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Share repurchases
 12 Months Ended
Dec. 31, 2024
Share repurchases  
Share repurchases

Note 15 – Share repurchases

In August 2024, the Company’s board of directors authorized the repurchase of up to $10 million of outstanding common stock during 2024 and 2025. In October 2024, the Company’s board of directors approved an increase to the program pursuant to which the Company may now repurchase up to $20 million of outstanding common stock (consisting of up to $10 million in shares during each of calendar year 2024 and 2025) Purchases will be funded from the Company’s available cash and cash flow. The Company may purchase shares of its common stock on a discretionary basis from time to time through open market repurchases or privately negotiated transactions or through other means, including by entering into Rule 10b5-1 trading plans, in each case, during an “open window” and when the Company does not possess material non-public information. The timing and actual number of shares repurchased under the repurchase program will depend on a variety of factors, including stock price, trading volume, market conditions, corporate and regulatory requirements and other general business considerations. The repurchase program may be modified, suspended or discontinued at any time without prior notice. During the year ended December 31, 2024, the Company repurchased 1,244,076 shares, totaling $8,145,594, at an average price of $6.55 per share. These repurchased shares were retired during the year ended December 31, 2024. In January 2025, the Company repurchased 259,266 shares, totaling $1,535,286 at an average price of $5.92 per share.