Leases (Tables)

6 Months Ended

Jun. 30, 2024

Leases [Abstract]

Schedule of Components of Operating Lease Expense

The following table presents the components of operating lease expense for the three and six months ended June 30, 2024 and 2023:

		Three Months Ended June 30,				Six Months Ended June 30,
Lease cost:	Classification	2024		2023		2024		2023
		(In thousands)
Operating lease cost - office space	Occupancy	$	2,750	$	2,882	$	5,504	$	5,993
Operating lease cost - equipment	Technology and communications		98		—		195		—
Variable lease costs	Occupancy		882		347		1,469		398
Total operating lease cost		$	3,730	$	3,229	$	7,168	$	6,391

Summary of Weighted Average Remaining Lease Term and Discount Rate

The weighted average remaining lease term and weighted average discount rate are as follows:

	As of
Lease Term and Discount Rate	June 30, 2024			December 31, 2023
Weighted average remaining lease term (in years) - operating leases		9.2			9.6
Weighted average discount rate - operating leases		6.0	%		6.0	%
Weighted average remaining lease term (in years) - finance leases		1.3			1.8
Weighted average discount rate - finance leases		7.2	%		7.2	%

Schedule of Maturity of Lease Liabilities

The following table presents the maturity of lease liabilities as of June 30, 2024:

	Operating Leases		Finance Leases
	(In thousands)
Remainder of 2024	$	6,548	$	59
2025		12,351		88
2026		11,765		—
2027		9,010		—
2028		8,615		—
2029 and thereafter		51,306		—
Total lease payments		99,595		147
Less: imputed interest		23,514		7
Present value of lease liabilities	$	76,081	$	140