v3.26.1
Stockholders’ Deficit
 3 Months Ended
Mar. 31, 2026
Equity [Abstract]  
Stockholders’ Deficit
Note 10. Stockholders’ Deficit
Share Repurchase Programs
Under the Company’s share repurchase programs, share repurchases may be made at the Company’s discretion from time to time in open market transactions, privately negotiated transactions, or other means, including under plans complying with Rule 10b5-1 under the Securities Exchange Act of 1934. The programs do not obligate the Company to repurchase any specific dollar amount or to acquire any specific number of shares of its Class A Common Stock. The timing and number of any shares repurchased under the programs will depend on a variety of factors, including stock price, trading volume, and general business and market conditions.
The following table summarizes the share repurchase activity of the Company’s Class A Common Stock for the three months ended March 31, 2026 and 2025 (in thousands):
Three Months Ended March 31,
20262025
SharesAmountSharesAmount
Repurchases under share repurchase programs2,572 $82,104 1,822 $49,964 
Amounts for excise tax withholdings and broker’s commissions (1)
— 260 — 72 
Total repurchases of common stock2,572 $82,364 1,822 $50,036 
(1) The amounts are included in additional paid-in capital as part of the repurchased stock’s cost basis.
During the three months ended March 31, 2026, the Company’s Board of Directors increased the remaining share repurchase authorization to $500.0 million, subject to certain limitations and inclusive of repurchases since December 31, 2025. The share repurchase authorization does not expire.
As of March 31, 2026, approximately $417.9 million remained authorized and available under the Company’s share repurchase programs for future share repurchases.
The following table summarizes the number of shares of the Company’s Class A Common Stock repurchased and settled under share repurchase programs (in thousands):
Three Months Ended
March 31,
20262025
Repurchases under share repurchase programs2,572 1,822 
Repurchases unsettled during period(27)— 
Prior-period share repurchases settled during period— — 
Total repurchases of common stock settled2,545 1,822 
Dividends
On February 19, 2026, the Company announced the initiation of its first quarterly cash dividend program. The following table summarizes our dividends activities for the periods presented (in thousands, except per share data):
Record DatePayment DateDividend Per ShareTotal Amount
3/9/20263/16/2026$0.0750 $6,413 
In May 2026, the Company declared a cash dividend of $0.075 per share to be paid on June 11, 2026, to stockholders of record as of the close of business on June 2, 2026, on each of the Company’s Class A common stock, Class B common stock, and Series A Convertible Preferred Stock (on an as-converted basis).
The declaration, payment, and amount of any future dividends will be at the discretion of our Board of Directors and will depend on, among other factors, our results of operations, financial condition, liquidity, capital requirements, and other factors deemed relevant by our Board.