AudioEye Shares Jump On Share Buyback Approval Of Up To $3M

AudioEye, Inc's AEYE board approved a share buyback of up to $3 million, expiring on June 30, 2024.
The digital accessibility platform looks to fund the stock repurchase program with working capital and cash from operations.
AudioEye held $12 million in cash and equivalents as of March 31.
The Q1 FY22 revenue increased by 19% year-on-year to $6.9 million, beating the consensus of $6.8 million.
Non-GAAP EPS loss was $(0.12) beat the consensus loss of $(0.42).
Price Action: AEYE shares traded higher by 24.90% at $4.22 on the last check Friday.