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ORDINARY SHARES
 6 Months Ended
Jun. 30, 2025
Equity [Abstract]  
ORDINARY SHARES ORDINARY SHARES
Share Repurchases
In the three months ended June 30, 2025, the Group repurchased a total of 1,668,583 Class A ordinary shares at an average price of $13.92, totaling approximately $23.2 million. Direct and incremental costs incurred in relation to the repurchases were $67 thousand. Under existing repurchase plans authorized by our Board of Directors, $8.7 million remain available for Class A ordinary share repurchases as of June 30, 2025.
In the three months ended June 30, 2025, the Group retired 3,227,376 shares of the Company's Class A ordinary shares, which were repurchased in 2025 and 2024. The difference between the cost of the treasury shares and the stated value of the shares is allocated between additional paid-in capital and retained earnings in accordance with ASC 505 requirements.
The following table presents the shares of treasury shares repurchased and reissued:
Three Months ended June 30,Six Months ended June 30,
2025202420252024
Treasury shares at the beginning of the period2,008,984292,637609,390294,029
Repurchases1,668,583 — 3,069,569 — 
Retirement(3,227,376)— (3,227,376)— 
Share-based compensation(43,265)(19,909)(44,657)(21,301)
Treasury shares at the ending of the period406,926272,728406,926272,728