Leases (Tables)

9 Months Ended

Sep. 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 nine months ended September 30, 2024 and 2023:

		Three Months Ended September 30,				Nine Months Ended September 30,
Lease cost:	Classification	2024		2023		2024		2023
		(In thousands)
Operating lease cost - office space	Occupancy	$	2,774	$	2,941	$	8,278	$	8,934
Operating lease cost - equipment	Technology and communications		98		—		293		—
Variable lease costs	Occupancy		975		341		2,444		739
Total operating lease cost		$	3,847	$	3,282	$	11,015	$	9,673

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	September 30, 2024			December 31, 2023
Weighted average remaining lease term (in years) - operating leases		8.9			9.6
Weighted average discount rate - operating leases		6.0	%		6.0	%
Weighted average remaining lease term (in years) - finance leases		1.0			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 September 30, 2024:

	Operating Leases		Finance Leases
	(In thousands)
Remainder of 2024	$	3,332	$	29
2025		12,812		88
2026		12,226		—
2027		9,229		—
2028		8,623		—
2029 and thereafter		51,238		—
Total lease payments		97,460		117
Less: imputed interest		22,383		4
Present value of lease liabilities	$	75,077	$	113