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

The components of lease expense were as follows:

 

 

Three Months Ended
March 31,

 

 

 

2026

 

 

2025

 

Operating Lease Cost

 

$

11,723

 

 

$

10,587

 

Variable Lease Cost

 

 

1,950

 

 

 

1,424

 

Sublease Income

 

 

(356

)

 

 

(203

)

Total Lease Cost

 

$

13,317

 

 

$

11,808

 

Schedule of Supplemental Information Related to Leases

Supplemental information related to the Company’s operating leases was as follows:

 

 

Three Months Ended March 31,

 

 

 

2026

 

 

2025

 

Cash Paid for Amounts Included in Measurement of Lease Liabilities

 

 

 

 

 

 

Operating Cash Flows from Operating Leases, Net

 

$

5,658

 

 

$

277

 

Right-of-Use Assets Obtained in Exchange for Operating Lease Liabilities

 

$

11,739

 

 

$

36,687

 

 

 

 

Three Months Ended March 31,

 

 

 

2026

 

 

2025

 

Weighted-Average Remaining Lease Term (in years)

 

 

13.5

 

 

 

14.4

 

Weighted-Average Discount Rate

 

 

6.9

%

 

 

6.9

%

 

Schedule of Maturity Analysis of Operating Lease Liabilities

The following is a maturity analysis of the annual undiscounted cash flows of the Company’s operating lease liabilities as of March 31, 2026:

Year Ending December 31,

 

 

 

2026 (April 1 through December 31)

 

$

25,065

 

2027

 

 

43,592

 

2028

 

 

51,566

 

2029

 

 

51,291

 

2030

 

 

47,324

 

Thereafter

 

 

454,588

 

Total Lease Payments

 

 

673,426

 

Less: Tenant Improvement Allowances

 

 

17,218

 

Less: Imputed Interest

 

 

234,709

 

Total

 

$

421,499