v3.26.3
Leases (Tables)
 9 Months Ended
Sep. 30, 2026
Leases [Abstract]  
Schedule of Supplemental Balance Sheets Information
The following table summarizes the lease amounts included in the Company’s condensed consolidated balance sheets:
(in thousands)Classification on the Condensed Consolidated Balance SheetsSeptember 30, 2026December 31, 2025
Assets
Operating
Operating lease right-of-use assets(1)
$20,348 $19,792 
Finance
Property and equipment, net(2)(3)
25,362 22,002 
Total lease assets$45,710 $41,794 
Liabilities
Current
   OperatingCurrent operating lease liabilities$4,965 $4,379 
   FinanceCurrent portion of long-term debt6,461 5,031 
Noncurrent
   OperatingLong-term operating lease liabilities16,762 15,925 
   Finance
Long-term debt(4)
23,430 20,890 
Total lease liabilities$51,618 $46,225 
(1)     Operating lease assets are recorded net of accumulated amortization of $21.9 million at September 30, 2026 and $17.9 million at December 31, 2025.
(2)    Finance lease vehicle assets are recorded net of accumulated amortization of $10.7 million at September 30, 2026 and $8.2 million at December 31, 2025.
(3)    Includes approximately $2.1 million and $2.2 million of net property assets associated with the Company’s Pontiac Facility at both September 30, 2026 and December 31, 2025, respectively.
(4)    Includes approximately $5.4 million associated with the Company’s sale and leaseback financing transaction at both September 30, 2026 and December 31, 2025. See Note 6 – Debt for further detail.
Schedule of Lease Costs, Lease Terms and Discount Rates
The following table summarizes the lease costs included in the Company’s condensed consolidated statements of operations for the three and nine months ended September 30, 2026 and 2025:
Three Months Ended
September 30,		Nine Months Ended
September 30,
(in thousands)Classification on the Condensed Consolidated Statement of Operations2026202520262025
Operating lease cost
Cost of revenue(1)
$1,265 $834 $2,878 $2,603 
Operating lease cost
Selling, general and administrative(1)
1,176 524 2,380 1,389 
Finance lease cost
   Amortization
Cost of revenue(2)
1,590 1,421 4,401 3,392 
   Interest
Interest expense, net(2)
280 278 787 650 
Total lease cost$4,311 $3,057 $10,446 $8,034 
(1)    Operating lease costs recorded in cost of revenue included $0.1 million and $0.3 million of variable lease costs for the three months ended September 30, 2026 and 2025, respectively, and $0.4 million and $0.6 million for the nine months ended September 30, 2026 and 2025, respectively. In addition, $0.1 million of variable lease costs are included in selling, general and administrative for both the three months ended September 30, 2026 and 2025, and $0.3 million for both the nine months ended September 30, 2026 and 2025. These variable costs consist of the Company’s proportionate share of operating expenses, real estate taxes and utilities.
(2)     Finance lease costs recorded in cost of revenue includes variable lease costs of $1.2 million and $0.9 million for the three months ended September 30, 2026 and 2025, respectively, and $3.2 million and $2.8 million for the nine months ended September 30, 2026 and 2025, respectively. These variable lease costs consist of fuel, maintenance, and sales tax charges.
The following is a summary of the lease terms and discount rates as of:
September 30, 2026December 31, 2025
Weighted average lease term (in years):
   Operating5.635.43
   Finance (1)
3.583.95
Weighted average discount rate:
   Operating6.39 %6.18 %
   Finance (1)
5.59 %5.41 %
(1)     Excludes the weighted average lease term and weighted average discount rate associated with the aforementioned sale-leaseback financing transaction, which has a Primary Term of 25 years and utilized an implicit rate of 11.11%. See Note 6 – Debt for further detail.
Schedule of Future Minimum Commitment for Finance Leases
The future undiscounted minimum finance lease payments, as reconciled to the discounted minimum lease obligation indicated on the Company’s condensed consolidated balance sheets within current and long-term debt, less interest, and under current and long-term operating leases, less imputed interest, as of September 30, 2026 were as follows (in thousands):
Year ending:VehiclesPontiac FacilityTotal
Finance Lease Obligations		Operating Lease Obligations
Sublease Receipts(1)
Remainder of 2026$1,987 $138 $2,125 $1,611 $286 
20277,299 555 7,854 5,882 495 
20286,460 569 7,029 5,098 14 
20296,247 583 6,830 3,926 — 
20304,097 597 4,694 2,654 — 
Thereafter1,200 12,552 13,752 6,820 — 
Total minimum lease payments27,290 14,994 42,284 25,991 $795 
Financing Component (2)
(2,750)(9,643)(12,393)(4,264)
Net present value of minimum lease payments24,540 5,351 29,891 21,727 
Less: current portion of finance and operating lease obligations(6,461)— (6,461)(4,965)
Long-term finance and operating lease obligations$18,079 $5,351 $23,430 $16,762 
(1)    Primarily associated with the aforementioned third-party sublease agreement.
(2)    The financing component for finance lease obligations represents the interest component of finance leases that will be recognized as interest expense in future periods. The financing component for operating lease obligations represents the effect of discounting the lease payments to their present value.
Schedule of Future Minimum Commitment for Operating Leases
The future undiscounted minimum finance lease payments, as reconciled to the discounted minimum lease obligation indicated on the Company’s condensed consolidated balance sheets within current and long-term debt, less interest, and under current and long-term operating leases, less imputed interest, as of September 30, 2026 were as follows (in thousands):
Year ending:VehiclesPontiac FacilityTotal
Finance Lease Obligations		Operating Lease Obligations
Sublease Receipts(1)
Remainder of 2026$1,987 $138 $2,125 $1,611 $286 
20277,299 555 7,854 5,882 495 
20286,460 569 7,029 5,098 14 
20296,247 583 6,830 3,926 — 
20304,097 597 4,694 2,654 — 
Thereafter1,200 12,552 13,752 6,820 — 
Total minimum lease payments27,290 14,994 42,284 25,991 $795 
Financing Component (2)
(2,750)(9,643)(12,393)(4,264)
Net present value of minimum lease payments24,540 5,351 29,891 21,727 
Less: current portion of finance and operating lease obligations(6,461)— (6,461)(4,965)
Long-term finance and operating lease obligations$18,079 $5,351 $23,430 $16,762 
(1)    Primarily associated with the aforementioned third-party sublease agreement.
(2)    The financing component for finance lease obligations represents the interest component of finance leases that will be recognized as interest expense in future periods. The financing component for operating lease obligations represents the effect of discounting the lease payments to their present value.
Schedule of Leases Supplemental Cash Flow Information
The following is a summary of other information and supplemental cash flow information related to finance and operating leases:
Nine Months Ended September 30,
(in thousands)20262025
Cash paid for amounts included in the measurement of lease liabilities:
   Operating cash flows from operating leases$5,115 $3,935 
   Operating cash flows from finance leases721 619 
   Financing cash flows from finance leases3,893 3,052 
Right-of-use assets exchanged for lease liabilities:
   Operating leases3,526 2,317 
   Finance leases4,221 13,475 
Right-of-use assets disposed or adjusted modifying operating leases liabilities419 — 
Right-of-use assets disposed or adjusted modifying finance leases liabilities99 —