Annual report [Section 13 and 15(d), not S-K Item 405]

Leases (Tables)

v3.26.1
Leases (Tables)
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Summary of Lease Cost

The components of lease expense are as follows:

 

 

 

 

 

Year Ended December 31,

 

 

 

 

 

2025

 

 

2024

 

Operating lease costs(1)

 

Selling, general and administrative expenses

 

$

 

6,876

 

 

$

 

6,863

 

 

 

Costs and expenses applicable to revenues

 

 

 

688

 

 

 

 

1,405

 

Total lease cost

 

 

 

$

 

7,564

 

 

$

 

8,268

 

 

(1)
Includes short-term leases and variable lease costs for the years ended December 31, 2025 and 2024.
Summary of Supplemental Balance Sheet Information Related to Leases

Supplemental balance sheet information related to leases is as follows:

 

 

 

 

 

 

 

 

 

 

 

Balance Sheet Information

 

Classification

 

December 31, 2025

 

 

December 31, 2024

 

Operating lease right-of-use assets, net

 

Operating leases

 

$

 

29,436

 

 

$

 

24,012

 

Lease liabilities

 

 

 

 

 

 

 

 

 

 

Current portion of operating lease liabilities

 

Operating leases

 

$

 

7,195

 

 

$

 

6,534

 

Long-term portion of operating lease liabilities

 

Operating leases

 

 

 

26,778

 

 

 

 

21,599

 

Total

 

 

 

$

 

33,973

 

 

$

 

28,133

 
Summary of Maturities of Lease Liabilities for Operating Leases

Maturities of lease liabilities for operating leases as of December 31, 2025, were as follows:

 

 

 

 

 

Operating Leases

 

2026

 

 

 

$

 

7,195

 

2027

 

 

 

 

 

6,849

 

2028

 

 

 

 

 

6,883

 

2029

 

 

 

 

 

6,668

 

2030

 

 

 

 

 

5,987

 

Thereafter

 

 

 

 

 

45,951

 

Total lease payments

 

 

 

$

 

79,533

 

Less: interest expense

 

 

 

 

 

(45,560

)

Present value of lease liabilities

 

 

 

$

 

33,973

 

Weighted-average remaining lease term (years)

 

 

 

 

 

11.4

 

Weighted-average discount rate

 

 

 

 

 

18

%