Leases |
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| Leases [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Leases | Leases Prosper has operating leases for corporate offices. These leases have remaining lease terms of less than year to approximately three years. Some of the lease agreements include options to extend the lease term for up to an additional five years. Rental expense under operating lease arrangements was $0.9 million and $0.9 million for the three months ended September 30, 2026 and 2025, respectively. Rental expense under operating lease arrangements was $2.6 million and $2.7 million for the nine months ended September 30, 2026 and 2025, respectively. Additionally, Prosper subleases certain leased office space to third parties when it determines there is excess leased capacity. Sublease income from operating lease arrangements was $0.1 million and $0.1 million for the three months ended September 30, 2026 and 2025, respectively. Sublease income from operating lease arrangements was $0.4 million and $0.4 million for the nine months ended September 30, 2026 and 2025, respectively. Operating Lease Right-of-Use (“ROU”) Assets The following table summarizes the operating lease right-of-use assets as of September 30, 2026, which are included in Property and Equipment, Net on the condensed consolidated balance sheets.
Lease Liabilities Future maturities of operating lease liabilities as of September 30, 2026 are below (in thousands). The present value of the future minimum lease payments represents our operating lease liabilities as of September 30, 2026 and are included in "" on the condensed consolidated balance sheets.
Because the rate implicit in each lease is not readily determinable, we use our incremental borrowing rate to determine the present value of the lease payments. Other information related to leases was as follows (dollars in thousands):
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