We have non-cancelable operating leases for our corporate offices in Tel Aviv, Israel and in New York, New York in the United States. The leases for these facilities in Tel Aviv and New York expire in 2031 and 2029, respectively and we have options to renew these leases through 2036 and 2034, respectively. These renewal options are excluded from the calculation of operating lease ROU assets and operating lease liabilities. We sublease a portion of our office space in Tel Aviv and New York.


	Year Ended December 31,
	2025		2024		2023
	(in thousands)
Operating lease cost	$	5,316	$	5,756	$	6,242
Variable lease cost	1,419		1,186		1,010
Short-term lease cost	346		118		170
Sublease income	(1,574)		(1,805)		(1,347)
Total operating lease cost	$	5,507	$	5,255	$	6,075

As of December 31, 2025, the weighted average remaining lease term and the weighted average discount rate for our operating leases were 4.5 years and 4.6%, respectively. As of December 31, 2024, the weighted average remaining lease term and the weighted average discount rate for our operating leases were 5.5 years and 4.6%, respectively.

The future minimum lease payments included in the measurement of our operating lease liabilities as of December 31, 2025, were as follows:


	Amount
Year Ending December 31,
2026	$	6,190
2027	6,235
2028	6,282
2029	4,945
2030	3,579
Thereafter	352
Total undiscounted lease payments	27,583
Less: imputed interest	(2,561)
Present value of operating lease liabilities	$	25,022


	As of December 31,
	2025		2024
	(in thousands)
Israel	$	13,786	$	16,074
United States	7,417		9,236
Total operating lease right-of-use assets	$	21,203	$	25,310

Excluded from the tables above is an unsecured and undated promissory note issued in December 2020 in connection with the execution of a lease agreement for an amount of $3.3 million and $2.9 million as of December 31, 2025 and 2024, respectively. The promissory note may only be withdrawn in the event of a material and fundamental breach of the lease agreement. The promissory note expires three months after the lease termination date. As of December 31, 2025 and 2024, we were in full compliance of the terms and conditions of the promissory note, and the promissory note has not been withdrawn.