v3.26.1
Operating Leases
6 Months Ended
Jun. 30, 2026
Leases [Abstract]  
Operating Leases
16.
Operating Leases

The Company has operating leases for corporate and medical offices. These leases have remaining lease terms ranging from 1 month to 20 years. These renewal terms may include options to extend the leases for up to 7 years and are included in the lease term when it is reasonably certain that the Company will exercise the options. Some lease terms may include options to terminate the leases within one year. These leases consist of fixed or variable payments. Variable lease payments are based on an index or a rate such as the Consumer Price Index.

Leases with an initial term of 12 months or less are not recorded on the accompanying condensed consolidated balance sheets.

Lease expense for the three months ended June 30, 2026 and 2025 were $4.9 million and $3.6 million, respectively, of which operating lease costs were $2.8 million and $2.0 million, respectively. Lease expense for the six months ended June 30, 2026 and 2025 were $9.9 million and $7.2 million, respectively, of which operating lease costs were $5.4 million and $4.0 million, respectively. The remaining amount primarily consisted of short-term lease costs.

Other information related to operating leases was as follows (dollars in thousands):

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Supplemental cash flow information

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash paid for operating lease liabilities

 

$

2,577

 

 

$

1,864

 

 

$

5,116

 

 

$

3,632

 

Right-of-use assets obtained in exchange for new operating lease obligations

 

$

2,445

 

 

$

1,381

 

 

$

2,795

 

 

$

7,110

 

 

 

 

June 30,

 

 

2026

 

 

2025

 

Weighted average remaining lease term

 

5.68 years

 

 

6.99 years

 

Weighted average discount rate

 

 

6.54

%

 

 

6.87

%

 

The following are future minimum lease payments under non-cancellable operating leases for the years ending December 31 (in thousands):

 

 

Operating
Leases

 

2026 (excluding the six months ended June 30, 2026)

 

$

5,948

 

2027

 

 

10,773

 

2028

 

 

9,841

 

2029

 

 

7,928

 

2030

 

 

5,638

 

Thereafter

 

 

12,127

 

 

 

 

 

Total future minimum lease payments

 

 

52,255

 

Less: imputed interest

 

 

9,342

 

Total lease liabilities

 

 

42,913

 

Less: current portion

 

 

8,938

 

Long-term lease liabilities

 

$

33,975