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Stockholders' Equity
 6 Months Ended
Jun. 30, 2025
Stockholders' Equity  
Stockholders' Equity

9. Stockholders’ Equity

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NGCS Acquisition

On May 1, 2025, we completed the NGCS Acquisition and issued approximately 2.3 million shares of common stock to NGCSE sellers as part of the acquisition purchase price. The NGCS acquisition date fair value was $53.0 million and is reflected in common stock and additional paid-in capital in our condensed consolidated statements of equity. See Note 3 (“Business Transactions”) for further details.

TOPS Acquisition

On August 30, 2024, we completed the TOPS Acquisition and issued approximately 6.9 million shares of common stock to the sellers as part of the acquisition purchase price. The TOPS acquisition date fair value was $139.1 million and is reflected in common stock and additional paid-in capital in our condensed consolidated statements of equity. See Note 3 (“Business Transactions”) for further details.

July 2024 Equity Offering

On July 24, 2024, we sold, pursuant to a public underwriting offering, approximately 12.7 million shares, including approximately 1.7 million shares pursuant to an over-allotment option. Archrock received net proceeds of $255.7 million, after deducting underwriting discounts, commissions and offering expenses. Proceeds from this equity offering were used to fund a portion of the TOPS Acquisition.

Share Repurchases

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Share Repurchase Program

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Our Board of Directors authorized a share repurchase program in April 2023 that allowed us to repurchase and retire up to $50.0 million of outstanding common stock over a 12-month period. An extension of the Share Repurchase Program was approved by our Board of Directors in April 2024 for an additional 24-month period and replenished the amount of shares authorized for repurchase, resulting in available capacity of $50.0 million at that time. In April 2025, our Board of Directors approved an increase in the Share Repurchase Program by an additional $50.0 million through April 27, 2026.

As of June 30, 2025, available capacity under the Share Repurchase Program was $58.9 million. Under the Share Repurchase Program, shares of our common stock may be repurchased periodically, including in the open market, privately negotiated transactions, or otherwise in accordance with applicable federal securities laws, at any time. Through June 30, 2025, we had repurchased 2,719,315 common shares at an average price of $18.84 per share for an aggregate of $51.2 million.

On June 30, 2025, we retired 2,719,315 shares that had been previously repurchased under the Share Repurchase Program.

Shares Withheld to Cover

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The 2020 Plan allows us to withhold shares upon vesting of restricted stock at the then-current market price to cover taxes required to be withheld on the vesting date.

The following tables summarize shares repurchased and shares withheld:

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Three Months Ended

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Six Months Ended

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June 30, 2025

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June 30, 2025

(dollars in thousands, except per share amounts)

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Total Number of Shares

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Average Price per Share

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Total Cost of Shares

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Total Number of Shares

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Average Price per Share

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Total Cost of Shares

Shares repurchased under the Share Repurchase Program

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1,226,954

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$

23.49

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$

28,822

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1,236,115

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$

23.50

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$

29,045

Shares withheld related to net settlement of equity awards

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​

601

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23.80

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​

14

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504,968

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​

29.68

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​

14,988

Total

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1,227,555

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$

23.49

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$

28,836

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​

1,741,083

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$

25.29

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$

44,033

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Three Months Ended

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Six Months Ended

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June 30, 2024

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June 30, 2024

(dollars in thousands, except per share amounts)

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Total Number of Shares

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Average Price per Share

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Total Cost of Shares

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Total Number of Shares

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Average Price per Share

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Total Cost of Shares

Shares repurchased under the Share Repurchase Program

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—

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$

—

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$

—

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82,972

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$

14.83

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$

1,230

Shares withheld related to net settlement of equity awards

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​

597

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17.72

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11

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386,577

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​

16.72

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​

6,462

Total

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​

597

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$

17.72

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$

11

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469,549

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$

16.38

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$

7,692

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Cash Dividends

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The following table summarizes our dividends declared and paid in each of the quarterly periods of 2025 and 2024:

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Dividends per

    

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(dollars in thousands, except per share amounts)

    

Common Share

    

  Dividends Paid

2025

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Q2

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$

0.190

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$

33,620

Q1

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0.190

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34,185

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​

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​

​

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2024

 

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Q4

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$

0.175

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$

30,690

Q3

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0.165

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27,865

Q2

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0.165

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25,819

Q1

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0.165

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26,000

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On July 24, 2025, our Board of Directors declared a quarterly dividend of $0.21 per share of common stock to be paid on August 12, 2025 to stockholders of record at the close of business on August 5, 2025.