v3.26.1
LEASES (Tables)
 6 Months Ended
Jun. 30, 2026
Leases [Abstract]  
Schedule of Assets and Liabilities Related to Operating and Finance Leases
The following table presents the assets and liabilities related to the Company’s operating and finance leases as of June 30, 2026 and December 31, 2025:

(in thousands)
June 30, 2026
December 31, 2025
Assets
Balance Sheet Classification
Operating lease right-of-use (“ROU”) assetsOperating lease right-of-use assets$34,228 $32,324 
Finance lease ROU assets
Property and equipment, net2,832 2,847 
Total ROU assets
$37,060 $35,171 
Liabilities
Current portion:
Operating lease liabilities
Operating lease liabilities, current portion$3,338 $1,722 
Finance lease liability
Finance lease liability, current portion178 173 
Long-term portion:
Operating lease liabilitiesOperating lease liabilities, net of current portion40,766 39,714 
Finance lease liabilityFinance lease liability, net of current portion3,928 3,817 
Total lease liabilities$48,210 $45,426 
Schedule of Total Lease Expense and Leasing Activities
Lease costs are recorded on a straight-line basis within operating expenses. The Company’s total lease expenses are comprised of the following:

Three Months Ended June 30,
Six Months Ended June 30,
(in thousands)2026202520262025
Lease costs:
Operating lease cost$1,547 $1,521 $3,025 $2,533 
Finance lease cost:
Amortization of ROU asset (1)
8 8 15 15 
Interest on lease liabilities289 280 289 280 
Short-term lease rent expense15 127 79 272 
Variable lease cost52,150 19,231 74,432 41,513 
Total rent expense$54,009 $21,167 $77,840 $44,613 

(1) Amortization of finance lease ROU asset is included in “Depreciation and amortization” on the Condensed Consolidated Statements of Operations.
Additional information regarding the Company’s leasing activities is as follows:

Six Months Ended June 30,
20262025
Operating cash flows from operating leases$929$1,435
Operating cash flows from finance lease289280
Financing cash flows from finance lease173168
Weighted-average remaining lease term (in years):
Operating leases18.319.9
Finance lease94.895.8
Weighted-average discount rate:
Operating leases7.2 %7.2 %
Finance lease7.2 %7.2 %
Schedule of Future Minimum Operating Lease Payments
The following table presents the Company’s future minimum lease payments as of June 30, 2026:
 
(in thousands)
YearOperating LeasesFinance Lease
2026 (remaining)$2,888 $— 
20276,726 178 
20286,451 183 
20296,322 189 
20306,280 194 
Thereafter48,602 88,714 
Total77,269 89,458 
Less: Imputed interest (33,165)(85,352)
Present value of lease liability
$44,104 $4,106