v3.26.3
Leases
9 Months Ended
Sep. 30, 2026
Leases [Abstract]  
Leases
7. Leases
We have operating leases primarily for rented office space. The leases have remaining lease terms of three months to six years, some of which include options to extend the lease for up to an additional six years. Our leases do not contain any residual value guarantee.
The following table presents various components of the lease costs (in thousands):
Operating LeasesThree Months Ended September 30,Nine Months Ended September 30,
2026202520262025
Operating lease cost$3,148 $3,255 $10,355 $9,544 
Short-term lease cost295 120 978 403 
Variable lease cost995 1,097 2,972 3,628 
Total lease cost$4,438 $4,472 $14,305 $13,575 
The weighted-average remaining term of our operating leases and the weighted-average discount rate used to measure the present value of the operating lease liabilities are as follows:
Lease Term and Discount RateSeptember 30, 2026September 30, 2025
Weighted-average remaining lease term (in years)3.44.2
Weighted-average discount rate8.2 %8.5 %
The following table presents supplemental information arising from lease transactions. Cash payments related to short-term leases are not included in the measurement of the operating lease liabilities, and as such, are excluded from the amounts below (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
Supplemental Cash Flow Information:2026202520262025
Cash payments included in the measurement of operating lease liabilities, net of tenant allowance receipts$2,950 $3,053 $9,637 $7,805 
As of September 30, 2026, maturities of the operating lease liabilities are as follows (in thousands):
Operating Leases
Remainder of 2026$2,552 
202711,959 
202810,974 
20295,904 
20303,472 
Thereafter2,486 
Total lease payments37,347 
Less: imputed interest(4,964)
Present value of operating lease liabilities$32,383 
As of September 30, 2026, there were $6.4 million future payments related to signed leases that have not yet commenced.