v3.26.1
Stockholders' Equity
 6 Months Ended
Jun. 30, 2026
Equity [Abstract]  
Stockholders' Equity Stockholders’ Equity
Authorized Capital
As of June 30, 2026, the Company had the authority to issue up to 1.0 billion shares of stock, at $0.01 par value per share, consisting of 950.0 million shares of Class A common stock and 50.0 million shares of preferred stock.
The Company had no shares of preferred stock issued and outstanding as of June 30, 2026 and December 31, 2025.
Dividends
During the six months ended June 30, 2026 and 2025, the Company declared the following dividends on its common stock:
Declaration DateRecord DatePayment DatePer Share
March 16, 2026March 31, 2026April 15, 2026$0.16
June 15, 2026June 30, 2026July 15, 2026$0.16
March 17, 2025March 31, 2025April 15, 2025$0.16
June 16, 2025June 30, 2025July 14, 2025$0.16
Share Repurchases
In April 2026, the Company’s board of directors have authorized a stock repurchase program (“Stock Repurchase Program”) under which the Company may repurchase up to $50.0 million of its outstanding Class A common stock until April 30, 2027. The Stock Repurchase Program replaces the prior repurchase program authorization which expired on April 30, 2026. Under the Stock Repurchase Program, the Company may repurchase shares in open market purchases, in privately negotiated
transactions or otherwise. The Company has a written trading plan as part of the Share Repurchase Program that provides for share repurchases in open market transactions that is intended to comply with Rule 10b-18 under the Exchange Act. The Stock Repurchase Program will be utilized at management’s discretion and in accordance with the requirements of the SEC. The timing and actual number of shares repurchased will depend on a variety of factors including price, corporate requirements and other conditions.
During the three months ended June 30, 2026, the Company repurchased 3.6 million shares of Class A common stock at a weighted average price of $5.47 per share for an aggregate cost of $19.5 million.
As of June 30, 2026, there was $30.5 million remaining available to make repurchases under the Stock Repurchase Program.
On June 30, 2026, the Company repurchased 0.2 million shares of Class A common stock at a weighted average price of $5.40 per share for an aggregate cost of $1.4 million. In accordance with the Company’s policy, this transaction will be reflected in the consolidated financial statements in July 2026 on the settlement date.
Accumulated Other Comprehensive Income (Loss)
The following tables present the changes in each component of Accumulated Other Comprehensive Income (Loss) (“AOCI”) attributable to stockholders, net of immaterial tax effect. During the six months ended June 30, 2026, there was no AOCI.
Changes in Components of AOCI - Stockholders
(dollars in thousands)Unrealized gain on net investment hedgesForeign currency translation gain (loss)Total
AOCI at December 31, 2024$18,603 $(24,940)$(6,337)
Other comprehensive gain— 1,831 1,831 
AOCI at March 31, 2025$18,603 $(23,109)$(4,506)
Other comprehensive income before reclassification— 1,144 1,144 
Amounts reclassified from AOCI(18,603)21,965 3,362 
Net OCI activity(18,603)23,109 4,506 
AOCI at June 30, 2025$— $— $—