Leases (Tables)

6 Months Ended

Jun. 30, 2026

Leases [Abstract]

Summary of ROU Assets and Lease Liabilities

The following table shows the ROU assets and lease liabilities as of June 30, 2026 and December 31, 2025:


(in USD thousands)		June 30, 2026				December 31, 2025
ROU assets
Operating leases		$	161,292			$	166,684
Total ROU assets		$	161,292			$	166,684

Lease liabilities
Operating leases		$	205,140			$	188,395
Total lease liabilities		$	205,140			$	188,395

Schedule of Lease Costs

The Company’s lease costs are comprised of the following:


		Three Months Ended								Six Months Ended
		June 30,								June 30,
(in USD thousands)		2026				2025				2026				2025
Operating lease cost		$	11,394			$	2,714			$	22,138			$	2,714
Variable lease cost			22,607				11,694				41,457				11,694
Total lease expense		$	34,001			$	14,408			$	63,595			$	14,408

Schedule of Supplemental Lease Information

The following table presents supplemental lease information:


		Six Months Ended
		June 30,
(in USD thousands)		2026				2025
Operating cash outflows – operating leases		$	—			$	—


		Six Months Ended
		June 30,
		2026				2025
Weighted-average remaining lease term – operating leases (in years)			4.06				4.75
Weighted-average discount rate(1) – operating leases			6.34	%			6.42	%

(1) The Company’s operating leases implicit interest rate cannot be determined, therefore the Company uses the incremental borrowing rate at the lease commencement date in determining the present value of lease payments. The incremental borrowing rate represents an estimate of the interest rate the Company would incur at lease commencement to borrow an amount equal to the lease payments on a collateralized basis for similar assets over the term of the lease.

Future Minimum Operating Lease Payments

The following table presents the Company’s future minimum operating lease payments as of June 30, 2026:


		Operating
(in USD thousands)		Leases
Remainder of 2026		$	63,300
2027			45,041
2028			46,227
2029			47,449
2030			25,196
Thereafter			686
Total undiscounted lease payments			227,899
Less: present value discount			(22,759	)
Present value of operating lease liabilities		$	205,140