Subsequent Event |
6 Months Ended |
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Jun. 30, 2026 | |
| Subsequent Events [Abstract] | |
| Subsequent Event | Subsequent Events In July 2026, the compensation committee of the board of directors of the Company certified the satisfaction of the market condition applicable to PRSUs previously granted to Daniel Perez, the Company’s Chief Executive Officer and Co-Founder, and Gabriel Mecklenburg, the Company’s Executive Chairman and Co-Founder, representing 944,250 shares of Class B common stock underlying such PRSUs to each of Messrs. Perez and Mecklenburg, respectively. The PRSUs held by Mr. Perez settled on July 27, 2026, and 944,250 shares of Class B common stock were issued to Mr. Perez. The Company net settled the award by withholding and cancelling shares to satisfy Mr. Perez’s federal and state tax withholding obligations, which resulted in a cash outlay by the Company of approximately $37.9 million in the third quarter of 2026. The PRSUs held by Mr. Mecklenburg settled on August 4, 2026 following early termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. The Company net settled the award by withholding and cancelling shares to satisfy Mr. Mecklenburg federal and state tax withholding obligations, which resulted in a cash outlay by the Company of approximately $39.6 million in the third quarter of 2026. As of July 29, 2026, the Company had repurchased an aggregate of $196.5 million of its Class A common stock under the share repurchase program. On July 29, 2026, the Company’s board of directors approved an increase to the share repurchase program, resulting in $300.0 million of its Class A common stock available for future repurchase, for a total aggregate amount authorized under the share repurchase program of $496.5 million as of such date. On August 4, 2026, the Company announced that it has entered into a definitive agreement to acquire Cylinder Health, Inc., a leader in virtual-first digestive health care for $105 million in cash consideration. The transaction is subject to customary closing conditions and is expected to close in the third quarter of 2026.
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