Equity |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Equity [Abstract] | |
| Equity | 6. Equity Share Repurchase Program On July 22, 2025, the Company’s board of directors authorized a share repurchase program for up to $50.0 million of the Company’s Class A common stock for one year from the board approval date. Share repurchases under the $50.0 million program were authorized to be made from time to time on the open market, pursuant to Rule 10b5-1 trading plans, or by other legally permissible means. The share repurchase program did not obligate the Company to acquire a specific number of shares, and could have been suspended, modified, or terminated at any time, without prior notice. Repurchased shares were immediately retired and resumed the status of authorized but unissued shares of common stock. On August 11, 2025, the Company repurchased 900,000 shares of Class A common stock under the program in a negotiated transaction with a related party at a purchase price of $23.33 per share for an aggregate purchase price of $21.0 million (see Note 10). During the first quarter of 2026, the Company repurchased 1,068,016 shares of Class A common stock under the program at an average purchase price of $18.59 per share for an aggregate purchase price of $19.9 million. During the three months ended June 30, 2026, the Company repurchased an additional 578,322 shares of Class A common stock under the program at an average purchase price of $15.82 per share for an aggregate purchase price of $9.1 million. As of June 30, 2026, the Company has completed the share repurchase program. |