v3.26.1
Leases (Tables)
6 Months Ended
Jun. 30, 2026
Leases [Abstract]  
Schedule of Lease Expense Included in Unaudited Condensed Consolidated Statements of Operations

The following is a summary of our lease expense included in the Unaudited Condensed Consolidated Statements of Operations (in thousands):

 

 

For the Three Months
Ended June 30,

 

 

For the Six Months
 Ended June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Operating lease cost(1)

 

$

10,620

 

 

$

9,078

 

 

$

24,137

 

 

$

18,070

 

Financing lease cost:

 

 

 

 

 

 

 

 

 

 

 

 

Amortization of leased assets

 

 

13

 

 

 

14

 

 

 

26

 

 

 

28

 

Interest on lease liabilities

 

 

1

 

 

 

2

 

 

 

2

 

 

 

5

 

Total lease cost

 

$

10,634

 

 

$

9,094

 

 

$

24,165

 

 

$

18,103

 

(1) Includes short-term lease cost of $6.0 million and $15.1 million, respectively, for the three- and six-month periods ended June 30, 2026 and $4.5 million and $9.0 million, respectively, for the prior-year periods.

Schedule of Other Information Regarding Leases

Other information regarding our leases is as follows (in thousands, except lease terms and discount rates):

 

 

For the Six Months
 Ended June 30,

 

 

 

2026

 

 

2025

 

Supplemental cash flow information

 

 

 

 

 

 

Cash paid for amounts included in measurement of lease liabilities:

 

 

 

 

 

 

Operating cash flows used in operating leases

 

$

9,660

 

 

$

9,408

 

Operating cash flows used in financing leases

 

$

2

 

 

$

5

 

Financing cash flows used in financing leases

 

$

24

 

 

$

 

Non-cash items:

 

 

 

 

 

 

Operating leases obtained

 

$

1,661

 

 

$

1,055

 

Financing leases obtained

 

$

 

 

$

 

Weighted average remaining lease term

 

 

 

 

 

 

Operating leases

 

5 years

 

 

5 years

 

Financing leases

 

Less than one year

 

 

2 years

 

Weighted average discount rate

 

 

 

 

 

 

Operating leases

 

 

7.1

%

 

 

6.9

%

Financing leases

 

 

9.1

%

 

 

9.1

%

 

Schedule of Annual Future Minimum Lease Payments

Annual future minimum lease payments as of June 30, 2026 (in thousands):

Years ending December 31,

 

Operating
Leases

 

 

Financing
Leases

 

2026 (period from July 1 to December 31)

 

$

9,001

 

 

$

40

 

2027

 

 

17,760

 

 

 

15

 

2028

 

 

15,228

 

 

 

 

2029

 

 

13,440

 

 

 

 

2030

 

 

9,582

 

 

 

 

Thereafter

 

 

10,592

 

 

 

 

Total future minimum lease payments

 

 

75,603

 

 

 

55

 

Less: Amount representing interest

 

 

(11,516

)

 

 

(1

)

Present value of net minimum lease payments

 

$

64,087

 

 

$

54

 

Reported as of June 30, 2026

 

 

 

 

 

 

Accrued liabilities

 

$

14,022

 

 

$

54

 

Non-current operating lease liabilities

 

 

50,065

 

 

 

 

Total lease liabilities

 

$

64,087

 

 

$

54