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Leases (Tables)
6 Months Ended
Jun. 30, 2025
Leases [Abstract]  
Summary of Components of Lease Expense

The components of lease expense were as follows (in thousands):

 

 

For the Three Months Ended June 30,

 

 

 

2025

 

 

2024

 

Operating lease cost

 

$

1,783

 

 

$

2,897

 

Short-term lease cost

 

 

439

 

 

 

231

 

Variable lease cost

 

 

1,181

 

 

 

1,038

 

Sublease income

 

 

 

 

 

(130

)

Total lease cost

 

$

3,403

 

 

$

4,036

 

 

 

 

For the Six Months Ended June 30,

 

 

 

2025

 

 

2024

 

Operating lease cost

 

$

4,320

 

 

$

5,991

 

Short-term lease cost

 

 

815

 

 

 

446

 

Variable lease cost

 

 

2,324

 

 

 

2,268

 

Sublease income

 

 

 

 

 

(261

)

Total lease cost

 

$

7,459

 

 

$

8,444

 

Summary of Additional Lease Information

Additional lease information is summarized in the following table (in thousands, except lease term and discount rate):

 

 

For the Six Months Ended June 30,

 

 

 

2025

 

 

2024

 

Cash paid for amounts included in the measurement of operating
   lease liabilities

 

$

6,156

 

 

$

7,270

 

Operating lease ROU assets obtained in exchange for lease
   obligations

 

$

9,841

 

 

$

408

 

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

 

 

8.9

 

 

 

4.0

 

Weighted-average discount rate - operating leases

 

 

5.1

%

 

 

4.2

%

Summary of Future Minimum Lease Payments Under Non-Cancelable Leases

Future minimum lease payments under non-cancelable leases as of June 30, 2025 are as follows (in thousands):

 

 

Operating Lease

 

 

 

Payments

 

2025 (remainder)

 

$

5,683

 

2026

 

 

7,596

 

2027

 

 

8,303

 

2028

 

 

6,577

 

2029

 

 

6,653

 

Thereafter

 

 

44,250

 

Total lease payments

 

 

79,062

 

Less imputed interest

 

 

(37,333

)

Present value of lease liabilities

 

$

41,729

 

Summary of Lease Balances

Lease balances as of June 30, 2025 are as follows (in thousands):

Operating lease ROU assets

 

$

33,184

 

 

 

 

 

Short-term operating lease liabilities (1)

 

$

6,616

 

Non-current operating lease liabilities

 

 

35,113

 

Total operating lease liabilities

 

$

41,729

 

 

(1)
Included in accrued expenses and other current liabilities in the Consolidated Balance Sheets.