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Stock-based Compensation and Common Stock Share Repurchases | 6 Months Ended
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Jun. 30, 2026
Share-Based Payment Arrangement [Abstract] |
Stock-based Compensation and Common Stock Share Repurchases | 10. Stock-based Compensation and Common Stock Share Repurchases Stock-based Compensation Expense For the three months ended June 30, 2026 and 2025 and for the six months ended June 30, 2026 and 2025, stock-based compensation expense, consisting primarily of restricted stock units, was recognized in the Unaudited Condensed Consolidated Income Statements was as follows:
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2026 |  |  | 2025 |  |  | 2026 |  |  | 2025 |
|  |  |  |  |  |  |  | (dollars in thousands) |
Cost of revenue |  | $ | 57 |  |  | $ | 72 |  |  | $ | 116 |  |  | $ | 139 |
Sales and marketing expense |  |  | 2,969 |  |  |  | 2,851 |  |  |  | 5,900 |  |  |  | 5,576 |
Product, technology, and development expense |  |  | 5,535 |  |  |  | 5,467 |  |  |  | 11,036 |  |  |  | 10,969 |
General and administrative expense |  |  | 4,797 |  |  |  | 4,127 |  |  |  | 9,578 |  |  |  | 8,216 |
Total stock-based compensation expense from continuing operations |  |  | 13,358 |  |  |  | 12,517 |  |  |  | 26,630 |  |  |  | 24,900 |
Total stock-based compensation expense from discontinued operations |  |  | — |  |  |  | 508 |  |  |  | — |  |  |  | 1,025 |
Total |  | $ | 13,358 |  |  | $ | 13,025 |  |  | $ | 26,630 |  |  | $ | 25,925 |
For the three months ended June 30, 2026 and 2025 and for the six months ended June 30, 2026 and 2025, consolidated stock-based compensation expense excluded $1.4 million, $1.9 million, $2.9 million, and $3.5 million, respectively, of capitalized website development costs, capitalized internal-use software costs, and capitalized hosting arrangements. Common Stock Share Repurchase Programs In February 2026 the Company announced that the Board authorized a program pursuant to which it may purchase up to $250.0 million of its Class A common stock (the “2026 Share Repurchase Program”). Share repurchases under the 2026 Share Repurchase Program may be made through a variety of methods, including but not limited to open market purchases, privately negotiated transactions, and transactions that may be effected pursuant to one or more plans under Rule 10b5-1 and/or Rule 10b-18 of the Securities Exchange Act of 1934, as amended. The 2026 Share Repurchase Program does not obligate the Company to repurchase any minimum dollar amount or number of shares. The 2026 Share Repurchase Program has an expiration date of December 31, 2026, and prior to its expiration may be modified, suspended, or discontinued by the Board at any time without prior notice. All repurchased shares under the 2026 Share Repurchase Program will be retired. The Company has funded share repurchases and expects to continue to fund share repurchases under the 2026 Share Repurchase Program through cash on hand and cash generated from operations. In November 2024 the Company announced that the Board authorized a program pursuant to which it may purchase up to $200.0 million of its Class A common stock (the “Original 2025 Share Repurchase Program”). In August 2025 the Company announced that the Board amended the Original 2025 Share Repurchase Program to increase the authorization by an additional $150.0 million, for a total authorization to purchase up to $350.0 million of its Class A common stock, and extended the expiration of the Original 2025 Share Repurchase Program from December 31, 2025 to July 31, 2026 (as amended, the “2025 Share Repurchase Program”). The 2025 Share Repurchase Program was completed in November 2025. All repurchased shares under the 2025 Share Repurchase Program were retired. During the three months ended June 30, 2026, the Company repurchased and retired 946,971 shares of its Class A common stock for $29.2 million, exclusive of commissions and excise tax, at an average cost of $30.88 per share, under the 2026 Share Repurchase Program. During the six months ended June 30, 2026, the Company repurchased and retired 6,288,683 shares of its Class A common stock for $204.2 million, exclusive of commissions and excise tax, at an average cost of $32.48 per share, under the 2026 Share Repurchase Program. As of June 30, 2026, the Company had remaining authorization to purchase up to $45.8 million of its Class A common stock under the 2026 Share Repurchase Program. During the three months ended June 30, 2025, the Company repurchased and retired 11,004 shares of its Class A common stock for $0.3 million, exclusive of commissions and excise tax, at an average cost of $29.89 per share, under the 2025 Share Repurchase Program. During the six months ended June 30, 2025, the Company repurchased and retired 5,930,439 shares of its Class A common stock for $184.5 million, exclusive of commissions and excise tax, at an average cost of $31.12 per share, under the 2025 Share Repurchase Program. The 2025 Share Repurchase Program was completed in November 2025.

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