v3.26.3
Leases (Tables)
9 Months Ended
Sep. 30, 2026
Leases  
Schedule of Balance Sheet Classification of the Company's Right-of-use Asset and Lease Liabilities

The balance sheet classification of the Company’s right-of-use asset and lease liabilities was as follows (in thousands):

 

 

 

September 30,

 

 

December 31,

 

 

 

2026

 

 

2025

 

Operating lease right-of-use assets

 

$

 

42,564

 

 

$

 

45,899

 

Operating lease liabilities

 

 

 

 

 

 

 

Current portion included in current liabilities

 

$

 

2,444

 

 

$

 

4,043

 

Long-term portion included in non-current liabilities

 

 

 

42,766

 

 

 

 

44,401

 

Total operating lease liabilities

 

$

 

45,210

 

 

$

 

48,444

 

Schedule of Components of Lease Expenses

The following table summarizes components of lease expenses, which were included in total expenses in the Company’s condensed consolidated statements of operations and in inventory in the condensed consolidated balance sheets, and other information related to the Company’s operating leases as follows (in thousands, except weighted-average remaining lease terms and discount rates):

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

 

September 30,

 

 

September 30,

 

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

 

Operating lease cost

 

$

 

1,774

 

 

$

 

3,936

 

 

$

 

6,322

 

 

$

 

11,829

 

 

Variable lease cost

 

 

 

509

 

 

 

 

526

 

 

 

 

1,438

 

 

 

 

2,107

 

 

Short-term lease cost

 

 

 

60

 

 

 

 

81

 

 

 

 

190

 

 

 

 

265

 

 

Total lease cost

 

$

 

2,343

 

 

$

 

4,543

 

 

$

 

7,950

 

 

$

 

14,201

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other information

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash paid for amounts included in the measurement of lease liabilities included in cash flows from operations

 

$

 

1,650

 

 

$

 

3,424

 

 

$

 

6,218

 

 

$

 

11,254

 

 

Increase (decrease) in right-of-use assets from lease modifications

 

$

 

—

 

 

$

 

1,735

 

 

$

 

359

 

 

$

 

2,231

 

 

Weighted-average remaining lease terms (years)

 

 

 

 

 

 

 

 

 

 

 

13.91

 

 

 

 

13.49

 

 

Weighted-average discount rates

 

 

 

 

 

 

 

 

 

 

 

7.5

 

%

 

 

7.6

 

%

Schedule of Maturities of the Company's Operating Lease Liabilities

As of September 30, 2026, the maturities of the Company’s operating lease liabilities were as follows (in thousands):

 

 

 

 

 

 

Year Ending December 31,

 

Total

 

2026

 

$

 

1,653

 

2027

 

 

 

5,469

 

2028

 

 

 

5,016

 

2029

 

 

 

4,838

 

2030

 

 

 

4,610

 

Thereafter

 

 

 

53,393

 

Total lease payments

 

$

 

74,979

 

Less: Present value adjustment

 

 

 

(29,769

)

Operating lease liabilities

 

$

 

45,210