v3.25.4
LEASES (Tables)
12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Summary of Components of Lease Expense

For the year ended December 31, 2025 and December 31, 2024, the components of the Company’s lease expense were as follows (in thousands):

 

 

Year Ended December 31, 2025

 

 

Year Ended December 31, 2024

 

Operating Lease Cost

 

$

6,995

 

 

$

6,494

 

Short-term Lease Cost

 

 

126

 

 

 

136

 

Variable Lease Cost

 

 

440

 

 

 

382

 

Total Lease Cost

 

$

7,561

 

 

$

7,012

 

Summary of Supplemental Balance Sheet Information Related to Leases

Supplemental balance sheet information related to leases was as follows (in thousands):

 

 

Year Ended December 31, 2025

 

 

Year Ended December 31, 2024

 

Weighted-average remaining lease term (in years)

 

 

7.85

 

 

 

7.11

 

Weighted average discount rate

 

 

8.20

%

 

 

7.57

%

 

Summary of Future Undiscounted Cash Flows

Future undiscounted cash flows for each of the next five years and thereafter and reconciliation to the lease liabilities recognized on the consolidated balance sheet as of December 31, 2025 were as follows (in thousands):

 

2026

 

$

6,150

 

2027

 

 

5,036

 

2028

 

 

4,431

 

2029

 

 

3,655

 

2030

 

 

3,514

 

Thereafter

 

 

12,762

 

Total lease payments

 

$

35,548

 

Less: imputed interest

 

 

(9,719

)

Present value of lease liabilities

 

$

25,829