v3.26.1
Leases
 6 Months Ended
Jun. 30, 2026
Leases [Abstract]  
Leases Leases
The Company has operating leases for office space leased in various buildings for its own use. The Company's leases typically have initial terms ranging from 5 to 10 years. The Company's lease agreements do not contain any material residual value guarantees or material restrictive covenants. Lease costs related to the Company's operating leases are primarily reflected in "cost of revenue" in the consolidated statements of operations, as they are a reimbursable cost under the Company's respective asset management agreements. (See Note 13 for additional information).
The following table summarizes operating lease costs by type (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Operating lease costs
Fixed lease costs$296 $296 $593 $593 
Variable lease costs134 103 225 200 
Total operating lease costs$430 $399 $818 $793 
The following table presents supplemental cash flow information related to the Company's operating leases (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Cash paid for lease liabilities:
Operating cash flows from operating leases$429 $400 $827 $796 
As of June 30, 2026, the Company's operating leases had a weighted-average remaining lease term of 4.4 years and a weighted-average discount rate of 4.65%.
The following table summarizes future lease payments (in thousands):
Year Ending December 31, Operating Leases
2026 (6 months)$610 
20271,204 
20281,233 
20291,262 
20301,073 
Thereafter— 
Total future lease payments5,382 
Imputed interest(524)
Total lease liabilities$4,858 
As of June 30, 2026, the Company does not have any liabilities related to leases that have not yet commenced.