The Company leases retail, office, optical laboratory, and distribution center space under operating leases from third parties. As of June 30, 2026, the total lease terms of the various leases range from 1 to 12 years. The leases generally contain renewal options and rent escalation clauses, and from time to time include contingent rent provisions. Renewal options are exercisable at the Company’s sole discretion and are included in the lease term if they are reasonably certain to be exercised. In general it is not reasonably certain that lease renewals will be exercised at lease commencement and as such, lease renewals are not included in the lease term.

Net lease expense consists of the following:


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Operating lease expense	$	10,611	$	9,443	$	20,780	$	18,799
Variable lease expense(1)	614		187		1,124		542
Net lease expense	$	11,225	$	9,630	$	21,904	$	19,341

The following table presents future lease payments:


	Operating Leases(1)
2026	$	24,791
2027	54,507
2028	56,019
2029	47,812
2030	36,541
Thereafter	82,667
Total undiscounted lease payments	302,337
Impact of discounting	51,358
Present value of lease payments	$	250,979

(1) The years 2026 and 2027 include $5.5 million and $5.5 million, respectively, of expected cash inflows from tenant improvement allowances. Operating lease payments exclude $10.5 million of legally binding minimum lease payments related to executed leases for which the Company has not yet taken possession of the leased premises.

The following tables present other relevant lease information:


	June 30, 2026
Weighted average remaining lease term (years)	6.1
Weighted average discount rate	5.8	%


	Six Months Ended June 30,
	2026		2025
Cash paid for amounts included in the measurement of operating lease liabilities	$	25,862	$	22,590
Lease assets obtained in exchange for new operating lease liabilities	$	31,659	$	12,682