11. Subsequent events

On August 5, 2026, the Company entered into an underwriting agreement with Raymond James & Associates, Inc. and Needham & Company, LLC, as representatives of the several underwriters (the “Underwriters”), relating to an underwritten public offering (the “Offering”) of 1,666,667 shares of its common stock. The Company also granted the Underwriters a 30-day option to purchase up to an additional 250,000 shares, which the Underwriters exercised in full on August 6, 2026, resulting in the issuance and sale of an aggregate of 1,916,667 shares.

On August 7, 2026, the Company closed the Offering at a public offering price of $60.00 per share. The shares were issued under the Company’s effective shelf registration statement on Form S-3. Net proceeds to the Company were approximately $108.6 million, after deducting underwriting discounts and commissions and estimated offering expenses. The Company intends to use the net proceeds for working capital and general corporate purposes, including potential strategic acquisitions.