| Stockholders' Equity and Stock Repurchase Program |
Note 7. Stockholders’ Equity and Stock Repurchase Program Changes in stockholders’ equity for the three months ended March 31, 2026 and 2025 were as follows:
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Three Months Ended March 31, 2026 |
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Common Stock |
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Additional
Paid-in |
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Retained |
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Non-controlling |
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Total
Stockholders’ |
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Number |
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Amount |
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Capital |
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Earnings |
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Interest |
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Equity |
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(in thousands, except share data) |
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Beginning balance |
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71,371,922 |
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$ |
71 |
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$ |
144,249 |
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$ |
368,215 |
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$ |
— |
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$ |
512,535 |
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Issuance of Class A common stock from
exercise of stock options and vesting
of restricted stock units |
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158,101 |
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— |
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(540 |
) |
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— |
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— |
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(540 |
) |
Equity-based
compensation |
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— |
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— |
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3,249 |
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— |
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— |
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3,249 |
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Cumulative translation
adjustment |
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— |
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— |
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— |
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(751 |
) |
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— |
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(751 |
) |
Issuance of non-controlling interest at fair value |
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— |
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— |
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(1,749 |
) |
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— |
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1,749 |
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— |
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Net income (loss) |
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— |
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— |
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— |
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14,352 |
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(594 |
) |
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13,758 |
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Ending balance |
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71,530,023 |
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$ |
71 |
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$ |
145,209 |
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$ |
381,816 |
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$ |
1,155 |
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$ |
528,251 |
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Three Months Ended March 31, 2025 |
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Common Stock |
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Additional
Paid-in |
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Retained |
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Non-controlling |
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Total
Stockholders’ |
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Number |
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Amount |
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Capital |
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Earnings |
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Interest |
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Equity |
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(in thousands, except share data) |
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Beginning balance |
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71,200,480 |
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$ |
72 |
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$ |
133,046 |
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$ |
305,070 |
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$ |
(403 |
) |
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$ |
437,785 |
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Issuance of Class A common stock from
exercise of stock options and vesting
of restricted stock units |
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132,132 |
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— |
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(531 |
) |
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— |
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— |
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(531 |
) |
Equity-based
compensation |
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— |
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— |
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2,753 |
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— |
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— |
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2,753 |
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Cumulative translation
adjustment |
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— |
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— |
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— |
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1,958 |
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— |
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1,958 |
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Net income (loss) |
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— |
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— |
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— |
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11,819 |
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(413 |
) |
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11,406 |
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Ending balance |
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71,332,612 |
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$ |
72 |
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$ |
135,268 |
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$ |
318,847 |
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$ |
(816 |
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$ |
453,371 |
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Stock Repurchase Program In August 2023, our board of directors authorized a stock repurchase program of up to $100 million of our outstanding Class A common stock. The timing and amount of any stock repurchases is determined based on market conditions, stock price and other factors, and the program does not require us to repurchase any specific number of shares of Class A common stock. The program has no expiration date but it may be modified, suspended or terminated at any time. The stock repurchase program is funded from available cash and cash equivalents. All repurchased shares under the stock repurchase program will be retired. No shares were repurchased during the three months ended March 31, 2026 and 2025.
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