v3.25.1
Share Repurchase Program
3 Months Ended
Mar. 31, 2025
Restructuring and Related Activities [Abstract]  
Share Repurchase Program Share Repurchase Program
In May 2023, the Company’s Board of Directors approved a share repurchase program for the repurchase of up to $50.0 million of the Company's outstanding common stock through May 15, 2025 (the “Repurchase Program”). The Repurchase Program authorizes the Company to effect repurchases through open market transactions, privately negotiated transactions, Rule 10b5-1 trading plans and/or Rule 10b-18 trading plans, and other means. The Company is not obligated to repurchase any specific number of shares or dollar amount and may discontinue the Repurchase Program at any time. The timing, number and purchase price of share repurchases, if any, will be determined by the Company’s management in its discretion and will depend on a number of factors, including the market price of shares, general market and economic conditions, and other alternatives available to the Company.
During the three months ended March 31, 2025, the Company repurchased 0.3 million shares of common stock under the Repurchase Program in open market transactions at a weighted-average price of $2.70 per share for an aggregate purchase price of $0.8 million, inclusive of transaction costs. As of March 31, 2025, $43.0 million remained available for future share repurchases under the Repurchase Program. The Company repurchased no shares of common stock under the Repurchase Program during the three months ended March 31, 2024.
Subsequent to March 31, 2025, the Company repurchased 0.5 million shares of common stock under the Repurchase Program in open market transactions at a weighted-average price of $2.10 per share for an aggregate purchase price of $1.0 million, inclusive of transaction costs.