillance company announced a $5 million share repurchase program, signaling confidence in its business outlook amid strong sales performance.
The company’s Board of Directors authorized the buyback program, which will allow Cloudastructure to repurchase its common stock in the open market in accordance with securities laws and regulations. The timing and amount of repurchases will depend on capital needs, market conditions, and stock price considerations.
CEO James McCormick highlighted the company’s strong financial position and recent business momentum as key factors behind the decision. "Backed by a strong balance sheet and record-breaking sales performance—having more than tripled our full-year 2024 signed contract total in just the first nine months of 2025—we believe this program gives us the flexibility to act opportunistically in today’s market environment," McCormick stated.
The repurchase program comes as Cloudastructure experiences rapid expansion of its customer base, reflecting growing market demand for cloud-native security solutions. The company, which specializes in AI surveillance and remote guarding, maintains that the buyback aligns with its broader growth strategy focused on product innovation, customer acquisition, and operational efficiency.
Cloudastructure noted that the repurchase program may be suspended or discontinued at any time based on ongoing assessment of various factors including capital requirements and market conditions.
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