v3.26.1
LEASES
6 Months Ended
Jun. 30, 2026
Leases [Abstract]  
LEASES LEASES
The Company has operating leases for real estate and equipment with an option to renew the leases for up to one month to five years. Some of the leases include the option to terminate the leases upon a specified notice period with a penalty. The Company’s leases have various remaining lease terms ranging from approximately seven months to approximately nine years.

The components of lease expense and supplemental balance sheet information were as follows (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Operating lease expense related to ROU assets and liabilities$1,329 $1,230 $2,678 $2,421 
Other lease expense245 296 422 485 
Total lease expense$1,574 $1,526 $3,100 $2,906 

Other information related to leases was as follows (in thousands):
Supplemental Balance Sheet InformationJune 30, 2026December 31, 2025
Operating lease right-of-use assets, noncurrent$19,695 $21,371 
June 30, 2026December 31, 2025
Operating lease liabilities, current$4,355 $4,984 
Operating lease liabilities, noncurrent16,600 18,843 
Total operating lease liabilities$20,955 $23,827 

As of June 30, 2026, the Company has four additional operating leases with an aggregate net present value of $4.6 million that will commence between July 2026 and November 2026.

Weighted Average Remaining Lease TermYears
Operating leases6.5
Weighted Average Discount Rate
Operating leases7.4 %

Maturities of operating lease liabilities as of June 30, 2026 were as follows (in thousands):
Year Ending June 30,
2027$3,407 
20284,288 
20293,967 
20302,922 
20312,103 
Thereafter10,443 
Total future undiscounted lease payments27,130 
Less imputed interest(6,175)
Total$20,955 

For the three months ended June 30, 2026 and 2025, the Company paid $1.6 million and $1.5 million, respectively, for operating lease liabilities. For the six months ended June 30, 2026 and 2025, the Company paid $3.2 million and $3.0 million, respectively, for operating lease liabilities.