LEASES (Tables)

9 Months Ended

Sep. 30, 2025

Leases [Abstract]

Schedule of Operating Lease Liability

The following is a maturity analysis of the annual undiscounted cash flows of the estimated operating and finance lease liabilities as of September 30, 2025 (in thousands):

	Operating Lease Liability		Finance Lease Liability
Remainder of 2025	$	881	$	6
2026	3,527		22
2027	3,542		22
2028	3,558		22
2029	3,612		22
Thereafter	21,543		657
	$	36,663	$	751

Schedule of Finance Lease Liability

The following is a maturity analysis of the annual undiscounted cash flows of the estimated operating and finance lease liabilities as of September 30, 2025 (in thousands):

	Operating Lease Liability		Finance Lease Liability
Remainder of 2025	$	881	$	6
2026	3,527		22
2027	3,542		22
2028	3,558		22
2029	3,612		22
Thereafter	21,543		657
	$	36,663	$	751

Reconciliation of the Undiscounted Cash Flows to the Operating Lease Liabilities

A reconciliation of the undiscounted cash flows to the operating lease liabilities recognized in the condensed consolidated balance sheet as of September 30, 2025 follows (in thousands):

	Operating Lease Liability		Finance Lease Liability
Undiscounted cash flows of the operating lease	$	36,663	$	751
Unamortized discount	11,857		459
Total operating lease liability	24,806		292
Current portion of operating lease liability	1,993		2
Operating lease liability, net of current portion	$	22,813	$	290

Schedule of Lease Income for the Operating Lease

The components of lease income for the operating lease were as follows:

	Three Months Ended September 30,		Nine Months Ended September 30,
	2025	2024	2025	2024
Lease income relating to lease payments	5,747	—	5,747	—
Variable lease payments	1,455	—	1,455	—

Schedule of Operating Lease Payments

The following table represents the maturity analysis of commenced minimum operating lease payments expected to be received as of September 30, 2025, and thereafter (in thousands):

	Operating Lease
Remainder of 2025	$	3,421
2026	14,415
2027	22,435
2028	30,586
2029	31,503
Thereafter	205,638
	$	307,998

Schedule of Leased Property, Plant and Equipment, Net

Leased property, plant and equipment, net consisted of the following (in thousands):

	September 30, 2025		December 31, 2024
Computer equipment	$	2,240	$	—
Electrical equipment	40,680		—
Leasehold improvements	117,360		—
Total	160,280		—
Less: accumulated depreciation	(879)		—
Leased property and equipment, net	$	159,401	$	—