v3.26.1
Leases
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Leases Leases
We have operating and finance leases for corporate and business offices, service facilities, call centers and certain equipment. Leases with an initial term of 12 months or less are generally not recorded on the balance sheet, unless the arrangement includes an option to purchase the underlying asset, or an option to renew the arrangement, that we are reasonably certain to exercise (short-term leases). Our leases have remaining lease terms of one year to seven years, some of which may include options to extend the leases for up to an additional five years.
As of December 31, 2025, assets recorded under finance and operating leases were approximately $0.6 million and $19.2 million respectively, and accumulated amortization associated with finance leases was $0.3 million. As of December 31, 2024, assets recorded under finance and operating leases were approximately $0.8 million and $21.7 million respectively, and accumulated depreciation associated with finance leases was $0.1 million. Operating lease right of use assets and lease liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. The discount rate used to determine the commencement date present value of lease payment is the interest rate implicit in the lease, or when that is not readily determinable, we utilized our incremental borrowing rate, which is the rate incurred to borrow on a collateralized basis over a similar term at an amount equal to the lease payments in a similar economic environment. Certain adjustments to the right-of-use asset may be required for items such as initial direct costs paid or incentives received.
There was no impairment of leases during the years ended December 31, 2025 and 2024.
The following tables present supplemental balance sheet information related to our financing and operating leases:
As of December 31, 2025As of December 31, 2024
In thousandsOperating LeasesFinance LeasesTotalOperating LeasesFinance LeasesTotal
Right-of-use Assets$19,247 $607 $19,854 $21,678 $782 $22,460 
Liabilities:
Short-term lease liabilities3,376 167 3,543 3,578 158 3,736 
Long-term lease liabilities18,400 461 18,861 20,235 625 20,860 
Total Lease Liabilities$21,776 $628 $22,404 $23,813 $783 $24,596 
For the years ended December 31, 2025 and 2024, the components of lease expense were as follows:
In thousandsYear Ended December 31, 2025Year Ended December 31, 2024
Operating lease cost$5,108 $5,315 
Finance lease cost
Amortization of right-of-use assets174 102 
Interest on lease liabilities55 31 
Total Finance lease cost229 133 
Variable lease cost1,484 1,875 
Sublease income— (368)
Total lease cost, net$6,821 $6,955 
Other information related to leases was as follows:
In thousandsYear Ended December 31, 2025Year Ended December 31, 2024
Supplemental Cash Flows Information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$8,742 $11,170 
Operating cash flows from finance leases51 28 
Financing cash flows from finance leases159 124 
Weighted Average Remaining Lease term (in years)
Operating leases5.556.38
Finance leases3.554.53
Weighted Average Discount Rate
Operating leases5.89%5.74%
Finance leases7.77%7.77%
The maturities of the Company’s finance and operating lease liabilities as of December 31, 2025 are as follows:
In thousandsOperating LeasesFinance Leases
Year Ending December 31,
2026$4,492 $207 
20274,524 206 
20284,525 206 
20294,568 98 
20304,485 — 
2031 & Beyond3,116 — 
Total future minimum lease payments25,710 717 
Less: Imputed interest3,934 89 
Total lease liabilities$21,776 $628 
As of December 31, 2025, we have no new operating leases that have not yet commenced.
Leases Leases
We have operating and finance leases for corporate and business offices, service facilities, call centers and certain equipment. Leases with an initial term of 12 months or less are generally not recorded on the balance sheet, unless the arrangement includes an option to purchase the underlying asset, or an option to renew the arrangement, that we are reasonably certain to exercise (short-term leases). Our leases have remaining lease terms of one year to seven years, some of which may include options to extend the leases for up to an additional five years.
As of December 31, 2025, assets recorded under finance and operating leases were approximately $0.6 million and $19.2 million respectively, and accumulated amortization associated with finance leases was $0.3 million. As of December 31, 2024, assets recorded under finance and operating leases were approximately $0.8 million and $21.7 million respectively, and accumulated depreciation associated with finance leases was $0.1 million. Operating lease right of use assets and lease liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. The discount rate used to determine the commencement date present value of lease payment is the interest rate implicit in the lease, or when that is not readily determinable, we utilized our incremental borrowing rate, which is the rate incurred to borrow on a collateralized basis over a similar term at an amount equal to the lease payments in a similar economic environment. Certain adjustments to the right-of-use asset may be required for items such as initial direct costs paid or incentives received.
There was no impairment of leases during the years ended December 31, 2025 and 2024.
The following tables present supplemental balance sheet information related to our financing and operating leases:
As of December 31, 2025As of December 31, 2024
In thousandsOperating LeasesFinance LeasesTotalOperating LeasesFinance LeasesTotal
Right-of-use Assets$19,247 $607 $19,854 $21,678 $782 $22,460 
Liabilities:
Short-term lease liabilities3,376 167 3,543 3,578 158 3,736 
Long-term lease liabilities18,400 461 18,861 20,235 625 20,860 
Total Lease Liabilities$21,776 $628 $22,404 $23,813 $783 $24,596 
For the years ended December 31, 2025 and 2024, the components of lease expense were as follows:
In thousandsYear Ended December 31, 2025Year Ended December 31, 2024
Operating lease cost$5,108 $5,315 
Finance lease cost
Amortization of right-of-use assets174 102 
Interest on lease liabilities55 31 
Total Finance lease cost229 133 
Variable lease cost1,484 1,875 
Sublease income— (368)
Total lease cost, net$6,821 $6,955 
Other information related to leases was as follows:
In thousandsYear Ended December 31, 2025Year Ended December 31, 2024
Supplemental Cash Flows Information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$8,742 $11,170 
Operating cash flows from finance leases51 28 
Financing cash flows from finance leases159 124 
Weighted Average Remaining Lease term (in years)
Operating leases5.556.38
Finance leases3.554.53
Weighted Average Discount Rate
Operating leases5.89%5.74%
Finance leases7.77%7.77%
The maturities of the Company’s finance and operating lease liabilities as of December 31, 2025 are as follows:
In thousandsOperating LeasesFinance Leases
Year Ending December 31,
2026$4,492 $207 
20274,524 206 
20284,525 206 
20294,568 98 
20304,485 — 
2031 & Beyond3,116 — 
Total future minimum lease payments25,710 717 
Less: Imputed interest3,934 89 
Total lease liabilities$21,776 $628 
As of December 31, 2025, we have no new operating leases that have not yet commenced.