Quarterly report pursuant to Section 13 or 15(d)

Stockholder's Equity

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Stockholder's Equity
6 Months Ended
Jun. 30, 2023
Stockholder's Equity  
Stockholder's Equity

Note 11 – Stockholder’s Equity

Preferred Stock

 

The Company is authorized to issue 10,000,000 shares of preferred stock with a par value of $0.0001. There were no shares of preferred stock that were issued or outstanding at June 30, 2023 or December 31, 2022.

Common Stock

 

Stock Purchase Program

In September 2022, the Company’s Board of Directors authorized a repurchase program of up to $10.0 million of outstanding common stock. In May 2023, the Company’s Board of Directors authorized an additional $5.0 million to this program. During the quarter ended June 30, 2023, the Company purchased 0.5 million shares for aggregate consideration of $3.4 million. As of June 30, 2023, the Company had repurchased 1.7 million shares for $11.3 million under the program.