Nextdoor announces share buyback program

SAN FRANCISCO–(BUSINESS WIRE)–Nextdoor Holdings, Inc. (NYSE: KIND), the local network, today announced that its board of directors has approved a share buyback program with authority to purchase up to $100 million of its Class A common shares until June 30, 2024 .

“We are committed to strategically deploying capital to generate long-term shareholder value. We believe that the current macroeconomic environment, combined with the strength of our balance sheet, presents an attractive buying opportunity for our stocks. This plan reflects the confidence we have in our market opportunities and our investment strategy for long-term growth, which we believe is not reflected in the current market valuation, while creating sustainable value for our shareholders, our employees and our neighbours. Nextdoor is one of the most frequently used consumer products, enabling a content-rich, interactive and personalized experience for all neighborhood stakeholders and a differentiated platform for advertisers of all sizes,” said Mike Doyle, CFO of Nextdoor.

Nextdoor may redeem shares from time to time through open market purchases, over-the-counter transactions, or other means, including through the use of trading plans intended to be eligible under Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, in accordance with applicable securities laws and other restrictions. The timing and total amount of share repurchases will depend on business, economic and market conditions, corporate and regulatory requirements, prevailing share prices and other considerations. The authorization expires on June 30, 2024 and may be suspended or terminated at any time and does not obligate the company to acquire any amount of Class A common stock.

Nextdoor uses its Investor Relations website (investors.nextdoor.com), its Twitter account (twitter.com/Nextdoor), her LinkedIn homepage (linkedin.com/company/nextdoor-com), and Sarah Friar’s LinkedIn posts (linkedin.com/in/sarah-friar-922b044) as a means to broadcast or notify, among other things, news or announcements regarding its business or financial performance, investor events, press releases and earnings releases, and as a means of disclosing material nonpublic information and complying with its disclosure obligations under of the FD regulation.

Forward-looking statements

This press release contains forward-looking statements, including, but not limited to, statements regarding Nextdoor’s stock buyback program. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as “anticipate”, “estimate”, “expect”, “project”, “plan”, “intend”, “target”, “aim”, “believe”. , “could”, “will”, “should”, “become”, “could”, “may”, “probably”, and other terms and terms of similar meaning in connection with any discussion of timing or nature repurchases of Class A common stock by Nextdoor, futures or financial performance or other events. Forward-looking statements give our current expectations and projections regarding our share buyback program; financial condition; plans; Goals; growth opportunities; hypotheses; risks; future performance; Company; and the results of operations. Neither we nor any other person assumes responsibility for the accuracy and completeness of these forward-looking statements. The forward-looking statements included in this press release relate only to events as of the date hereof. Nextdoor undertakes no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise, except as required by law.

All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those we expected. Further information about the factors that could affect our results of operations and the risks and uncertainties are provided in our public filings with the Securities and Exchange Commission, copies of which may be obtained by visiting our Investor Relations website at investor.nextdoor.com or the SEC website. at www.sec.gov. These risks and uncertainties include, but are not limited to, our ability or desire to repurchase Class A common stock of Nextdoor in the future.

About Nextdoor

Nextdoor (NYSE:KIND) is where you connect to the neighborhoods that matter to you so you can belong there. Kindness is at the heart of our purpose: to cultivate a kinder world where everyone has a neighborhood they can count on. Neighbors around the world turn to Nextdoor daily to receive trusted information, give and get help, get things done, and make real connections with people near them – neighbors, businesses, and utilities. Today, neighbors rely on Nextdoor in more than 290,000 neighborhoods in 11 countries. In the United States, nearly 1 in 3 households uses the network. Nextdoor is based in San Francisco. For more information and images: nextdoor.com/newsroom.