v3.26.1
LEASES (Tables)
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Schedule of Lease Expense Operating lease expense was as follows (in thousands):
Year Ended December 31,
202520242023
Rent expense$11,191$11,993$13,016
Variable lease payments$448$365$280
Sublease income (1)
$5,233$4,023$4,053
(1) The Company entered into sublease agreements for certain leased office space, and the amounts were included in other expenses, net in the consolidated statement of operations.

Supplemental information related to the Company’s operating leases was as follows ($ in thousands):

As of December 31, 2025As of December 31, 2024
Weighted-average remaining lease term (in years)5.15.8
Weighted-average discount rate9.0 %9.1 %
Year Ended December 31,
202520242023
Operating lease right-of-use assets recognized in exchange for new operating lease obligations (1)
$(113)$(17,737)$(1,839)

(1) During the year ended December 31, 2025 and 2024, $0.1 million and $17.7 million of operating lease right-of-use assets and corresponding lease liability were derecognized as a result of early termination which was accounted for as a lease modification.
Schedule of Maturities of the Operating Lease Liabilities
Maturities of the Company’s operating lease liabilities as of December 31, 2025 were as follows (in thousands):

2026$10,085 
20278,629 
20285,924 
20296,022 
20306,022 
Thereafter5,521 
Total42,203 
Less: imputed interest(7,991)
Total operating lease liabilities$34,212