v3.25.3
Leases (Tables)
9 Months Ended
Sep. 30, 2025
Leases [Abstract]  
Components of Lease Costs

The components of the lease costs for the three and nine months ended September 30, 2025 and 2024, were as follows (in thousands):

 

 

 

Three Months Ended
September 30,

 

 

Nine Months Ended
September 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Operating lease costs

 

$

2,452

 

 

$

2,493

 

 

$

7,388

 

 

$

7,484

 

Finance lease costs:

 

 

 

 

 

 

 

 

 

 

 

 

Amortization of right-to-use assets, finance leases

 

 

440

 

 

 

314

 

 

 

1,186

 

 

 

1,109

 

Interest expense for finance lease liabilities

 

 

85

 

 

 

52

 

 

 

237

 

 

 

137

 

Variable lease costs

 

 

1,462

 

 

 

1,421

 

 

 

4,505

 

 

 

4,011

 

Total lease costs

 

$

4,439

 

 

$

4,280

 

 

$

13,316

 

 

$

12,741

 

Supplemental Cash Flow Information Relating to Leases

Supplemental cash flow information relating to the Company’s leases for the nine months ended September 30, 2025 and 2024, were as follows (in thousands):

 

 

 

Nine Months Ended
September 30,

 

 

 

2025

 

 

2024

 

Cash paid for amounts included in the measurement
   of lease liabilities:

 

 

 

 

 

 

Operating cash flows used in operating leases

 

$

9,031

 

 

$

6,570

 

Operating cash flows used in finance leases

 

$

1,077

 

 

$

1,010

 

Financing cash flows used in finance leases

 

$

237

 

 

$

137

 

Summary of Weighted Average Remaining Lease Terms and Discount Rates

Weighted average remaining lease terms and discount rates as of September 30, 2025 and 2024 were as follows:

 

 

 

Nine Months Ended
September 30,

 

 

 

2025

 

 

2024

 

Remaining lease term:

 

 

 

 

 

 

Operating lease

 

8.84 years

 

 

9.78 years

 

Finance lease

 

2.35 years

 

 

2.57 years

 

Discount Rate:

 

 

 

 

 

 

Operating lease

 

 

8.70

%

 

 

8.72

%

Finance lease

 

 

8.78

%

 

 

8.58

%

 

Summary of Undiscounted Future Lease Payments for Operating and Finance Leases

The undiscounted future lease payments for operating and finance leases as of September 30, 2025, were as follows (in thousands):

 

Fiscal Year

 

Operating
Leases

 

 

Finance
Leases

 

2025 (fourth quarter)

 

$

3,042

 

 

$

491

 

2026

 

 

12,436

 

 

 

1,885

 

2027

 

 

12,809

 

 

 

1,180

 

2028

 

 

13,193

 

 

 

449

 

2029

 

 

13,589

 

 

 

72

 

Thereafter

 

 

60,835

 

 

 

 

Total minimum lease payments

 

$

115,904

 

 

$

4,077

 

Less amounts representing interest or imputed interest

 

 

(35,601

)

 

 

(383

)

Present value of lease liabilities

 

$

80,303

 

 

$

3,694