08:36 AM EDT, 06/07/2024 (MT Newswires) -- Oddity Tech ( ODD ) said Friday its board has approved a stock buyback program of up to $150 million of the company's class A ordinary shares.

The program will expire on June 30, 2027, the company said.

With the approval of the repurchase program, Oddity said it now expects Q2 adjusted earnings of roughly $0.69 per diluted share, up from its prior outlook of $0.56. Analysts polled by Capital IQ expect $0.63.

Net revenue for the quarter ending June 30 is now expected to be roughly $189 million, the top end of its previous forecast range of $185 million to $189 million. Analysts surveyed by Capital IQ expect $187.4 million.

Shares of the company were up 6.8% in recent Friday premarket activity.

Price: 39.26, Change: +2.50, Percent Change: +6.80