LEASES (Tables)

3 Months Ended

Mar. 31, 2026

Schedule of right-of-use lease assets and lease liabilities

The Company’s right-of-use lease assets and lease liabilities at March 31, 2026 and December 31, 2025 were as follows (in thousands):


				March 31,			December 31,
		Classification		2026			2025
Assets:
Operating lease assets		Operating lease right-of-use assets		$	44,010		$	46,240

Liabilities:
Current Operating		Operating lease liabilities		$	11,601		$	11,699
Non-Current Operating		Operating lease liabilities, net of current			57,042			60,159
Total Operating lease liabilities				$	68,643		$	71,858

Schedule of components of lease expense

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


	Three months ended
	March 31,			March 31,
	2026			2025
Operating lease cost*	$	3,690		$	3,225
Short-term lease cost		3,571			3,527
Variable lease costs (costs excluded from minimum fixed lease payments)**		1,514			872
Sublease income		(66)			(120)
Net lease cost	$	8,709		$	7,504

*	No accelerated amortization was recorded in the three months ended March 31, 2026 or 2025.

**	No variable lease costs were expensed in the three months ended March 31, 2026 or 2025 for future estimated variable expenses related to certain assets partially or fully vacated with no intent or ability to sublease.

Other information related to the Company’s leases as of March 31, 2026 and December 31, 2025 was as follows (in thousands):


		March 31,		December 31,
		2026		2025
Weighted average remaining lease term (years):
Operating leases		6.82		6.91
Weighted average discount rate:
Operating leases		9.51	%	9.50	%

Schedule of future minimum fixed lease payments under noncancelable leases

Future minimum fixed lease payments under noncancelable leases at March 31, 2026 were as follows (in thousands):


		Operating
		leases
Remainder of 2026		$	13,222
2027			16,561
2028			13,903
2029			11,547
2030			8,450
2031 and beyond			31,716
Total lease payments			95,399
Less: interest			(26,756)
Present value of lease liabilities		$	68,643