v3.26.1
Leases (Tables)
 3 Months Ended
Mar. 31, 2026
Leases [Abstract]  
Summary of Lease Related Expense

The components of lease related expense are as follows (amounts in thousands):

 

 

Three Months Ended March 31,

 

Lease costs

 

2026

 

 

2025

 

Finance lease costs:

 

 

 

 

 

 

Amortization of right-of-use assets

 

$

1,467

 

 

$

718

 

Interest on lease liabilities

 

 

478

 

 

 

528

 

Operating lease costs

 

 

1,720

 

 

 

2,250

 

Sublease income

 

 

(436

)

 

 

—

 

Variable lease costs

 

 

614

 

 

 

1,277

 

Total lease expense

 

$

3,843

 

 

$

4,773

 

 
Summary of Supplemental Cash Flow Information Related to Leases

The components of supplemental cash and non-cash information related to leases are as follows (amounts in thousands):

 

 

Three Months Ended March 31,

 

 

 

2026

 

 

2025

 

Operating outgoing cash flows - finance lease

 

$

478

 

 

$

528

 

Financing outgoing cash flows - finance lease

 

 

870

 

 

 

784

 

Operating outgoing cash flows - operating lease

 

 

1,769

 

 

 

2,248

 

Right-of-use assets obtained in exchange for new operating lease liabilities

 

 

217

 

 

 

—

 

 
Summary of Additional Information for Leases

The table below displays additional information for leases as of March 31, 2026 and December 31, 2025:

 

 

March 31, 2026

 

 

December 31, 2025

 

Finance lease

 

 

 

 

 

 

Weighted-average remaining lease term - finance lease (in years)

 

 

6.5

 

 

 

6.8

 

Weighted-average discount rate - finance lease

 

 

6.06

%

 

 

6.06

%

Operating lease

 

 

 

 

 

 

Weighted-average remaining lease term - operating lease (in years)

 

 

6.4

 

 

 

6.6

 

Weighted-average discount rate - operating lease

 

 

6.52

%

 

 

6.52

%

 

 
Summary of Future Minimum Payments

As of March 31, 2026, future minimum payments during the next five years and thereafter are as follows (amounts in thousands):

Fiscal Year

 

Operating Leases

 

 

Finance Lease

 

2026 (remaining nine months)

 

$

5,390

 

 

$

4,069

 

2027

 

 

7,314

 

 

 

5,566

 

2028

 

 

7,129

 

 

 

5,719

 

2029

 

 

7,129

 

 

 

5,876

 

2030

 

 

7,343

 

 

 

6,038

 

2031

 

 

7,563

 

 

 

6,204

 

Thereafter

 

 

5,166

 

 

 

4,228

 

Total

 

 

47,034

 

 

 

37,700

 

Less present value discount

 

 

(8,845

)

 

 

(6,705

)

Lease liabilities

 

 

38,189

 

 

 

30,995