Leases (Tables)

3 Months Ended

Mar. 31, 2026

Leases

Schedule of operating and finance lease right-of-use assets and related lease obligations

		March 31,		December 31,
Leases	Classification	2026		2025
Assets		(in thousands)
Operating leases	Operating lease assets	$	27,943	$	28,927
Finance lease	Finance lease assets*		13,835		14,154
Total leased assets		$	41,778	$	43,081
Liabilities
Current
Operating	Other current liabilities	$	4,649	$	4,859
Finance	Current portion of finance lease obligation		1,648		1,575
Non-current
Operating	Other long-term liabilities		23,897		24,613
Finance	Finance lease obligation		40,310		40,754
Total lease liabilities		$	70,504	$	71,801
*As of March 31, 2026, finance lease assets are recorded net of accumulated depreciation of $47.8 million and include $0.5 million of prepaid financing costs. As of December 31, 2025, finance lease assets are recorded net of accumulated depreciation of $47.7 million and include $0.5 million of prepaid financing costs.

Schedule of lease costs

		Three months ended
		March 31,
Lease cost	Classification	2026		2025
Operating lease cost		(in thousands)
Product / services*	Cost of revenue	$	1,684	$	1,674
Research and development	Operating expenses		280		219
Sales and marketing*	Operating expenses		535		444
General and administrative*	Operating expenses		278		326
Total operating lease cost		$	2,777	$	2,663
Finance lease cost
Depreciation of leased assets	Cost of revenue, Research and development, Sales and marketing and General and administrative	$	319	$	321
Interest on lease liabilities	Interest expense		1,121		1,156
Total finance lease cost		$	1,440	$	1,477
Total lease cost		$	4,217	$	4,140
* Product / services, sales and marketing and general and administrative expense also includes short-term lease and variable lease costs of approximately $0.7 million and $0.6 million for the three months ended March 31, 2026 and 2025, respectively.

Schedule of future minimum operating and finance leases

	Finance		Operating		Total
Maturity of Lease Liabilities	Leases		Leases		Leases
	(in thousands)
2026	$	4,514	$	4,775	$	9,289
2027		6,128		4,564		10,692
2028		6,251		3,213		9,464
2029		6,376		2,650		9,026
2030		6,503		2,654		9,157
Thereafter		42,456		20,217		62,673
Total lease payments	$	72,228	$	38,073	$	110,301
Less interest portion*		(30,270)		(9,527)		(39,797)
Finance lease and operating lease obligations	$	41,958	$	28,546	$	70,504
* Finance lease interest calculated using the implied interest rate; operating lease interest calculated using estimated corporate borrowing rate.

Schedule of weighted-average remaining lease term and discount rates

	March 31,
Lease term and discount rate	2026
Weighted-average remaining lease term (years):
Operating leases		10.3
Finance leases		10.8
Weighted-average discount rate:
Operating leases		5.3%
Finance leases		10.5%

Schedule of cash outflows by lease type

	Three months ended March 31,
Cash paid for amounts included in the measurement of lease liabilities	2026		2025
	(in thousands)
Operating cash outflows from operating leases	$	2,777	$	2,663
Operating cash outflows from finance leases		1,121		1,156
Financing cash outflows from finance leases		374		349
Operating lease assets obtained in exchange for operating lease liabilities		489		500
Finance lease assets obtained in exchange for new finance lease liabilities		—		—