Operating Leases |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Leases [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Operating Leases | Operating Leases The Company has various operating leases for fulfillment, pharmacy, and corporate facilities with lease periods expiring between fiscal years 2027 and 2041, including renewal options the Company is reasonably certain to exercise. The operating lease agreements provide for rental payments on a graduated basis and for options to renew, which could increase future minimum lease payments if exercised. The Company utilizes the reasonably certain threshold criteria in determining which options it will exercise. During the six months ended June 30, 2026, the Company executed or acquired new operating leases, resulting in aggregate additional operating lease right-of-use (“ROU”) assets of $25.6 million, including initial direct costs, along with a corresponding increase of $25.1 million to operating lease liabilities. These amounts are based on the exchange rates on the lease commencement dates, as applicable. Additionally, there were remeasurements of existing operating lease liabilities during the six months ended June 30, 2026 which resulted in an aggregate adjustment of $8.2 million to the carrying amount of the corresponding ROU assets. For the three months ended June 30, 2026 and 2025, the Company recorded operating lease costs of $5.6 million and $3.6 million, respectively, including variable operating lease costs of $0.5 million and $0.2 million, respectively. For the six months ended June 30, 2026 and 2025, the Company recorded operating lease costs of $10.6 million and $4.9 million, respectively, including variable operating lease costs of $0.9 million and $0.3 million, respectively. For the six months ended June 30, 2026 and 2025, operating cash flows used for operating leases were $4.9 million and $1.8 million, respectively. As of June 30, 2026, the weighted average remaining lease term and weighted average discount rate, including for renewal options the Company is reasonably certain to exercise, was 11.8 years and 6.1%, respectively. Future minimum lease payments under the Company's non-cancelable operating leases with an initial lease term in excess of one year subsequent to June 30, 2026 are as follows (in thousands):
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||