LEASES (Tables)

6 Months Ended

Jun. 30, 2025

Schedule of right-of-use lease assets and lease liabilities

The Company’s right-of-use lease assets and lease liabilities at June 30, 2025 and December 31, 2024 were as follows (in thousands):


				June 30,			December 31,
		Classification		2025			2024
Assets:
Operating lease assets		Operating lease right-of-use assets		$	47,383		$	34,544

Liabilities:
Current Operating		Operating lease liabilities		$	10,816		$	9,443
Non-Current Operating		Operating lease liabilities, net of current			62,063			37,376
Total Operating lease liabilities				$	72,879		$	46,819

Schedule of components of lease expense

The components of lease expense for the three and six months ended June 30, 2025 and 2024 were as follows (in thousands):


		Three months ended						Six months ended
		June 30,			June 30,			June 30,			June 30,
		2025			2024			2025			2024
Operating lease cost*		$	3,597		$	4,107		$	6,822		$	8,306
Short-term lease cost			3,553			3,413			7,080			6,854
Variable lease costs (costs excluded from minimum fixed lease payments)**			867			828			1,739			1,683
Sublease income			(96)			(217)			(216)			(477)
Net lease cost		$	7,921		$	8,131		$	15,425		$	16,366

*	No accelerated amortization was recorded in the three and six months ended June 30, 2025 or 2024.

**	No variable lease costs were accrued in the three and six months ended June 30, 2025 or 2024 for future estimated variable expenses related to certain assets partially or fully vacated with no intent or ability to sublease.

Other information related to the Company’s leases as of June 30, 2025 and December 31, 2024 was as follows (in thousands):


		June 30,		December 31,
		2025		2024
Weighted average remaining lease term (years):
Operating leases		7.23		5.35
Weighted average discount rate:
Operating leases		9.36	%	7.73	%

Schedule of future minimum fixed lease payments under noncancelable leases

Future minimum fixed lease payments under noncancelable leases at June 30, 2025 were as follows (in thousands):


		Operating
		leases
Remainder of 2025		$	8,504
2026			16,895
2027			15,642
2028			12,988
2029			10,593
2030 and beyond			38,063
Total lease payments			102,685
Less: interest			(29,806)
Present value of lease liabilities		$	72,879