v3.26.1
Leases
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Leases Leases
The Company has operating leases for office space leased in various buildings for its own use. The Company's leases have original terms ranging from 5 to 10 years. The Company's lease agreements do not contain any residual value guarantees or material restrictive covenants. Lease costs related to the Company's operating leases are primarily reflected in "cost of revenue" in the consolidated statements of operations, as they are a reimbursable cost under the Company's respective asset management agreements. (See Note 13 for additional information).
The following table summarizes operating lease costs, by type (in thousands):
Year Ended December 31,
20252024
Operating lease costs
Fixed lease costs$1,186 $1,186 
Variable lease costs394 392 
Total operating lease costs$1,580 $1,578 
The following table presents supplemental cash flow information related to the Company's operating leases (in thousands):
Year Ended December 31,
20252024
Cash paid for lease liabilities:
Operating cash flows from operating leases$1,593 $1,559 
As of December 31, 2025, the Company's operating leases had a weighted-average remaining lease term of 4.8 years and a weighted-average discount rate of 4.65%.
The following table summarizes future lease liability payments (in thousands):
Year Ending December 31, Operating Leases
2026$1,222 
20271,204 
20281,233 
20291,262 
20301,073 
Thereafter— 
Total future lease payments5,994 
Imputed interest(644)
Total lease liabilities$5,350 
As of December 31, 2025, the Company does not have any liabilities related to leases that have not yet commenced.