v3.26.1
Leases (Tables)
 6 Months Ended
Jun. 30, 2026
Leases [Abstract]  
Schedule of Operating Lease Costs

The components of operating lease costs were as follows (in thousands):

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Fixed lease cost (1)

 

$

2,731

 

 

$

4,126

 

 

$

6,114

 

 

$

8,296

 

Variable lease cost

 

 

540

 

 

 

1,244

 

 

 

1,402

 

 

 

2,416

 

Less: sublease income

 

 

(193

)

 

 

(2,216

)

 

 

(1,323

)

 

 

(4,336

)

Total operating lease cost

 

$

3,078

 

 

$

3,154

 

 

$

6,193

 

 

$

6,376

 

 

(1)
Includes short-term leases expensed on a straight-line basis.
Schedule of Supplemental Cash Flow Information arising from Lease Transactions

The following table presents supplemental cash flow information arising from lease transactions (in thousands):

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Cash payments included in the measurement of operating lease liabilities

 

$

2,913

 

 

$

4,102

 

 

$

5,818

 

 

$

8,521

 

ROU assets obtained in exchange for lease obligations

 

$

—

 

 

$

2,357

 

 

$

—

 

 

$

9,181

 
Schedule of Weighted-average Remaining Term of Operating Leases and Weighted-average of Discount Rate of Present Value of Operating Lease Liabilities

The weighted-average remaining term of the Company’s operating leases and the weighted-average discount rate used to measure the present value of the operating lease liabilities are as follows:

 

 

 

June 30, 2026

 

 

December 31, 2025

 

Weighted-average remaining lease term (in years)

 

 

4.2

 

 

 

4.4

 

Weighted-average discount rate

 

 

6.9

%

 

 

6.9

%
Schedule of Future Minimum Lease Payments and Related Lease Liabilities

Future minimum lease payments and related lease liabilities as of June 30, 2026 were as follows (in thousands):

 

Year Ending December 31:

 

Operating Lease Payments (1)

 

 

Sublease Income

 

 

Net Operating Lease Payments

 

2026 (remaining 6 months)

 

$

4,509

 

 

$

(218

)

 

$

4,291

 

2027

 

 

8,591

 

 

 

(368

)

 

 

8,223

 

2028

 

 

5,981

 

 

 

(379

)

 

 

5,602

 

2029

 

 

3,906

 

 

 

(291

)

 

 

3,615

 

2030

 

 

2,404

 

 

 

—

 

 

 

2,404

 

Thereafter

 

 

3,879

 

 

 

—

 

 

 

3,879

 

Total lease payments

 

 

29,270

 

 

$

(1,256

)

 

$

28,014

 

Less: imputed interest

 

 

(4,099

)

 

 

 

 

 

 

Present value of operating lease liabilities

 

$

25,171

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Less: operating lease liabilities, current portion

 

 

(7,513

)

 

 

 

 

 

 

Noncurrent operating lease liabilities

 

$

17,658

 

 

 

 

 

 

 
(1)
Future minimum lease payments exclude short-term leases as well as payments to landlords for variable common area maintenance, insurance, and real estate taxes.