v3.26.1
Leases
6 Months Ended
Jun. 30, 2026
Leases [Abstract]  
Leases
7. Leases
We have operating leases primarily for rented office space. The leases have remaining lease terms of one to six years, some of which include options to extend the lease for up to an additional six years. Our leases do not contain any residual value guarantee.
The following table presents various components of the lease costs (in thousands):
Operating LeasesThree Months Ended June 30,Six Months Ended June 30,
2026202520262025
Operating lease cost$3,451 $3,181 $7,207 $6,289 
Short-term lease cost327 153 683 283 
Variable lease cost1,018 1,228 1,977 2,531 
    Total lease cost
$4,796 $4,562 $9,867 $9,103 
The weighted-average remaining term of our operating leases and the weighted-average discount rate used to measure the present value of the operating lease liabilities are as follows:
Lease Term and Discount RateJune 30, 2026June 30, 2025
Weighted-average remaining lease term (in years)3.63.9
Weighted-average discount rate8.0 %8.9 %
The following table presents supplemental information arising from lease transactions. Cash payments related to short-term leases are not included in the measurement of the operating lease liabilities, and as such, are excluded from the amounts below (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
Supplemental Cash Flow Information:2026202520262025
Cash payments included in the measurement of operating lease liabilities, net of tenant allowance receipts
$3,390 $3,715 $6,687 $4,752 
As of June 30, 2026, maturities of the operating lease liabilities are as follows (in thousands):
Operating Leases
Remainder of 2026$5,263 
202712,036 
202811,042 
20295,942 
20303,492 
Thereafter2,503 
Total lease payments40,278 
Less: imputed interest(5,684)
Present value of operating lease liabilities$34,594 
As of June 30, 2026, there were $6.4 million future payments related to signed leases that have not yet commenced.