v3.26.1
Stockholders' Equity
6 Months Ended
Jun. 30, 2026
Equity [Abstract]  
Stockholders' Equity Stockholders' Equity
Stock Repurchase Programs

On May 24, 2024, our board of directors authorized the repurchase of our common stock in connection with the issuance of the 2029 Notes and also authorized a stock repurchase program, effective May 31, 2024, under which we were authorized to purchase up to an aggregate of $100.0 million of our outstanding common stock during the two-year period ended May 31, 2026.

On May 4, 2026, our board of directors authorized the cancellation of the balance under the stock repurchase program ended May 31, 2026 and adopted a new stock repurchase program, under which we are authorized to purchase up to an aggregate of $150.0 million of our outstanding common stock during the two-year period ending May 4, 2028.

During the three and six months ended June 30, 2026, we repurchased 570,000 and 998,065 shares of our common stock under these programs for $25.0 million and $45.0 million, respectively, which includes applicable commissions and fees. During the three and six months ended June 30, 2025, we repurchased 88,000 and 174,400 shares of our common stock under these programs for $5.1 million and $10.2 million, respectively, which includes applicable commissions and fees.

We are subject to a 1.0% excise tax on the value of net corporate stock repurchases under the Inflation Reduction Act of 2022. When applicable, the excise tax will be included as part of the cost basis of shares acquired and is presented within stockholders’ equity in the condensed consolidated balance sheets.