Leases (Tables)
|
9 Months Ended |
Sep. 30, 2026 |
|---|
| Leases [Abstract] |
|
| Summary of Lease Related Expense |
The components of lease related expense are as follows (amounts in thousands):
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Three Months Ended September 30, |
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Nine Months Ended September 30, |
|
Lease costs |
|
2026 |
|
|
2025 |
|
|
2026 |
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|
2025 |
|
Finance lease costs: |
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|
|
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|
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|
|
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Amortization of right-of-use assets |
|
$ |
1,467 |
|
|
$ |
718 |
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|
$ |
4,402 |
|
|
$ |
2,155 |
|
Interest on lease liabilities |
|
|
451 |
|
|
|
503 |
|
|
|
1,395 |
|
|
|
1,547 |
|
Operating lease costs |
|
|
1,726 |
|
|
|
1,697 |
|
|
|
5,172 |
|
|
|
6,203 |
|
Sublease income |
|
|
(403 |
) |
|
|
— |
|
|
|
(1,275 |
) |
|
|
— |
|
Variable lease costs |
|
|
930 |
|
|
|
796 |
|
|
|
2,223 |
|
|
|
3,094 |
|
Total lease expense |
|
$ |
4,171 |
|
|
$ |
3,714 |
|
|
$ |
11,917 |
|
|
$ |
12,999 |
|
|
| Summary of Supplemental Cash Flow Information Related to Leases |
The components of supplemental cash and non-cash information related to leases are as follows (amounts in thousands):
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Nine Months Ended September 30, |
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|
2026 |
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|
2025 |
|
Operating outgoing cash flows - finance lease |
|
$ |
1,395 |
|
|
$ |
1,547 |
|
Financing outgoing cash flows - finance lease |
|
|
2,649 |
|
|
|
2,388 |
|
Operating outgoing cash flows - operating lease |
|
|
5,353 |
|
|
|
6,245 |
|
Right-of-use assets obtained in exchange for new operating lease liabilities |
|
|
217 |
|
|
|
528 |
|
|
| Summary of Additional Information for Leases |
The table below displays additional information for leases as of September 30, 2026 and December 31, 2025:
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September 30, 2026 |
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December 31, 2025 |
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Finance lease |
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Weighted-average remaining lease term - finance lease (in years) |
|
|
6.0 |
|
|
|
6.8 |
|
Weighted-average discount rate - finance lease |
|
|
6.06 |
% |
|
|
6.06 |
% |
Operating lease |
|
|
|
|
|
|
Weighted-average remaining lease term - operating lease (in years) |
|
|
5.9 |
|
|
|
6.6 |
|
Weighted-average discount rate - operating lease |
|
|
6.52 |
% |
|
|
6.52 |
% |
|
| Summary of Future Minimum Payments |
As of September 30, 2026, future minimum payments during the next five years and thereafter are as follows (amounts in thousands):
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Fiscal Year |
|
Operating Leases |
|
|
Finance Lease |
|
2026 (remaining three months) |
|
$ |
1,807 |
|
|
$ |
1,373 |
|
2027 |
|
|
7,323 |
|
|
|
5,566 |
|
2028 |
|
|
7,132 |
|
|
|
5,719 |
|
2029 |
|
|
7,129 |
|
|
|
5,876 |
|
2030 |
|
|
7,343 |
|
|
|
6,038 |
|
2031 |
|
|
7,563 |
|
|
|
6,204 |
|
Thereafter |
|
|
5,167 |
|
|
|
4,228 |
|
Total |
|
|
43,464 |
|
|
|
35,004 |
|
Less present value discount |
|
|
(7,632 |
) |
|
|
(5,788 |
) |
Lease liabilities |
|
$ |
35,832 |
|
|
$ |
29,216 |
|
|