On February 20, 2025, the Company entered into a new 152-month lease agreement for approximately 75,000

square feet of office space in Tampa, Florida. Access to the leased premises commenced on March 31, 2026 and was

made available for use by the Company. Total future contractual lease payments under this agreement are expected

to approximate $45.7 million over the lease term. The terms of the new lease agreement include an eight-month rent

abatement period upon commencement. As a result, lease payments in 2026 are lower than subsequent years.

Operating lease cost was $1,036 and $544 for the three months ended June 30, 2026 and 2025, respectively, and

$1,406 and $1,087 for the six months ended June 30, 2026 and 2025, respectively, and is included in other operating

expenses on the condensed consolidated statements of operations and comprehensive income. Short-term and

variable lease costs were immaterial for the six months ended June 30, 2026 and 2025.

The following table provides supplemental balance sheet information about the Company’s leases as of June 30,


	June 30, 2026	December 31, 2025
Operating leases:
Right-of-use assets	$38,452	$449
Lease liability	$33,065	$458
Weighted-average remaining lease term:
Operating leases	12.35 years	0.34 years
Weighted-average discount rate:
Operating leases	5.36%	3.42%

Supplemental disclosure of cash flow information related to leases was as follows for the three and six months ended


	Three Months Ended June 30,		Six Months Ended June 30,
	2026	2025	2026	2025
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$27	$565	$416	$1,127

The estimated future minimum payments of operating leases as of June 30, 2026 are as follows:


		Operating Leases
2026 remaining		$326
2027		3,403
2028		3,473
2029		3,585
2030		3,631
Thereafter		31,957
Total lease payments		46,375
Less: imputed interest		(13,310)
Present value of lease liabilities		$33,065