v3.26.1
LEASES (Tables)
 6 Months Ended
Jun. 30, 2026
Leases [Abstract]  
Summary of Components of Lease Expense

For the three and six months ended June 30, 2026, the components of the Company’s lease expense were as follows (in thousands):

 

 

 

Three months ended June 30,

 

 

2026

 

 

2025

 

Operating lease cost

 

$

1,736

 

 

$

1,737

 

Short-term lease cost

 

 

33

 

 

 

31

 

Variable lease cost

 

 

174

 

 

 

110

 

Total Lease Cost

 

$

1,943

 

 

$

1,878

 

 

 

 

Six months ended June 30,

 

 

2026

 

 

2025

 

Operating lease cost

 

$

3,459

 

 

$

3,476

 

Short-term lease cost

 

 

65

 

 

 

63

 

Variable lease cost

 

 

326

 

 

 

219

 

Total Lease Cost

 

$

3,850

 

 

$

3,758

 
Summary of Supplemental Balance Sheet Information Related to Leases

Supplemental balance sheet information related to leases was as follows (in thousands):

 

 

2026

 

 

2025

 

Weighted-average remaining lease term (in years)

 

 

7.48

 

 

 

6.89

 

Weighted average discount rate

 

 

8.23

%

 

 

7.95

%
Summary of Future Undiscounted Cash Flows

Future undiscounted cash flows for each of the next five years and thereafter and reconciliation to the lease liabilities recognized on the unaudited condensed consolidated balance sheet as of June 30, 2026 were as follows (in thousands):

 

 

 

 

 

2026

 

$

3,309

 

2027

 

 

5,483

 

2028

 

 

4,812

 

2029

 

 

4,043

 

2030

 

 

3,809

 

Thereafter

 

 

12,731

 

Total lease payments

 

$

34,187

 

Less: imputed interest

 

 

(8,996

)

Present value of lease liabilities

 

$

25,191