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Stockholders' Equity
 3 Months Ended
Mar. 31, 2025
Stockholders' Equity Note [Abstract]  
Stockholders' Equity
12. Stockholders’ Equity
Equity Acquisition Consideration
On February 3, 2025, as part of the equity portion of the Acquisition consideration, the Company issued 30,320,161 shares of new Common Stock and reissued all 13,429,839 shares of its Treasury Stock at $6.01 per share. A $6.3 million gain on issuance of Treasury Stock, representing the excess of the fair value at the time of issuance of $80.7 million over the original cost of $74.4 million, was recorded to additional paid-in capital. In addition, the Company incurred direct stock issuance costs of approximately $1.6 million, which have been recorded as a reduction to additional paid-in capital.
Share Repurchases
On December 14, 2022, our board of directors (“Board”) approved a share repurchase program, authorizing the Company to repurchase up to $30 million of its Common Stock, with no requirement to purchase any minimum number of shares. The manner, timing, and actual number of shares repurchased under the program will depend on a variety of factors, including price, general business and market conditions, and other investment opportunities. Shares may be repurchased through privately negotiated transactions or open market purchases, including through the use of trading plans intended to qualify under Rule 10b5-1 under the Securities Exchange Act of 1934, as amended. The repurchase program may be commenced, suspended, or terminated at any time by the Company at its discretion without prior notice. There were no share repurchases under the Company’s share repurchase program during the three months ended March 31, 2025. During the three months ended March 31, 2024, the Company repurchased 945,947 shares with a fair value of $3.9 million under the repurchase program.
As of March 31, 2025, the remaining availability under the Company’s $30 million share repurchase program was $6.6 million. Commission costs associated with share repurchases and any excise taxes accrued as a result of the Inflation Reduction Act of 2022 do not reduce the remaining authorized amount under the repurchase programs.
In addition, the Company may periodically withhold shares to satisfy employee tax withholding obligations arising in connection with the vesting of restricted stock units and exercise of options and warrants in accordance with the terms of the Company’s equity incentive plans and the underlying award agreements.
During the three months ended March 31, 2025, the Company withheld 73,000 shares with a fair value of $0.4 million to satisfy employee tax withholding obligations. During the three months ended March 31, 2024, the Company withheld 37,492 shares with a fair value of $0.2 million.
Accumulated Other Comprehensive Loss
The following table details the changes in accumulated other compressive loss, net of tax:
Foreign Currency Translation Loss
Unrealized (Loss) Gain on Investments in Marketable Securities(1)
Total Accumulated Other Comprehensive Loss
(In thousands)
Balance–December 31, 2024$(9,543)$63 $(9,480)
Other comprehensive income (loss), net of tax:
   Other comprehensive income (loss) before reclassifications34,263 (36)34,227 
   Realized gains from sales of investments in marketable securities reclassified to earnings— (40)(40)
Other comprehensive income (loss), net of tax34,263 (76)34,187 
Balance–March 31, 2025$24,720 $(13)$24,707 
(1) The tax effects related to realized and unrealized gains on investments in marketable securities was immaterial for the three months ended March 31, 2025. There were no amounts reclassified from accumulated other comprehensive loss to earnings in the three months ended March 31, 2024.