STOCKHOLDERS' EQUITY

3 Months Ended

Mar. 31, 2025

Equity [Abstract]

STOCKHOLDERS’ EQUITY

STOCKHOLDERS’ EQUITY

Warrants — As of March 31, 2025 and December 31, 2024, the Company has warrants outstanding which entitle holders to purchase an immaterial number of shares of common stock.

Share Repurchase Program — The Company’s Board of Directors approved a share repurchase program of up to an aggregate $500.0 million of common stock of the Company. Under the share repurchase program, repurchases may occur in any number of methods depending on timing, market conditions, regulatory requirements, and other corporate considerations. The share repurchase program has no specified expiration date.

During the three months ended March 31, 2025 and 2024, the Company purchased 3,046,215 and 1,251,739 shares of common stock for an average share price of $32.83 and $31.96, totaling $100.0 million and $40.0 million, respectively. All repurchased shares became treasury stock. As of March 31, 2025, the Company is authorized to repurchase up to a remaining $400.0 million of common stock of the Company.

Shares Outstanding — The following table shows the Company’s changes in shares of common stock for the three months ended March 31, 2025 and 2024 (in thousands):

	2025	2024
Balance, beginning of the year	166,261	174,576
Equity award issuances	529	492
Share repurchases	(3,046)	(1,252)
Balance March 31,	163,744	173,816