v3.26.1
Leases
 6 Months Ended
Jun. 30, 2026
Leases [Abstract]  
Leases Leases
Operating lease cost is recognized on a straight-line basis over the lease term. Finance lease cost is recognized as a combination of the amortization expense for the right-of-use assets and interest expense for the outstanding lease liabilities, and results in a front-loaded expense pattern over the lease term. Short-term and variable lease costs are not material to the Company’s condensed consolidated financial statements.
The components of lease cost were as follows (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Operating lease cost$2,541 $2,646 $5,051 $5,013 
Finance lease cost45 46 90 92 
Total lease cost$2,586 $2,692 $5,141 $5,105 
As of June 30, 2026, a weighted average discount rate of 5.43% and 2.24% has been applied to the remaining operating and finance lease payments, respectively, to calculate the lease liabilities included within the condensed consolidated balance sheets. The weighted average remaining lease term of operating and finance leases is 7.3 and 1.8 years, respectively, as of June 30, 2026.
As of June 30, 2026, the maturities of lease liabilities under operating and finance leases were as follows (in thousands):
Operating LeasesFinance LeasesTotal
Remainder of 2026$4,858 $77 $4,935 
20279,871 158 10,029 
20286,464 40 6,504 
20294,855 — 4,855 
20304,068 — 4,068 
Thereafter20,383 — 20,383 
Total minimum lease payments50,499 275 50,774 
Less: imputed interest(9,862)(5)(9,867)
Total present value of lease liabilities$40,637 $270 $40,907 
Leases Leases
Operating lease cost is recognized on a straight-line basis over the lease term. Finance lease cost is recognized as a combination of the amortization expense for the right-of-use assets and interest expense for the outstanding lease liabilities, and results in a front-loaded expense pattern over the lease term. Short-term and variable lease costs are not material to the Company’s condensed consolidated financial statements.
The components of lease cost were as follows (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Operating lease cost$2,541 $2,646 $5,051 $5,013 
Finance lease cost45 46 90 92 
Total lease cost$2,586 $2,692 $5,141 $5,105 
As of June 30, 2026, a weighted average discount rate of 5.43% and 2.24% has been applied to the remaining operating and finance lease payments, respectively, to calculate the lease liabilities included within the condensed consolidated balance sheets. The weighted average remaining lease term of operating and finance leases is 7.3 and 1.8 years, respectively, as of June 30, 2026.
As of June 30, 2026, the maturities of lease liabilities under operating and finance leases were as follows (in thousands):
Operating LeasesFinance LeasesTotal
Remainder of 2026$4,858 $77 $4,935 
20279,871 158 10,029 
20286,464 40 6,504 
20294,855 — 4,855 
20304,068 — 4,068 
Thereafter20,383 — 20,383 
Total minimum lease payments50,499 275 50,774 
Less: imputed interest(9,862)(5)(9,867)
Total present value of lease liabilities$40,637 $270 $40,907