Leases (Tables)

6 Months Ended

Jun. 30, 2026

Schedule of Balance Sheet Information Related to Leases

Leases are presented in our consolidated balance sheet as follows:


(in thousands)	Classification	As of June 30, 2026		As of December 31, 2025
Right-of-use Assets:
Operating leases	Operating lease right-of-use assets, net	$	41,244	$	42,218
Finance leases	Finance lease right-of-use assets, net	$	47,988	$	6,500

Lease liabilities:
Operating lease liabilities:
Current	Accrued liabilities	$	8,426	$	9,796
Noncurrent	Operating lease liabilities	39,833		39,391
Total operating lease liabilities		$	48,259	$	49,187

Finance lease liabilities:
Current	Accrued liabilities	$	2,621	$	2,224
Noncurrent	Finance lease liabilities	45,625		4,405
Total finance lease liabilities		$	48,246	$	6,629

Supplemental information related to the Company’s operating and finance leases were as follows:


	Six Months Ended June 30,
(in thousands, except years and percentages)	2026			2025
Other supplemental information:
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows - operating leases	$	13,132		$	13,710
Operating cash flows - finance leases	403			483

Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	5,389		$	3,346
Finance leases	42,568			9,938

Weighted-average remaining lease term:
Operating leases	6.2 years			5.7 years
Finance leases	18.1 years			3.4 years

Weighted-average discount rate:
Operating leases	8.8		%	9.3		%
Finance leases	5.7		%	6.4		%

Schedule of Components of Lease Expense and Operating Lease Supplemental Cash Flow Information

The components of total lease cost were as follows:


	Three Months Ended				Six Months Ended
	June 30,				June 30,
(in thousands)	2026		2025		2026		2025
Operating lease expense:
Operating lease expense	$	3,958	$	3,967	$	7,835	$	8,333
Short-term lease expense	875		1,388		1,804		2,990
Total operating lease expense	4,833		5,355		9,639		11,323

Finance lease expense:
Amortization of leased assets	648		666		1,163		8,334
Interest on lease liabilities	98		129		204		296
Total finance lease expense	746		795		1,367		8,630
Total lease expense	$	5,579	$	6,150	$	11,006	$	19,953

Schedule of Future Minimum Lease Payments, Operating Lease

Future minimum lease payments, under non-cancelable operating and finance leases with terms in excess of one year, as of June 30, 2026 are as follows:


(in thousands)	Operating leases		Finance leases
Year ended December 31,
Remainder of 2026	$	6,286	$	2,427
2027	11,119		5,602
2028	9,205		4,514
2029	8,744		3,944
2030	5,914		3,233
Thereafter	25,450		61,121
Total lease payments	66,718		80,841
Less: imputed interest	(18,459)		(32,595)
Total lease liabilities	$	48,259	$	48,246

Schedule of Future Minimum Lease Payments, Finance Lease

Future minimum lease payments, under non-cancelable operating and finance leases with terms in excess of one year, as of June 30, 2026 are as follows:


(in thousands)	Operating leases		Finance leases
Year ended December 31,
Remainder of 2026	$	6,286	$	2,427
2027	11,119		5,602
2028	9,205		4,514
2029	8,744		3,944
2030	5,914		3,233
Thereafter	25,450		61,121
Total lease payments	66,718		80,841
Less: imputed interest	(18,459)		(32,595)
Total lease liabilities	$	48,259	$	48,246