Convertible Preferred Stock and Equity |
9 Months Ended |
|---|---|
Sep. 30, 2026 | |
| Equity [Abstract] | |
| Convertible Preferred Stock and Equity | NOTE 7. CONVERTIBLE PREFERRED STOCK AND EQUITY
Preferred Stock The Company is authorized to issue 50,000 shares of $0.0001 par value preferred stock. As of September 30, 2026, no shares of preferred stock were issued or outstanding. Stock Repurchase Program In March 2024, the Company's Board of Directors (the "Board") authorized a stock repurchase program pursuant to which we may repurchase up to $50,000 of our Class A common stock. In July 2026, the Board approved the termination of this stock repurchase program and authorized a new stock repurchase program pursuant to which the Company may repurchase up to $25,000 of its outstanding Class A common stock. The new authorization replaces the prior repurchase program in its entirety. Repurchases under the program may be made from time to time through open market purchases or through privately negotiated transactions subject to market conditions, applicable legal requirements and other relevant factors. The repurchase program does not obligate us to acquire any particular amount of our Class A common stock and may be suspended at any time at our discretion. The timing and number of shares repurchased will depend on a variety of factors, including the stock price, business and market conditions, corporate and regulatory requirements, alternative investment opportunities, acquisition opportunities, and other factors. During the three months ended September 30, 2026, the Company repurchased and subsequently retired 2,495 shares of our Class A common stock under the new stock repurchase program at an average price of $1.37 per share for a total of $3,415, including $25 of broker fees. During the nine months ended September 30, 2026, the Company repurchased and subsequently retired 5,295 shares of our Class A common stock under the stock repurchase programs at an average price of $1.29 per share for a total of $6,815, including $53 of broker fees. As of September 30, 2026, approximately $21,609 remained available for stock repurchases pursuant to the stock repurchase program. During the nine months ended September 30, 2025, the Company repurchased and subsequently retired 5,084 shares of our Class A common stock under the stock repurchase program at an average price of $0.96 per share for a total of $4,886, including $51 of broker fees. There were no such purchases during the three months ended September 30, 2025. The Company has elected to record the amount paid to repurchase the shares in excess of the par value entirely to accumulated deficit. As of September 30, 2025, approximately $16,751 remained available for stock repurchases pursuant to the stock repurchase program. |