Operating lease arrangements primarily consist of office leases expiring in various years through 2033. These leases have original terms of approximately 2 to 8 years and some contain options to extend the lease up to 5 years or terminate the lease, which are included in right-of-use assets and lease liabilities when the Company is reasonably certain it will renew the underlying leases. Since the implicit rate of such leases is unknown and the Company is not reasonably certain to renew its leases, the Company has elected to apply a collateralized incremental borrowing rate to facility leases on the original lease term

in calculating the present value of future lease payments. As of September 30, 2026 and December 31, 2025, the weighted average discount rate for operating leases was 4.2% and 4.6%, respectively, and the weighted average remaining lease term for operating leases was 3.6 years and 2.7 years, respectively, as of the end of each of these periods.

The table below presents aggregate future minimum payments due under leases, reconciled to total lease liabilities included in the consolidated balance sheet as of September 30, 2026:


	Operating Leases
	(in thousands)
2026 (3 months)	$	2,364
2027	8,833
2028	4,862
2029	3,687
2030	1,927
Thereafter	2,898
Total minimum payments	24,571
Less: imputed interest	(2,553)
Less: unrealized translation loss	(75)
Total lease liabilities	21,943
Less: short-term lease liabilities	(8,167)
Long-term lease liabilities	$	13,776

Operating lease cost was $2.1 million and $2.2 million for the three months ended September 30, 2026 and 2025, respectively. Operating lease cost was $6.5 million and $6.8 million for the nine months ended September 30, 2026 and 2025, respectively.

There were $0.1 million and $0 of right-of-use assets obtained in exchange for new lease liabilities for the three months ended September 30, 2026 and 2025, respectively. There were $8.3 million and $2.0 million of right-of-use assets obtained in exchange for new lease liabilities for the nine months ended September 30, 2026 and 2025, respectively.