Leases (Tables)
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9 Months Ended |
12 Months Ended |
Sep. 30, 2026 |
Dec. 31, 2025 |
| Leases [Abstract] |
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| Schedule of components of lease costs |
The components of lease costs were as follows (in thousands):
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Three Months Ended
September 30, |
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Nine Months Ended
September 30, |
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2026 |
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2025 |
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2026 |
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2025 |
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Operating lease expense |
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$ |
58 |
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$ |
55 |
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$ |
175 |
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$ |
165 |
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Variable lease cost |
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18 |
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17 |
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51 |
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|
50 |
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Total lease cost |
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$ |
76 |
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$ |
72 |
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$ |
226 |
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$ |
215 |
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The components of lease costs were as follows:
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Years Ended December 31, |
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2025 |
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2024 |
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Operating lease expense |
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$ |
221,552 |
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$ |
216,869 |
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Variable lease cost |
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|
66,092 |
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|
57,984 |
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Total lease cost |
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$ |
287,644 |
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$ |
274,853 |
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| Schedule of supplemental balance sheet information |
The table below summarizes supplemental balance sheet information (in thousands):
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September 30, 2026 |
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December 31, 2025 |
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Operating right-of-use assets |
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$ |
581 |
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$ |
705 |
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Current portion of operating lease liabilities |
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$ |
184 |
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$ |
165 |
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Operating lease liabilities, net of current portion |
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429 |
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|
570 |
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Total operating lease liabilities |
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$ |
613 |
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$ |
735 |
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The table below summarizes supplemental balance sheet information:
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Years Ended December 31, |
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2025 |
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2024 |
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| Operating right-of-use assets |
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$ |
704,854 |
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$ |
648,136 |
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| Current portion of operating lease liabilities |
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$ |
164,940 |
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$ |
160,016 |
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| Operating lease liabilities, net of current portion |
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|
569,881 |
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516,838 |
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| Total operating lease liabilities |
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$ |
734,821 |
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$ |
676,854 |
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| Schedule of future minimum lease payments under non-cancelable operating leases |
As of September 30, 2026, the future minimum lease payments under non-cancelable operating leases are as follows (in thousands):
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Year Ending December 31, |
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2026, remaining (October – December) |
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$ |
58 |
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2027 |
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|
238 |
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2028 |
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|
223 |
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2029 |
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|
195 |
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Total future undiscounted lease payments |
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|
714 |
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Less: imputed interest |
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(101 |
) |
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Present value of operating lease liabilities |
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$ |
613 |
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Less: Current portion of operating lease liabilities |
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(184 |
) |
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Operating lease liabilities, net of current portion |
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$ |
429 |
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As of December 31, 2025 the future minimum lease payments under non-cancelable operating leases are as follows:
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| Year Ending December 31, |
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| 2026 |
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$ |
230,663 |
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| 2027 |
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|
238,313 |
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| 2028 |
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|
223,229 |
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| 2029 |
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|
194,674 |
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| Total future undiscounted lease payments |
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886,879 |
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| Less: imputed interest |
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(152,058 |
) |
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| Present value of operating lease liabilities |
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$ |
734,821 |
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| Less: Current portion of operating lease liabilities |
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(164,940 |
) |
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| Operating lease liabilities, net of current portion |
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$ |
569,881 |
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| Schedule of other information related to the Company's leases |
The table below summarizes other information related to the Company’s leases (dollars in thousands):
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Three Months Ended
September 30, |
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Nine Months Ended
September 30, |
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2026 |
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2025 |
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2026 |
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2025 |
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Cash paid for amounts included in the measurement of lease liabilities |
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$ |
58 |
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$ |
55 |
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$ |
172 |
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$ |
165 |
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As of September 30, |
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2026 |
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2025 |
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Weighted-average remaining lease term (in years) |
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3.2 |
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4.1 |
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Weighted-average discount rate |
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9.94 |
% |
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|
9.94 |
% |
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The table below summarizes other information related to the Company’s leases:
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Years Ended December 31, |
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2025 |
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2024 |
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| Cash paid for amounts included in the measurement of lease liabilities |
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$ |
220,302 |
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$ |
193,006 |
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| Weighted-average remaining lease term (in years) |
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3.8 |
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4.4 |
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| Weighted-average discount rate |
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9.94 |
% |
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9.94 |
% |
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