We have operating leases for office space and tower space expiring at various dates through December 2047 and finance leases for broadcast tower space expiring in March 2029. Some leases have options to extend and some have options to terminate. Operating leases are included in lease right-of-use assets, current operating lease liabilities, and noncurrent operating lease liabilities in our condensed consolidated balance sheets. Finance leases are included in deposits and other, other current liabilities, and other noncurrent liabilities in our condensed consolidated balance sheet.

We elected not to apply the recognition requirements of ASC 842, Leases, to short-term leases, which are deemed to be leases with a lease term of 12 months or less. Instead, we recognized lease payments in the condensed consolidated statements of operations on a straight-line basis over the lease term and variable payments in the period in which the obligation for these payments was incurred. We elected this policy for all classes of underlying assets. Short-term lease expense recognized during both the three and six months ended June 30, 2026 and 2025 was not material.

On February 27, 2026, the Company entered into an amendment to an existing lease agreement. The amendment resulted in a remeasurement of the related lease liability and right-of-use (“ROU”) asset. As a result of the remeasurement, both the lease liability and the ROU asset decreased; however, the reduction in the lease liability exceeded the decrease in the ROU asset.

As a result of the lease modification and remeasurement, the Company recorded a $7.0 million, reduction in lease liabilities during the first quarter of 2026, consisting of a $1.0 million reduction in current lease liabilities and a $6.0 million reduction in non-current lease liabilities, as well as a reduction of the ROU asset of $5.4 million. As a result, the Company recognized a remeasurement gain of $1.6 million, representing the excess of the reduction in the lease liability over the reduction in the ROU asset. This gain is included in other income in the Company’s condensed consolidated statements of operations.


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Operating lease cost	$	1,698	$	1,983	$	3,421	$	4,022
Operating cash flows from operating leases	$	1,521	$	1,645	$	3,075	$	3,359
Right-of-use assets obtained in exchange for additional operating lease liabilities from lease modification	$	—	$	457	$	—	$	457


	June 30, 2026		December 31, 2025
Weighted average remaining lease term - operating leases (in years)	11.4		12.1
Weighted average discount rate - operating leases	11.5	%	11.7	%


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Finance lease cost	$	143	$	226	$	276	$	456
Cash flows from finance leases	$	201	$	193	$	395	$	380


	June 30, 2026		December 31, 2025
Weighted average remaining lease term - finance leases (in years)	2.8		3.2
Weighted average discount rate - finance leases	11.3	%	11.3	%


	Operating Leases		Finance Leases
2026 (from July 1)	$	3,090	$	402
2027	5,956		831
2028	5,855		866
2029	5,479		219
2030	5,396		—
Thereafter	38,176		—
Total lease payments	63,952		2,318
Less imputed interest	(29,102)		(321)
Total recorded operating lease liabilities	$	34,850	$	1,997