v3.26.1
Leases (Tables)
 6 Months Ended
Jun. 30, 2026
Leases [Abstract]  
Schedule of Lease Costs

The following table presents the Company’s lease costs (in thousands):

 

    Three Months Ended
June 30,		     Six Months Ended
June 30,		  
    2026     2025     2026     2025  
Operating lease costs   $ 4,552     $ 4,569     $ 9,092     $ 9,349  
Variable lease costs     917       1,162       2,043       2,204  
Short term lease cost     111       63       221       105  
Sublease income     (1,169 )     (637 )     (2,431 )     (932 )
Total lease costs   $ 4,411     $ 5,157     $ 8,925     $ 10,726  
Schedule of Operating Lease Liabilities

The table below reconciles the undiscounted cash flows for each of the first five years and total remaining years to the operating lease liabilities recorded on the unaudited condensed consolidated balance sheet at June 30, 2026 (in thousands):

 

2026 (excluding the six months ended June 30, 2026)(1)   $ 8,715  
2027     21,495  
2028     21,192  
2029     18,418  
2030     12,626  
Thereafter     25,819  
Total operating lease payments     108,265  
Less – lease payments representing interest     (20,089 )
Present value of operating lease payments   $ 88,176  

 

(1) Amount consists of $9.3 million of undiscounted cash flows offset by $0.6 million of tenant improvement allowances which are expected to be fully utilized in fiscal 2026.
Schedule of Supplemental Information Related to the Company’s Unaudited Condensed Consolidated Statement of Cash Flows

The following table provides supplemental information related to the Company’s unaudited condensed consolidated statement of cash flows for the six months ended June 30, 2026 and 2025 (in thousands):

 

    Six Months Ended
June 30,		  
    2026     2025  
Cash paid for amounts included in present value of operating lease liabilities (1)   $ 11,040     $ 11,041  
Right-of-use assets obtained in exchange for operating lease liabilities     2,193       7,305  

 

(1) Operating cash flows paid for operating leases are included within the change in operating leases, net within the unaudited condensed consolidated statement of cash flows offset by non-cash ROU asset amortization and lease liability accretion.