v3.26.1
Leases (Tables)
 3 Months Ended
Mar. 31, 2026
Leases [Abstract]  
Lease, Cost
Lease expense is included in office and technology expenses in the unaudited Consolidated Statements of Operations. Information regarding the Company’s leases is as follows:
Three Months Ended
March 31,
(in thousands)20262025
Operating leases$534 $667 
Finance leases:
Amortization of lease assets48 62 
Interest on lease liabilities4 — 
Lease expense$586 $729 
Sub-lease income(21)(43)
Lease cost$565 $686 
Lessee, Lease Liability, Current and Non-current
Components of the lease liability presented on the unaudited Consolidated Balance Sheets are as follows:
(in thousands)As of
March 31, 2026		As of
December 31, 2025
Current:
Operating lease liabilities$1,659 $1,548 
Finance lease liabilities150 130 
Non-current:
Operating lease liabilities6,694 6,116 
Finance lease liabilities188 256 
Total lease liabilities$8,691 $8,050 
Lessee, Lease Liability, Maturity
The future minimum lease payments for leases that have initial or remaining noncancelable lease terms in excess of one year as of March 31, 2026, are summarized as follows:
Year Ended (in thousands)Operating
Leases		Finance
Leases		Total
2026$1,459 $125 $1,584 
20271,744 129 1,873 
20281,347 74 1,421 
20291,266 19 1,285 
20301,176 10 1,186 
Thereafter2,484 — 2,484 
Total undiscounted payments$9,476 $357 $9,833 
Less: present value adjustment(1,123)(19)(1,142)
Lease liabilities$8,353 $338 $8,691 
Lease Other Information
Supplemental lease information is as follows:
As of
March 31, 2026		As of
December 31, 2025
Weighted average remaining lease term (years)
Operating leases6.116.38
Finance leases2.512.65
Weighted average discount rate
Operating leases4.0 %4.1 %
Finance leases4.5 %4.5 %