XML 28 R16.htm IDEA: XBRL DOCUMENT v3.25.2
LEASES
 6 Months Ended
Jun. 30, 2025
Leases [Abstract]  
LEASES LEASES
The Company leases facilities under operating leases with various expiration dates through 2032. The Company leases office space in New York, Israel and several other locations.
The security deposits for the leases are $3.1 million and $3.3 million as of June 30, 2025 and December 31, 2024, respectively, which have been recognized as restricted cash, non-current in the unaudited condensed consolidated balance sheets.
The Company’s operating lease expense consists of rent and variable lease payments. Variable lease payments such as common area maintenance were included in operating expenses. Rent expense for the Company’s short-term leases was immaterial for the periods presented. Operating lease expense was as follows (in thousands):

Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Rent expense$2,734$2,938$5,573$5,849
Variable lease payments$130$80$264$174
Sublease income (1)$1,310$1,003$2,474$2,008
(1) The Company entered into sublease agreements for certain leased office space, and the amounts were included in other expense, net in the unaudited condensed consolidated statements of income.

Supplemental information related to the Company’s operating leases was as follows ($ in thousands):
June 30, 2025December 31, 2024
Weighted-average remaining lease term (in years)5.45.8
Weighted-average discount rate9.0 %9.1 %
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Operating lease right-of-use assets recognized in exchange for new operating lease obligations
$(113)$— $(113)$(219)

Maturities of the Company’s operating lease liabilities as of June 30, 2025 were as follows (in thousands):

2025$4,861 
20269,765 
20278,310 
20285,604 
20295,697 
Thereafter10,921 
Total45,158 
Less: imputed interest(9,074)
Total operating lease liabilities$36,084