The Company leases its corporate offices, retail spaces and authentication centers under various noncancelable operating leases with terms ranging from one year to fifteen years.

The Company recorded operating lease costs of $5.8 million and $5.3 million for the three months ended June 30, 2026 and 2025, respectively, and $11.5 million and $10.6 million for the six months ended June 30, 2026 and 2025, respectively. The Company also incurred $1.3 million of variable lease costs for the three months ended June 30, 2026 and 2025, and $2.8 million and $2.7 million of variable lease costs for the six months ended June 30, 2026 and 2025, respectively. The variable lease costs are comprised primarily of the Company’s proportionate share of operating expenses, property taxes and insurance.

Maturities of operating lease liabilities by fiscal year for the Company’s operating leases are as follows (in thousands):


Fiscal Year	Amount
Remainder of 2026	$	13,843
2027	29,024
2028	25,325
2029	15,877
2030	10,823
Thereafter	14,091
Total future minimum payments	$	108,983
Less: Imputed interest	(21,484)
Present value of operating lease liabilities	$	87,499


	Six Months Ended June 30,
	2026		2025
Operating cash flows used for operating leases	$	13,615	$	14,221
Operating lease assets obtained in exchange for operating lease liabilities (including remeasurement of right-of-use assets and lease liabilities due to lease modifications)	$	7,161	$	2,637

The Company has leases for certain vehicles and equipment that are classified as finance leases. The finance lease right-of-use asset and finance lease liabilities for these vehicle and equipment leases are immaterial as of June 30, 2026 and December 31, 2025.