The board of directors approved a new share repurchase program of up to $10 million, commencing on October 1, 2025 and concluding on September 30, 2026. The program follows a prior initiative that repurchased $6 million in shares as of September 30, 2025, totaling 581,968 shares at an average price of $10.30 per share. This action is part of the company’s disciplined capital deployment strategy, reflecting confidence in its financial position.
The repurchase program will be executed on the open market, in block trades, or through private negotiations. With a solid, debt‑free balance sheet and $23.4 million in cash, the company has the flexibility to return capital to shareholders while maintaining liquidity for growth opportunities. The program underscores management’s belief in the long‑term prospects of the business.
The share repurchase program is a routine financing event but signals ongoing shareholder value creation. It provides a mechanism to manage the company’s capital structure and return capital to shareholders. Investors will monitor the program for its impact on cash balances and future capital allocation decisions.
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