Leases

9 Months Ended

Sep. 30, 2026

LEASES

The Company has various operating leases for office space and vehicles that expire through 2035. The lease agreements generally do not contain any material residual value guarantees or material restrictive covenants. Some leases include one or more options to renew. The exercise of lease renewal options is typically at the Company's sole discretion; therefore, the majority of renewals to extend the lease terms are not included in the Company's right-of-use assets and lease liabilities, as they are not reasonably certain of exercise. The Company regularly evaluates the renewal options, and, when it is reasonably certain of exercise, it will include the renewal period in its lease term.

Below is a summary of the Company's operating right-of-use assets and operating lease liabilities (in thousands):


	September 30, 2026
	(unaudited)
Operating lease right-of-use assets	$	62,113

Operating lease liabilities, current	$	13,807
Operating lease liabilities, long-term	60,513
Total operating lease liabilities	$	74,320

Operating lease liabilities, current are included within accrued expenses and other short-term liabilities in the condensed consolidated balance sheets.

Minimum lease payments for the Company's right-of-use assets over the remaining lease periods as of September 30, 2026, are as follows (in thousands):


	September 30, 2026
	(unaudited)
2026	$	5,750
2027	20,531
2028	13,865
2029	13,184
2030	12,195
Thereafter	26,918
Total undiscounted lease payments	$	92,443

Less: Imputed interest	$	(18,123)
Present value of lease liabilities	$	74,320