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Stockholders' Equity
 12 Months Ended
Dec. 31, 2025
Stockholders' Equity  
Stockholders' Equity

Note 7 – Stockholders’ Equity

At-the-Market Offering

On September 5, 2025, the Company entered into an Equity Distribution Agreement (the “Distribution Agreement”) with Oppenheimer & Co. Inc., serving as agent (“Oppenheimer”), with respect to an at-the-market offering program (the “ATM”) under which the Company may offer and sell, from time to time, shares of its common stock having an aggregate offering price of up to $150,000 through Oppenheimer. During the year ended December 31, 2025, the Company sold 18,023,085 shares of common stock at an average price of $5.06 per share under the Distribution Agreement, raising gross proceeds of $91,215 before deducting offering costs, commissions, and fees. Net proceeds to the Company totaled $88,762 after deducting offering costs, commissions, and fees. As of December 31, 2025, approximately $58,785 remained available for future sales under the Distribution Agreement.

Stock Repurchase Program

On January 23, 2024, the Company announced that its Board of Directors (the “Board”) approved a stock repurchase program authorizing the Company to purchase up to $50,000 of the Company’s outstanding common stock. Under the repurchase program, the Company may purchase shares of its common stock from time to time until the repurchase program expires on December 31, 2025.

The table below presents the number of shares repurchased and retired, the principal, commissions, and total cash paid to repurchase and retire shares of common stock, the excise tax, and the average purchase price per share for the years ended December 31, 2025 and 2024. The repurchased shares were subject to excise tax of 1% of which is accounted for within Additional paid-in capital and accrued within Accounts payable and other current liabilities in the Consolidated Balance Sheets.

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For the Year Ended December 31, 

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2025

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2024

Repurchased and retired shares of common stock

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3,361,396

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5,704,401

Principal paid to repurchase and retire shares of common stock

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$

3,525

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$

8,959

Commissions paid to repurchase and retire shares of common stock

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$

67

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$

113

Total cash paid to repurchase and retire shares of common stock

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$

3,592

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$

9,072

Excise tax accrued

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$

—

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$

90

Average cost paid per share (including commissions)

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$

1.07

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$

1.59

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