Leases (Tables)

6 Months Ended

Jun. 30, 2026

The following tables present our balance sheet information related to leases:


		As of		As of
(Amounts in thousands)	Balance Sheet Classification	June 30, 2026		December 31, 2025
Assets:
Operating lease assets	Operating lease, right-of-use assets	$	45,835	$	45,822
Finance lease assets	Property and equipment, net	$	47,879	$	34,259
Total lease assets		$	93,714	$	80,081
Liabilities:
Current:
Operating lease liabilities	Operating lease obligation, current portion	$	(12,557)	$	(11,951)
Finance lease liabilities	Finance lease obligation, current portion	$	(16,602)	$	(13,735)
Total current lease liabilities		$	(29,159)	$	(25,686)
Non-current:
Operating lease liabilities	Operating lease obligation, less current portion	$	(39,842)	$	(40,430)
Finance lease liabilities	Finance lease obligation, less current portion	$	(34,691)	$	(23,718)
Total non-current lease liabilities		$	(74,533)	$	(64,148)

The following tables present selected financial information:


	Three Months Ended				Six Months Ended
(Amounts in thousands)	June 30, 2026		June 30, 2025		June 30, 2026		June 30, 2025
Operating lease cost
Lease expense of right-of-use assets	$	3,903	$	3,613	$	7,720	$	7,154
Short-term and variable lease cost	—		—		1		—
Finance lease cost:
Amortization of right-of-use assets	4,090		3,128		8,416		6,124
Interest on lease liabilities	603		443		1,191		891
Sublease income	(7)		(31)		(14)		(58)
Total lease cost	$	8,589	$	7,153	$	17,314	$	14,111


	Six Months Ended
(Amounts in thousands)	June 30, 2026		June 30, 2025
Cash paid for amounts included in the measurements of lease liabilities
Operating cash flows from operating leases	$	7,821	$	7,221

Operating cash flows from finance leases	1,191		891
Financing cash flows from finance leases	7,943		5,600
Right-of-use assets obtained in exchange for new operating leases	7,111		5,835
Right-of-use assets obtained in exchange for new finance leases	22,385		10,166


	As of		As of
	June 30, 2026		December 31, 2025
Weighted average remaining lease term (in years):
Operating leases	4.41		4.59
Finance leases	3.02		2.72
Weighted average discount rates:
Operating leases	6.7	%	6.8	%
Finance leases	6.2	%	6.4	%

Future minimum commitments under leases for the remainder of 2026 and succeeding years are as follows (in thousands):


(Amounts in thousands)
	Operating Lease		Finance Lease
2026	$	8,004	$	9,160
2027	14,852		15,104
2028	13,543		11,920
2029	10,555		8,474
2030	6,721		1,908
Thereafter	7,014		–
Total lease payments	$	60,689	$	46,566
Less: Amounts representing interest	$	(8,301)	$	(5,592)
Total lease liabilities	$	52,388	$	40,974

Future minimum commitments under leases for the remainder of 2026 and succeeding years are as follows (in thousands):


(Amounts in thousands)
	Operating Lease		Finance Lease
2026	$	8,004	$	9,160
2027	14,852		15,104
2028	13,543		11,920
2029	10,555		8,474
2030	6,721		1,908
Thereafter	7,014		–
Total lease payments	$	60,689	$	46,566
Less: Amounts representing interest	$	(8,301)	$	(5,592)
Total lease liabilities	$	52,388	$	40,974