The Company leases office space and equipment under non-cancelable operating leases, which may include renewal or termination options that are reasonably certain of exercise. Most leases include one or more options to renew, and the exercise of lease renewal options is at the Company’s sole discretion. Certain of the Company’s lease agreements include rental payments that are adjusted periodically for inflation. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. The Company also subleases office space to third parties under separate sublease agreements, which are generally month-to-month leases.

In accordance with ASC 842 - Leases, the Company uses its incremental borrowing rate on the commencement date to determine the present value of its lease payments. The discount rate used to measure the lease asset, and the liability is determined at the beginning of the lease term, using the rate implicit in the lease if readily determinable, or otherwise using the Company's collateralized credit-adjusted borrowing rate.


	Three months ended June 30,						Six months ended June 30,
	2026			2025			2026			2025
Operating lease cost (cost resulting from lease payments)	$	1,760		$	1,474		$	3,247		$	2,807
Variable lease cost (cost excluded from lease payments)	146			138			244			221
Sublease income	(114)			(98)			(217)			(176)
Net lease cost	$	1,792		$	1,514		$	3,274		$	2,852
Cash paid for amounts included in the measurement of lease liabilities	$	1,390		$	1,609		$	2,760		$	3,071
Weighted average lease term - operating leases	5.9 years			4.1 years			5.9 years			4.1 years
Weighted average discount rate - operating leases	6.2		%	5.3		%	6.2		%	5.3		%

As of June 30, 2026, the current and long term operating lease liabilities are $5.3 million and $24.8 million, respectively. Future payments of operating leases as of June 30, 2026 are listed in the table below:


Year	Amount
2026 (Excluding the six months ended June 30, 2026)	$	3,193
2027	6,534
2028	7,234
2029	5,574
2030	3,871
Thereafter	10,515
Total future minimum lease payments	36,921
Amount representing interest	(6,818)
Present value of net future minimum lease payments	$	30,103