Subsequent Events |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Subsequent Events [Abstract] | |
| Subsequent Events | Subsequent Events On August 5, 2026, the Company announced that the Board of Directors approved a quarterly cash dividend. The dividend, in the amount of $0.06 per share outstanding, will be paid on September 1, 2026 to stockholders of record on August 17, 2026. Future dividends will be subject to further review and approval by the Board of Directors in accordance with applicable law. The Board of Directors reserves the right to adjust or withdraw the quarterly dividend in future periods as it reviews the Company’s capital allocation of Directors strategy from time-to-time. On August 3, 2026, the Company issued a warrant to Microsoft Corporation to purchase up to 800,000 shares of the Company's common stock at an exercise price of $0.01 per share. The warrant was issued in connection with anticipated sales per the parties' commercial relationship and is designed to vest in two tranches based on purchases by Microsoft and its affiliates of the Company’s products and services during measurement periods ending June 30, 2027 and June 30, 2028. Depending on the level of purchases during each measurement period, up to 400,000 shares may vest with respect to each tranche, for a maximum of 800,000 shares. Subject to the terms and conditions of the warrant, the warrant is exercisable in whole or in part beginning January 1, 2028 with respect to the first tranche and January 1, 2029 with respect to the second tranche, in each case through its expiration date in 2036 or upon acquisition of the Company by a third party. The Company is continuing to evaluate the accounting for and valuation of the warrant. Accordingly, the Company is currently unable to reasonably estimate the financial effect of the issuance of the warrant on its financial statements.
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