Stockholders' Equity |
9 Months Ended |
|---|---|
Sep. 30, 2025 | |
| Equity [Abstract] | |
| Stockholders' Equity | Stockholders' Equity Stock Repurchase Program
On June 3, 2025, the Board of Directors of the Company approved a stock repurchase program (the "2025 SRP") to repurchase up to $5.0 million of common stock of the Company, par value $0.001 per share, from time to time until June 3, 2027 or such other date as the Company has exhausted, or the Board of Directors otherwise terminates, the repurchase authorization. The timing, volume, price, and terms of the repurchases will depend on market and business conditions, applicable legal requirements, and other factors. The repurchases may be made on the open market, in privately negotiated transactions, or in such other manner (e.g., accelerated share repurchase transactions, block trades, derivatives, or otherwise) that complies with the terms of applicable federal and state securities laws and regulations.
During the three and nine months ended September 30, 2025, the Company repurchased $2.3 million of common stock at an average price of $10.05 per share, excluding related costs and fees. As of September 30, 2025, the Company had a remaining $2.7 million authorized for repurchasing shares of its common stock. All shares of common stock that the Company repurchased are held as treasury stock.
Treasury Stock
During the three and nine months ended September 30, 2025, shares of common stock at a total cost of zero and $8,440, respectively, were netted and surrendered as payment for minimum statutory withholding obligations in connection with the vesting of outstanding stock awards. During the three and nine months ended September 30, 2024, shares of common stock at a total cost of zero and $9,583, respectively, were netted and surrendered as payment for minimum statutory withholding obligations in connection with the vesting of outstanding stock awards. Shares surrendered by the participants in accordance with the applicable award agreements and plan are deemed repurchased by the Company but are not part of publicly announced share repurchase programs.
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