The only reason it’s buying back the stock is because the price has been destroyed by the company’s underperformance. Also yes buybacks will reduce profit but an unprofitable company doing buybacks is not a healthy one.

Agree with the above general assessment that this is a company doing layoffs to address years of bad decisions and underperformance, and the broader issue of SaaS valuations as folks question valuations there. Just another case of “AI” as a PR puff excuse to avoid simply admitting this is about correcting prior bad management decisions.