STOCKHOLDERS’ EQUITY

12 Months Ended

Dec. 31, 2025

Equity, Attributable to Parent [Abstract]

STOCKHOLDERS’ EQUITY

STOCKHOLDERS’ EQUITY

On December 16, 2022, the Board of Directors authorized the Share Repurchase Program allowing for the expenditure of up to $50.0 million for the repurchase of the Company's common stock. This authorization took effect immediately and remained in place for three years. Under the Share Repurchase Program, Titan did not repurchase any shares of its common stock under the Share Repurchase Program during the year ended December 31, 2025. Titan repurchased 1,964,593 shares of its common stock totaling $16.4 million during the year ended December 31, 2024 and 2,653,786 shares of its common stock totaling $32.6 million during 2023. The share repurchase program ended during 2025 and there are no authorized amounts available for future share repurchases under this program. The Company records treasury stock using the cost method.

On October 18, 2024, the Company entered into a Stock Repurchase Agreement with MHR Capital Partners Master Account LP, a limited partnership organized in Anguilla, British West Indies, MHR Capital Partners (100) LP, a Delaware limited partnership, and MHR Institutional Partners III L.P., a Delaware limited partnership (together, the “MHR Funds”, a related party). Pursuant to the Stock Repurchase Agreement, the Company purchased in a privately negotiated transaction from the MHR Funds, and the MHR Funds sold to the Company, an aggregate of 8,005,000 shares of the Company’s Common Stock at a per share price of $7.20 per share, for aggregate cash consideration equal to $57.6 million (the “MHR Repurchase”). The Company records treasury stock using the cost method.