v3.26.1
Leases (Tables)
3 Months Ended
Mar. 31, 2026
Leases [Abstract]  
Components of Lease Costs

The components of the lease costs for the three months ended March 31, 2026 and 2025, were as follows (in thousands):

 

 

 

Three Months Ended
March 31,

 

 

 

2026

 

 

2025

 

Operating lease costs

 

$

2,429

 

 

$

2,473

 

Finance lease costs:

 

 

 

 

 

 

Amortization of right-to-use assets, finance leases

 

 

430

 

 

 

371

 

Interest expense for finance lease liabilities

 

 

66

 

 

 

77

 

Variable lease costs

 

 

1,374

 

 

 

1,494

 

Total lease costs

 

$

4,299

 

 

$

4,415

 

Supplemental Cash Flow Information Relating to Leases

Supplemental cash flow information relating to the Company’s leases for the three months ended March 31, 2026 and 2025, were as follows (in thousands):

 

 

 

Three Months Ended
March 31,

 

 

 

2026

 

 

2025

 

Cash paid for amounts included in the measurement
   of lease liabilities:

 

 

 

 

 

 

Operating cash flows used in operating leases

 

$

3,042

 

 

$

2,954

 

Operating cash flows used in finance leases

 

$

426

 

 

$

299

 

Financing cash flows used in finance leases

 

$

66

 

 

$

77

 

Summary of Weighted Average Remaining Lease Terms and Discount Rates

Weighted average remaining lease terms and discount rates as of March 31, 2026 and 2025 were as follows:

 

 

 

March 31,

 

 

 

2026

 

 

2025

 

Remaining lease term:

 

 

 

 

 

 

Operating lease

 

8.37 years

 

 

9.31 years

 

Finance lease

 

1.95 years

 

 

2.54 years

 

Discount Rate:

 

 

 

 

 

 

Operating lease

 

 

8.69

%

 

 

8.71

%

Finance lease

 

 

8.82

%

 

 

8.68

%

Summary of Undiscounted Future Lease Payments for Operating and Finance Leases

The undiscounted future lease payments for operating and finance leases as of March 31, 2026, were as follows (in thousands):

 

Fiscal Year

 

Operating
Leases

 

 

Finance
Leases

 

2026 (excluding the first quarter)

 

$

9,394

 

 

$

1,394

 

2027

 

 

12,809

 

 

 

1,180

 

2028

 

 

13,193

 

 

 

449

 

2029

 

 

13,589

 

 

 

72

 

2030

 

 

11,534

 

 

 

 

Thereafter

 

 

49,300

 

 

 

 

Total minimum lease payments

 

$

109,819

 

 

$

3,095

 

Less amounts representing interest or imputed interest

 

 

(32,202

)

 

 

(243

)

Present value of lease liabilities

 

$

77,617

 

 

$

2,852