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LEASES
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
LEASES LEASES
The Company is a lessee to leases of corporate offices and certain office equipment. The majority of leases for corporate offices include one or more options to renew, with renewal terms ranging from two to five years. These renewal options have not been included in the calculation of right-of-use assets and lease liabilities, as the Company is not reasonably certain of the exercise of these renewal options. The Company used its incremental borrowing rate to calculate the right-of-use asset and lease liability for each lease.
As of December 31, 2025, right-of-use assets totaled $31.7 million and lease liabilities, the current portion of which is included in accrued expenses and other current liabilities in the accompanying balance sheet, totaled $48.0 million. At December 31, 2024, right-of-use assets totaled $52.6 million and lease liabilities totaled $75.0 million.
Lease expense, which is included in general and administrative expense on the accompanying consolidated statements of operations and comprehensive income (loss), consists of the following (in thousands):
Year Ended December 31,
202520242023
Operating lease cost$7,954 $8,515 $9,506 
Short-term lease cost69 41 26 
Total lease cost$8,023 $8,556 $9,532 

Weighted average remaining lease term and discount rate for operating leases are as follows:
December 31, 2025December 31, 2024December 31, 2023
Weighted average remaining lease term10.2 years11.1 years11.6 years
Weighted average discount rate8.2 %5.1 %5.0 %

Supplemental cash flow information related to leases is as follows (in thousands):
Year Ended December 31,
202520242023
Net cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$9,879 $11,355 $13,705 
Right-of-use assets obtained in exchange for new operating lease liabilities$84 $17 $861 

Maturities of lease liabilities as of December 31, 2025 are as follows (in thousands):
 Operating Leases
Year ending December 31, 2026$8,186 
Year ending December 31, 20276,448 
Year ending December 31, 20286,017 
Year ending December 31, 20296,176 
Year ending December 31, 20306,339 
Thereafter39,856 
Total lease payments73,022 
Less: Interest25,031 
Present value of lease liabilities$47,991 
LEASES LEASES
The Company is a lessee to leases of corporate offices and certain office equipment. The majority of leases for corporate offices include one or more options to renew, with renewal terms ranging from two to five years. These renewal options have not been included in the calculation of right-of-use assets and lease liabilities, as the Company is not reasonably certain of the exercise of these renewal options. The Company used its incremental borrowing rate to calculate the right-of-use asset and lease liability for each lease.
As of December 31, 2025, right-of-use assets totaled $31.7 million and lease liabilities, the current portion of which is included in accrued expenses and other current liabilities in the accompanying balance sheet, totaled $48.0 million. At December 31, 2024, right-of-use assets totaled $52.6 million and lease liabilities totaled $75.0 million.
Lease expense, which is included in general and administrative expense on the accompanying consolidated statements of operations and comprehensive income (loss), consists of the following (in thousands):
Year Ended December 31,
202520242023
Operating lease cost$7,954 $8,515 $9,506 
Short-term lease cost69 41 26 
Total lease cost$8,023 $8,556 $9,532 

Weighted average remaining lease term and discount rate for operating leases are as follows:
December 31, 2025December 31, 2024December 31, 2023
Weighted average remaining lease term10.2 years11.1 years11.6 years
Weighted average discount rate8.2 %5.1 %5.0 %

Supplemental cash flow information related to leases is as follows (in thousands):
Year Ended December 31,
202520242023
Net cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$9,879 $11,355 $13,705 
Right-of-use assets obtained in exchange for new operating lease liabilities$84 $17 $861 

Maturities of lease liabilities as of December 31, 2025 are as follows (in thousands):
 Operating Leases
Year ending December 31, 2026$8,186 
Year ending December 31, 20276,448 
Year ending December 31, 20286,017 
Year ending December 31, 20296,176 
Year ending December 31, 20306,339 
Thereafter39,856 
Total lease payments73,022 
Less: Interest25,031 
Present value of lease liabilities$47,991