Leases

12 Months Ended

Dec. 31, 2025

Leases [Abstract]

Leases

12. Leases

The following table presents the Company’s operating lease portfolio (dollars in thousands):

	December 31, 2025			December 31, 2024
ROU assets	$	17,566		$	20,533
Lease liabilities	25,669			28,474
Weighted average remaining lease term (in years)	7.13			7.91
Weighted average discount rate	6.43		%	6.41		%

The following table presents the Company’s net operating lease cost (in thousands):

	Year ended
	December 31,
	2025		2024
Operating lease cost	$	5,338	$	6,084
Short-term lease cost	40		171
Total operating and short-term lease cost	5,378		6,255
Variable lease cost	598		649
Sublease income	(3,395)		(2,150)
Net lease cost	$	2,581	$	4,754

The following table presents other information related to the Company’s operating leases (in thousands):

	Year ended
	December 31,
	2025		2024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	5,409	$	5,796
Leased assets obtained in exchange for new operating lease liabilities	905		1,322

The following table presents a maturity analysis of operating leases and a reconciliation of the undiscounted cash flows to lease liabilities as of December 31, 2025 (in thousands):

Year Ending December 31,	Amount
2026	$	5,462
2027	5,094
2028	3,722
2029	3,327
2030	3,360
Thereafter	11,503
Total undiscounted lease payments	32,468
Less: Amounts representing interest	(6,799)
Total lease liabilities	$	25,669