v3.26.1
Commitments and Contingencies (Tables)
 6 Months Ended
Jun. 30, 2026
Commitments and Contingencies Disclosure [Abstract]  
Summary of Balance Sheet Classification of Operating Lease Liabilities

The balance sheet classification of the Company’s operating lease liabilities was as follows:

 

 

 

June 30,

 

 

December 31,

 

 

 

2026

 

 

2025

 

 

 

(in thousands)

 

Operating lease liabilities:

 

 

 

 

 

 

   Operating lease liability – current

 

$

16,753

 

 

$

16,468

 

   Operating lease liability – noncurrent

 

 

137,741

 

 

 

142,234

 

      Total operating lease liabilities

 

$

154,494

 

 

$

158,702

 

 
Summary of Components of Lease Costs

The components of lease costs for the three and six months ended June 30, 2026 and 2025 were as follows (in thousands):

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

 

 

(in thousands)

 

 

(in thousands)

 

Operating lease cost

 

$

5,301

 

 

$

4,262

 

 

$

10,688

 

 

$

9,085

 

Less: Sublease income

 

 

(1,185

)

 

 

(610

)

 

 

(2,369

)

 

 

(1,878

)

   Total operating lease cost, net(1)

 

$

4,116

 

 

$

3,652

 

 

$

8,319

 

 

$

7,207

 

(1) Net lease cost does not include short-term lease and variable lease costs, which were immaterial.
Schedule of Maturities of Operating Lease Liabilities

As of June 30, 2026, the maturities of the Company’s operating lease liabilities were as follows (in thousands):

 

2026 (remaining six months)

 

$

10,671

 

2027

 

 

20,210

 

2028

 

 

21,861

 

2029

 

 

22,626

 

2030

 

 

23,418

 

Thereafter

 

 

129,936

 

Total undiscounted lease payments

 

$

228,722

 

Less: Imputed interest

 

 

(70,158

)

Less: Lease receivable

 

 

(4,070

)

      Total operating lease liabilities

 

$

154,494