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Stockholders' Equity | 12 Months Ended
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Dec. 31, 2025
Stockholders' Equity Note [Abstract] |
Stockholders' Equity | Stockholders’ Equity Preferred Stock The Company has the authority to issue 10,000,000 shares of preferred stock with a par value of $0.001 per share. The Board of Directors (the “Board”) has the authority, without action by the Company’s stockholders, to designate and issue shares of preferred stock in one or more series. The Board is also authorized to designate the rights, preferences, and voting powers of each series of preferred stock, any or all of which may be greater than the rights of the common stock including restrictions of dividends on the common stock, dilution of the voting power of the common stock, reduction of the liquidation rights of the common stock, and delaying or preventing a change in control of the Company without further action by the Company’s stockholders. To date, the Board has not designated any rights, preferences, or powers of any preferred stock, and as of December 31, 2025 and 2024, no shares of preferred stock were issued or outstanding. Common Stock The Company has the authority to issue 200,000,000 shares of common stock with a par value of $0.001 per share. Subject to the preferred rights of the holders of shares of any class or series of preferred stock as provided by the Board with respect to any such class or series of preferred stock, the holders of the common stock shall be entitled to receive dividends, as and when declared by the Board. In the event of any liquidation, dissolution, or winding up of the Company, whether voluntary or involuntary, after the distribution or payment to the holders of shares of any class or series of preferred stock as provided by the Board with respect to any such class or series of preferred stock, the remaining assets of the Company available for distribution to stockholders shall be distributed among and paid to the holders of common stock ratably in proportion to the number of shares of common stock held by them. Share Repurchase Programs The Company’s Board, from time-to-time, has authorized share repurchase programs under which the Company may, at the discretion of management, repurchase its outstanding common stock in the open market, or in privately negotiated transactions, in compliance with applicable state and federal securities laws. The timing and amounts of any purchase under the Company’s share repurchase programs is based on market conditions and other factors including price, regulatory requirements, and capital availability. The Company accounts for stock repurchases under these programs using the cost method. As of December 31, 2025, the Company has repurchased 13,967,259 shares of its common stock at an aggregate cost of $166.1 million under all share repurchase programs. November 2024 Authorization On November 18, 2024, the Company announced that the Board authorized a share repurchase program under which the Company may repurchase its outstanding common stock, at the discretion of management, up to $50.0 million in aggregate cost, which included both the share value of the acquired common stock and the fees charged in connection with acquiring the common stock (the “November 2024 Authorization”). On December 11, 2024, the Company concluded all share repurchases under the November 2024 Authorization. Under the November 2024 Authorization, the Company repurchased 3,248,533 shares at an aggregate cost of $50.0 million. February 2025 Authorization On February 26, 2025, the Company announced that the Board authorized a share repurchase program under which the Company may repurchase its outstanding common stock, at the discretion of management, for up to $30.0 million in aggregate cost, which includes both the share value of the acquired common stock and the fees charged in connection with acquiring the common stock (the “February 2025 Authorization”). The February 2025 Authorization will expire in February 2026. The following table presents the share repurchase activities under the February 2025 Authorization as of December 31, 2025.
|  | Number of Shares Purchased |  | Average Price Paid per Share(1) |  |  | Plan Activity
|  |  |  |  |  |  | (In millions)
February 2025 Authorization |  |  |  |  |  |  | $30.0
Repurchases under February 2025 Authorization |  | 2,183,648 |  | $13.72 |  |  | (30.0)
Remaining amount under February 2025 Authorization |  |  |  |  |  |  | $—
(1)Excluding commissions The Company completed all purchases under the February 2025 Authorization in August 2025. August 2025 Authorization On August 6, 2025, the Board announced a share repurchase program under which the Company may repurchase its outstanding common stock, at the discretion of management, for up to $25.0 million in aggregate cost, which includes both the share value of the acquired common stock and the fees charged in connection with acquiring the common stock (the “August 2025 Authorization”). The August 2025 Authorization will expire in May 2026. The Company began to purchase under the August 2025 Authorization in August 2025. The following table presents the share repurchase activities under the August 2025 Authorization as of December 31, 2025.
|  | Number of Shares Purchased |  | Average Price Paid per Share(1) |  |  | Plan Activity
|  |  |  |  |  |  | (In millions)
August 2025 Authorization |  |  |  |  |  |  | 25.0
Repurchases under August 2025 Authorization |  | 386,566 |  | $14.52 |  |  | (5.6)
Remaining amount under August 2025 Authorization |  |  |  |  |  |  | $19.4
(1)Excluding commissions

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