v3.25.4
Leases
12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Leases Leases
The Company leases real estate property under operating leases. The Company leases office space in California, Michigan, Malaysia, Japan, Taiwan, the Netherlands, Finland, India, and Ukraine all under non-cancellable operating leases with various expiration dates through May 2029.
The remaining lease terms vary from a few months to 4 years. For certain of its leases, the Company has options to extend the lease term for periods varying from one to 5 years. These renewal options are not considered in the remaining lease term unless it is reasonably certain that the Company will exercise such options. The Company also has variable lease payments that are primarily composed of common area maintenance and utility charges.
The table below presents the lease-related assets and liabilities recorded on the consolidated balance sheets as of December 31, 2025 and 2024:
As of
December 31, 2025December 31, 2024
(in thousands)
Right-of-use assets$4,089$6,569
Lease liabilities included in accrued expenses and other current liabilities2,4782,744
Lease liabilities included in other non-current liabilities1,1323,488
Total operating lease liabilities$3,610$6,232
Weighted-average remaining lease term (years)1.62.4
Weighted-average discount rate5.3 %5.1 %
The table below presents certain information related to the lease costs for operating leases for the years ended December 31, 2025, 2024, and 2023:
Year Ended December 31,
202520242023
(in thousands)
Operating lease cost$3,261 $3,098 $3,024 
Short-term lease cost1,567 1,038 758 
Variable lease cost3,312 1,481 1,022 
Total lease cost$8,140 $5,617 $4,804 
Cash paid for operating lease liabilities was $3.4 million, $3.1 million, and $3.1 million for the years ended December 31, 2025, 2024, and 2023 respectively.
Operating Lease Cash Flows
The table below reconciles the undiscounted cash flows for each of the first five years and total of the remaining years, as applicable, to the operating lease liabilities recorded on the consolidated balance sheet as of December 31, 2025:
(in thousands)
2026$2,760 
2027720 
2028225 
202983 
Total minimum lease payments3,788 
Less: amount of lease payments representing interest(178)
Present value of future minimum lease payments3,610 
Less: current obligations under leases(2,478)
Long-term lease liabilities$1,132