Leases

3 Months Ended

Mar. 31, 2026

Operating lease assets and lease liabilities as reported on the condensed consolidated balance sheets are as follows (dollars in thousands):


	Balance Sheet Classification	March 31, 2026		December 31, 2025
		(unaudited)
Assets
Operating lease assets	Other assets	$	26,397	$	26,712
Total lease assets		$	26,397	$	26,712

Liabilities
Operating lease liabilities, current portion	Accounts payable and accrued liabilities	$	10,636	$	10,612
Operating lease liabilities, long-term	Operating lease liabilities, long-term	30,267		30,365
Total lease liabilities		$	40,903	$	40,977

Supplemental cash flow information related to leases is as follows (dollars in thousands):


	Three Months Ended March 31,
	2026		2025
	(unaudited)
Cash paid for operating leases	$	4,098	$	3,892
Lease assets obtained for new operating leases	1,942		—

Lease obtained from Sage Acquisition

As part of the Sage Acquisition, the Company acquired a lease for office space located in a multi-tenant building located in Cambridge, Massachusetts and classified this as an operating lease. Sages's office space lease term continues through February 28, 2030 unless terminated earlier in accordance with the terms of the lease. The lease includes an option to extend the lease for an additional five-year period.