Leases

12 Months Ended

Dec. 31, 2025

The Company leases office, warehouse and manufacturing space and certain equipment under non-cancelable operating lease agreements that generally require us to pay maintenance, insurance, taxes and other expenses in addition to annual rental fees. Our leases have remaining lease terms of one year to sixteen years, some of which include options to extend the leases for up to five years, and some of which include options to terminate the leases within one year.

The components of lease expense are as follows:


	Twelve Months Ended December 31,
		2025		2024

Operating lease cost		$	12,966	$	10,289
Finance lease cost:
Amortization of right-of-use assets		109		92
Interest on lease liabilities		32		9
Finance lease cost		$	141	$	101
Short-term lease cost 1		4,262		4,423
Total lease expense		$	17,369	$	14,813

1.Includes variable lease costs, which are not significant.

Supplemental cash flow information related to leases is as follows:



	Twelve Months Ended December 31, 2025		Twelve Months Ended December 31, 2024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	11,579	$	8,797

Financing cash flows from finance leases	$	132	$	107

Supplemental balance sheet information related to leases is as follows:


	Balance Sheet Location	December 31, 2025			December 31, 2024
Operating Leases
Right-of-use assets, net	Operating lease right-of-use asset, net	$	36,755		$	29,931

Current liabilities	Current operating lease liabilities	7,914			8,033
Non-current liabilities	Long-term operating lease liabilities	29,833			22,795
Total operating lease liabilities		$	37,747		$	30,828

Finance Leases


Right-of-use assets, net	Other assets	$	402		$	97

Current liabilities	Accrued liabilities and other	99			57
Non-current liabilities	Other long-term liabilities	316			37
Total finance lease liabilities		$	415		$	94

Weighted Average Remaining Lease Term
Operating leases		7.3 years			6.7 years
Finance leases		4.0 years			1.7 years
Weighted Average Discount Rate
Operating leases		12.3		%	12.7		%
Finance leases		11.8		%	8.6		%

As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at the lease commencement date in determining the present value of the lease payments. We utilize an incremental borrowing rate, which is reflective of the specific term of the leases and economic environment of each geographic region, and apply a portfolio approach for certain machinery and equipment that have consistent terms in a specific geographic region.

Anticipated future lease costs, which are based in part on certain assumptions to approximate minimum annual rental commitments under non-cancelable leases, are as follows:


Year Ending December 31,	Operating		Financing		Total
2026	$	11,790	$	139	$	11,929
2027	8,619		117		8,736
2028	6,864		110		6,974
2029	5,505		105		5,610
2030	5,071		37		5,108
Thereafter	19,719		—		19,719
Total lease payments	$	57,568	$	508	$	58,076
Less: Imputed interest	(19,821)		(93)		(19,914)
Present value of lease liabilities	$	37,747	$	415	$	38,162

Leases

The components of lease expense are as follows:


	Twelve Months Ended December 31,
		2025		2024

Operating lease cost		$	12,966	$	10,289
Finance lease cost:
Amortization of right-of-use assets		109		92
Interest on lease liabilities		32		9
Finance lease cost		$	141	$	101
Short-term lease cost 1		4,262		4,423
Total lease expense		$	17,369	$	14,813

1.Includes variable lease costs, which are not significant.

Supplemental cash flow information related to leases is as follows:



	Twelve Months Ended December 31, 2025		Twelve Months Ended December 31, 2024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	11,579	$	8,797

Financing cash flows from finance leases	$	132	$	107

Supplemental balance sheet information related to leases is as follows:


	Balance Sheet Location	December 31, 2025			December 31, 2024
Operating Leases
Right-of-use assets, net	Operating lease right-of-use asset, net	$	36,755		$	29,931

Current liabilities	Current operating lease liabilities	7,914			8,033
Non-current liabilities	Long-term operating lease liabilities	29,833			22,795
Total operating lease liabilities		$	37,747		$	30,828

Finance Leases


Right-of-use assets, net	Other assets	$	402		$	97

Current liabilities	Accrued liabilities and other	99			57
Non-current liabilities	Other long-term liabilities	316			37
Total finance lease liabilities		$	415		$	94

Weighted Average Remaining Lease Term
Operating leases		7.3 years			6.7 years
Finance leases		4.0 years			1.7 years
Weighted Average Discount Rate
Operating leases		12.3		%	12.7		%
Finance leases		11.8		%	8.6		%

Anticipated future lease costs, which are based in part on certain assumptions to approximate minimum annual rental commitments under non-cancelable leases, are as follows:


Year Ending December 31,	Operating		Financing		Total
2026	$	11,790	$	139	$	11,929
2027	8,619		117		8,736
2028	6,864		110		6,974
2029	5,505		105		5,610
2030	5,071		37		5,108
Thereafter	19,719		—		19,719
Total lease payments	$	57,568	$	508	$	58,076
Less: Imputed interest	(19,821)		(93)		(19,914)
Present value of lease liabilities	$	37,747	$	415	$	38,162