STOCKHOLDERS' EQUITY

6 Months Ended

Jun. 30, 2026

Equity [Abstract]

STOCKHOLDERS’ EQUITY

STOCKHOLDERS’ EQUITY

Warrants — As of June 30, 2026 and December 31, 2025, the Company had warrants outstanding which entitle holders to purchase an immaterial number of shares of common stock.

Share Repurchase Program — In January 2026, the Company’s Board of Directors approved an increase to its 2025 share repurchase program authorization from $500.0 million to $1.0 billion 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 and six months ended June 30, 2026, the Company purchased 7,351,057 and 7,880,038 shares of common stock for an average share price of $20.41 and $21.26, totaling $150.0 million and $167.5 million, respectively. During the three and six months ended June 30, 2025, the Company purchased 1,553,871 and 4,600,086 shares of common stock for an average share price of $32.18 and $32.61, totaling $50.0 million and $150.0 million, respectively. All repurchased shares became treasury stock. As of June 30, 2026, the Company is authorized to repurchase up to a remaining $525.0 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 and six months ended June 30, 2026 and 2025 (in thousands):

	2026	2025
Balance at beginning of the year	156,858	166,261
Equity award issuances	659	529
Share repurchases	(529)	(3,046)
Balance at March 31,	156,988	163,744
Equity award issuances	140	104
Share repurchases	(7,351)	(1,554)
Balance at June 30,	149,777	162,294