v3.26.3
Leases (Tables)
 9 Months Ended
Sep. 30, 2026
Leases [Abstract]  
Schedule of Assets and Liabilities Leases
Operating and financing lease right-of-use assets and lease liabilities as of September 30, 2026, and December 31, 2025, were as follows (in thousands):
September 30,December 31,
20262025
Operating Leases:
Operating lease right-of-use assets, net 1, 2
$99,947 $108,541 
Current operating lease liabilities(24,022)(22,000)
Non-current operating lease liabilities(96,509)(106,935)
Total operating lease liabilities(120,531)(128,935)
Finance Leases:
Finance lease right-of-use assets, net 2, 3, 4
4,291 4,932 
Current finance lease liabilities5
(1,387)(1,370)
Non-current finance lease liabilities6
(3,232)(3,848)
Total finance lease liabilities(4,619)(5,218)
Total lease liabilities$(125,150)$(134,153)
1 These assets primarily include leases for facilities, Energy Server systems, and vehicles.
2 Net of accumulated amortization.
3 These assets primarily include leases for vehicles.
4 Included in property, plant and equipment, net in the condensed consolidated balance sheets.
5 Included in accrued expenses and other current liabilities in the condensed consolidated balance sheets.
6 Included in other long-term liabilities in the condensed consolidated balance sheets.
Schedule of Lease, Cost
The components of our lease costs for the three and nine months ended September 30, 2026 and 2025, were as follows (in thousands):
Three Months EndedNine Months Ended
September 30,September 30,
2026202520262025
Operating lease costs$8,237 $8,044 $24,569 $23,967 
Financing lease costs:
Amortization of right-of-use assets356 308 1,112 699 
Interest on lease liabilities103 88 329 259 
Total financing lease costs459 396 1,441 958 
Short-term lease costs70 616 125 1,853 
Total lease costs$8,766 $9,056 $26,135 $26,778 
Weighted average remaining lease terms and discount rates for our leases as of September 30, 2026, and December 31, 2025, were as follows:
September 30,December 31,
20262025
Weighted average remaining lease term:
Operating leases5.6 years6 years
Finance leases3.4 years3.8 years
Weighted average discount rate:
Operating leases10.4 %10.5 %
Finance leases8.9 %9.0 %
Schedule of Finance Lease, Liability, Fiscal Year Maturity
Future lease payments under lease agreements as of September 30, 2026, were as follows (in thousands):
Operating LeasesFinance Leases
Remainder of 2026$8,650 $441 
202735,204 1,707 
202829,912 1,432 
202923,294 1,117 
203021,240 585 
203115,337 47 
Thereafter28,078 — 
Total minimum lease payments161,715 5,329 
Less: amounts representing interest or imputed interest(41,184)(710)
Present value of lease liabilities$120,531 $4,619 
As of September 30, 2026, future lease payments under the Managed Services Agreements financing obligations were as follows (in thousands):
Financing Obligations
Remainder of 2026$5,456 
202717,930 
202812,270 
20297,642 
20305,889 
20314,063 
Thereafter9,946 
Total minimum lease payments63,196 
Less: imputed interest(27,502)
Present value of net minimum lease payments35,694 
Less: current financing obligations(8,539)
Long-term financing obligations$27,155 
Schedule of Lessee, Operating Lease, Liability, Maturity
Future lease payments under lease agreements as of September 30, 2026, were as follows (in thousands):
Operating LeasesFinance Leases
Remainder of 2026$8,650 $441 
202735,204 1,707 
202829,912 1,432 
202923,294 1,117 
203021,240 585 
203115,337 47 
Thereafter28,078 — 
Total minimum lease payments161,715 5,329 
Less: amounts representing interest or imputed interest(41,184)(710)
Present value of lease liabilities$120,531 $4,619 
As of September 30, 2026, future lease payments under the Managed Services Agreements financing obligations were as follows (in thousands):
Financing Obligations
Remainder of 2026$5,456 
202717,930 
202812,270 
20297,642 
20305,889 
20314,063 
Thereafter9,946 
Total minimum lease payments63,196 
Less: imputed interest(27,502)
Present value of net minimum lease payments35,694 
Less: current financing obligations(8,539)
Long-term financing obligations$27,155