v3.26.1
Leases
 6 Months Ended
Jun. 30, 2026
Leases [Abstract]  
Leases Leases
We have operating and finance leases for corporate and business offices, service facilities, call centers and certain equipment. Leases with an initial term of 12 months or less are generally not recorded on the balance sheet, unless the arrangement includes an option to purchase the underlying asset, or an option to renew the arrangement, that we are reasonably certain to exercise (short-term lease). Our leases have remaining lease terms of one to seven years, some of which may include options to extend the leases for up to an additional five years.
As of June 30, 2026, assets recorded under finance and operating leases were approximately $0.5 million and $18.1 million, respectively, and accumulated amortization associated with finance leases was $0.3 million. As of December 31, 2025, assets recorded under finance and operating leases were approximately $0.6 million and $19.2 million, respectively, and accumulated amortization associated with finance leases was $0.3 million. Operating lease right of use assets and lease liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. The discount rate used to determine the commencement date present value of lease payment is the interest rate implicit in the lease, or when that is not readily determinable, we utilize our incremental borrowing rate, which is the rate incurred to borrow on a collateralized basis over a similar term at an amount equal to the lease payments in a similar economic environment. Certain adjustments to the right-of-use asset may be required for items such as initial direct costs paid or incentives received.
There was no impairment of leases during the three and six months ended June 30, 2026 and 2025.
The following table presents supplemental balance sheet information related to our financing and operating leases:
In thousandsAs of June 30, 2026As of December 31, 2025
Operating LeasesFinance LeasesTotalOperating LeasesFinance LeasesTotal
Right-of-use Assets$18,078 $519 $18,597 $19,247 $607 $19,854 
Liabilities
Current portion of lease liabilities3,831 172 4,003 3,376 167 3,543 
Long-term lease liabilities16,646 389 17,035 18,400 461 18,861 
Total Lease Liabilities$20,477 $561 $21,038 $21,776 $628 $22,404 
For the three and six months ended June 30, 2026 and 2025, the components of lease expense were as follows:
Three months ended June 30,Six months ended June 30,
In thousands2026202520262025
Operating lease cost$1,167 $1,259 $2,340 $2,524 
Finance lease cost:
Amortization of right-of-use assets43 43 86 88 
Interest on lease liabilities11 14 23 29 
Total Finance lease cost54 57 109 117 
Variable lease cost321 369 651 776 
Total lease cost, net$1,542 $1,685 $3,100 $3,417 
Other information related to leases was as follows:
In thousandsSix Months Ended June 30, 2026Six Months Ended June 30, 2025
Supplemental Cash Flows Information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$2,457 $2,645 
Operating cash flows from finance leases21 27 
Financing cash flows from finance leases82 79 
Weighted Average Remaining Lease term in years
Operating leases5.05.9
Finance leases3.14.1
Weighted Average Discount Rate
Operating leases5.93 %5.76 %
Finance leases7.75 %7.77 %
The maturities of the Company’s finance and operating lease liabilities as of June 30, 2026 are as follows:
In thousandsOperating Leases Finance Leases
Year Ending December 31,
Remainder of 2026$2,411 $103 
20274,714 206 
20284,537 206 
20294,579 114 
20304,485 — 
2031 and beyond3,116 — 
Total future minimum lease payments23,842 629 
Less: imputed interest3,365 68 
Total lease liabilities$20,477 $561 
Leases Leases
We have operating and finance leases for corporate and business offices, service facilities, call centers and certain equipment. Leases with an initial term of 12 months or less are generally not recorded on the balance sheet, unless the arrangement includes an option to purchase the underlying asset, or an option to renew the arrangement, that we are reasonably certain to exercise (short-term lease). Our leases have remaining lease terms of one to seven years, some of which may include options to extend the leases for up to an additional five years.
As of June 30, 2026, assets recorded under finance and operating leases were approximately $0.5 million and $18.1 million, respectively, and accumulated amortization associated with finance leases was $0.3 million. As of December 31, 2025, assets recorded under finance and operating leases were approximately $0.6 million and $19.2 million, respectively, and accumulated amortization associated with finance leases was $0.3 million. Operating lease right of use assets and lease liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. The discount rate used to determine the commencement date present value of lease payment is the interest rate implicit in the lease, or when that is not readily determinable, we utilize our incremental borrowing rate, which is the rate incurred to borrow on a collateralized basis over a similar term at an amount equal to the lease payments in a similar economic environment. Certain adjustments to the right-of-use asset may be required for items such as initial direct costs paid or incentives received.
There was no impairment of leases during the three and six months ended June 30, 2026 and 2025.
The following table presents supplemental balance sheet information related to our financing and operating leases:
In thousandsAs of June 30, 2026As of December 31, 2025
Operating LeasesFinance LeasesTotalOperating LeasesFinance LeasesTotal
Right-of-use Assets$18,078 $519 $18,597 $19,247 $607 $19,854 
Liabilities
Current portion of lease liabilities3,831 172 4,003 3,376 167 3,543 
Long-term lease liabilities16,646 389 17,035 18,400 461 18,861 
Total Lease Liabilities$20,477 $561 $21,038 $21,776 $628 $22,404 
For the three and six months ended June 30, 2026 and 2025, the components of lease expense were as follows:
Three months ended June 30,Six months ended June 30,
In thousands2026202520262025
Operating lease cost$1,167 $1,259 $2,340 $2,524 
Finance lease cost:
Amortization of right-of-use assets43 43 86 88 
Interest on lease liabilities11 14 23 29 
Total Finance lease cost54 57 109 117 
Variable lease cost321 369 651 776 
Total lease cost, net$1,542 $1,685 $3,100 $3,417 
Other information related to leases was as follows:
In thousandsSix Months Ended June 30, 2026Six Months Ended June 30, 2025
Supplemental Cash Flows Information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$2,457 $2,645 
Operating cash flows from finance leases21 27 
Financing cash flows from finance leases82 79 
Weighted Average Remaining Lease term in years
Operating leases5.05.9
Finance leases3.14.1
Weighted Average Discount Rate
Operating leases5.93 %5.76 %
Finance leases7.75 %7.77 %
The maturities of the Company’s finance and operating lease liabilities as of June 30, 2026 are as follows:
In thousandsOperating Leases Finance Leases
Year Ending December 31,
Remainder of 2026$2,411 $103 
20274,714 206 
20284,537 206 
20294,579 114 
20304,485 — 
2031 and beyond3,116 — 
Total future minimum lease payments23,842 629 
Less: imputed interest3,365 68 
Total lease liabilities$20,477 $561