v3.25.2
Leases (Tables)
 6 Months Ended
Jun. 30, 2025
Leases [Abstract]  
Schedule of Lease Costs

The following table presents the Company’s lease costs (in thousands):

 

   Three Months Ended
June 30,		   Six Months Ended
June 30,		 
   2025   2024   2025   2024 
Operating lease costs  $4,569   $5,178   $9,349   $9,964 
Variable lease costs   1,162    1,173    2,204    2,042 
Short term lease cost   63    
—
    105    
—
 
Sublease income   (637)   
—
    (932)   
—
 
Total lease costs  $5,157   $6,351   $10,726   $12,006 
Schedule of Operating Lease Liabilities

The table below reconciles the undiscounted cash flows for each of the first five years and total remaining years to the operating lease liabilities recorded on the unaudited condensed consolidated balance sheet at June 30, 2025 (in thousands):

 

2025 (excluding the six months ended June 30,2025)(a)  $10,860 
2026   22,242 
2027   19,702 
2028   19,525 
2029   16,820 
Thereafter   34,270 
Total operating lease payments   123,419 
Less – lease payments representing interest   (22,494)
Present value of operating lease payments  $100,925 

 

(a) Amount consists of $11.2 million of undiscounted cash flows offset by $0.3 million of tenant improvement allowances which are expected to be fully utilized in fiscal 2025.
Schedule of Supplemental Information Related to the Company’s Condensed Consolidated Statement of Cash Flows

The following table provides supplemental information related to the Company’s unaudited condensed consolidated statement of cash flows for the six months ended June 30, 2025, and 2024 (in thousands):

 

   Six Months Ended
June 30,		 
   2025   2024 
Cash paid for amounts included in present value of operating lease liabilities (b)  $7,318   $8,388 
Right-of-use assets obtained in exchange for operating lease liabilities   7,305    2,981 

 

  (b) Operating cash flows paid for operating leases are included within the change in operating leases, net within the unaudited condensed consolidated statement of cash flows offset by non-cash ROU asset amortization and lease liability accretion.