v3.26.1
Leases
 3 Months Ended
Mar. 31, 2026
Leases [Abstract]  
Leases Leases
The Company leases office space in Canada, Germany, Spain, the U.K. and the U.S. Our leases have remaining lease terms ranging from less than one year to up to five years.
The following table summarizes the components of lease expense for the three months ended March 31, 2026 and 2025 (in thousands):
Three Months Ended
March 31,
20262025
Operating lease cost$504 $552 
Short-term lease cost239 140 
Variable lease cost240 114 
    Total lease cost$983 $806 
Cash payments against the operating lease liabilities totaled $845,000 and $861,000 for the three months ended March 31, 2026 and 2025. ROU assets obtained in exchange for lease obligations was $1.2 million and $321,000 for the three months ended March 31, 2026 and 2025, respectively.

The following table summarizes the presentation in our condensed consolidated balance sheets of our operating leases (in thousands):
March 31, 2026December 31, 2025
Assets:
Operating lease right-of-use assets$4,793 $4,047 
Liabilities:
Operating lease liabilities$2,116 $1,811 
Long-term operating lease liabilities4,507 4,184 
Total operating lease liabilities$6,623 $5,995 
Weighted average remaining lease term (years)3.473.84
Weighted average discount rate4.4 %4.1 %

Maturities of lease liabilities were as follows (in thousands):
Years ending December 31,
2026$2,343 
20272,044 
20281,738 
20291,495 
2030225 
    Total lease payments7,845 
Less interest(1,222)
    Present value of operating lease liabilities$6,623