Leases (Tables)

6 Months Ended

Jun. 30, 2025

Leases [Abstract]

Summary of Lease Expense

The elements of lease expense were as follows:


		Three Months Ended June 30,								Six Months Ended June 30,
(in thousands)		2025				2024				2025				2024
Operating lease cost		$	13,085			$	1,951			$	15,036			$	3,902
Variable lease cost			774				679				1,485				1,209
Total lease cost		$	13,859			$	2,630			$	16,521			$	5,111

Summary of Amounts Reported in Condensed Consolidated Balance Sheets and Weighted-average Lease Term and Discount rate Information

Amounts reported in the condensed consolidated balance sheets and the weighted-average lease term and discount rate information were as follows:


(in thousands except weighted-average amounts)		June 30, 2025					December 31, 2024
Assets
Operating lease right-of-use assets		$		24			$		35,007
Liabilities
Operating lease liabilities, current		$		—			$		4,215
Operating lease liabilities, non-current				—					27,615
Total lease liabilities		$		—			$		31,830
Weighted-Average Lease Term and Discount Rate
Weighted-average remaining lease term (years)				0.1				5.7
Weighted-average discount rate				7.0	%				8.2	%

Summary of Other Lease Activity

The following table represents other lease activity:


		Six Months Ended June 30,
(in thousands)		2025				2024
Other Information
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases		$	11,884			$	3,258