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Share repurchases
 9 Months Ended
Sep. 30, 2025
Share repurchases  
Share repurchases

Note 11 – 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 three-month period ended September 30, 2025, the Company repurchased 135,606 shares, totaling $1.3 million, at an average price of $9.48 per share. During the nine-month period ended September 30, 2025, the Company repurchased 939,259 shares, totaling $5.8 million, at an average price of $6.20 per share. The average prices paid for these shares do not include commissions. These repurchased shares were retired.