Leases

3 Months Ended

Mar. 31, 2026

We have operating and finance leases for corporate and business offices, service facilities, call centers and certain equipment. Leases with an initial term of 12 months or less are generally not recorded on the balance sheet, unless the arrangement includes an option to purchase the underlying asset, or an option to renew the arrangement, that we are reasonably certain to exercise (short-term lease). Our leases have remaining lease terms of one to seven years, some of which may include options to extend the leases for up to an additional five years.

As of March 31, 2026, assets recorded under finance and operating leases were approximately $0.6 million and $18.9 million, respectively, and accumulated amortization associated with finance leases was $0.3 million. As of December 31, 2025, assets recorded under finance and operating leases were approximately $0.6 million and $19.2 million, respectively, and accumulated amortization associated with finance leases was $0.3 million. Operating lease right of use assets and lease liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. The discount rate used to determine the commencement date present value of lease payment is the interest rate implicit in the lease, or when that is not readily determinable, we utilize our incremental borrowing rate, which is the rate incurred to borrow on a collateralized basis over a similar term at an amount equal to the lease payments in a similar economic environment. Certain adjustments to the right-of-use asset may be required for items such as initial direct costs paid or incentives received.

There was no impairment of leases during the three months ended March 31, 2026 and 2025.

The following table presents supplemental balance sheet information related to our financing and operating leases:


	As of March 31, 2026
In thousands	Operating Leases		Finance Leases		Total
Right-of-use Assets	$	18,945	$	562	$	19,507

Liabilities
Short-term lease liabilities	3,796		169		3,965
Long-term lease liabilities	17,618		432		18,050
Total Lease Liabilities	$	21,414	$	601	$	22,015


	As of December 31, 2025
In thousands	Operating Leases		Finance Leases		Total
Right-of-use Assets	$	19,247	$	607	$	19,854

Liabilities:
Short-term lease liabilities	3,376		167		3,543
Long-term lease liabilities	18,400		461		18,861
Total Lease Liabilities	$	21,776	$	628	$	22,404

For the three months ended March 31, 2026 and 2025, the components of lease expense were as follows:


	Three Months Ended March 31,
In thousands	2026		2025
Operating lease cost	$	1,173	$	1,265

Finance lease cost:
Amortization of right-of-use assets	43		45
Interest on lease liabilities	12		15
Total Finance lease cost	55		60
Variable lease cost	330		407

Total lease cost, net	$	1,558	$	1,732

Other information related to leases was as follows:


	Three Months Ended March 31,
In thousands	2026		2025
Supplemental Cash Flows Information

Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	2,160	$	2,447
Operating cash flows from finance leases	11		14
Financing cash flows from finance leases	41		40

Weighted Average Remaining Lease term:
Operating leases	5.2		6.2
Finance leases	3.4		4.3

Weighted Average Discount Rate:
Operating leases	5.91%		5.75%
Finance leases	7.77%		7.77%

The maturities of the Company’s finance and operating lease liabilities as of March 31, 2026 are as follows:


In thousands	Operating Leases		Finance Leases
Year Ending December 31,
Remainder of 2026	$	3,641	$	155
2027	4,717		206
2028	4,537		206
2029	4,579		113
2030	4,484		—
2031 and beyond	3,116		—
Total future minimum lease payments	25,074		680
Less: imputed interest	3,660		79
Total lease liabilities	$	21,414	$	601

Leases

There was no impairment of leases during the three months ended March 31, 2026 and 2025.

The following table presents supplemental balance sheet information related to our financing and operating leases:


	As of March 31, 2026
In thousands	Operating Leases		Finance Leases		Total
Right-of-use Assets	$	18,945	$	562	$	19,507

Liabilities
Short-term lease liabilities	3,796		169		3,965
Long-term lease liabilities	17,618		432		18,050
Total Lease Liabilities	$	21,414	$	601	$	22,015


	As of December 31, 2025
In thousands	Operating Leases		Finance Leases		Total
Right-of-use Assets	$	19,247	$	607	$	19,854

Liabilities:
Short-term lease liabilities	3,376		167		3,543
Long-term lease liabilities	18,400		461		18,861
Total Lease Liabilities	$	21,776	$	628	$	22,404

For the three months ended March 31, 2026 and 2025, the components of lease expense were as follows:


	Three Months Ended March 31,
In thousands	2026		2025
Operating lease cost	$	1,173	$	1,265

Finance lease cost:
Amortization of right-of-use assets	43		45
Interest on lease liabilities	12		15
Total Finance lease cost	55		60
Variable lease cost	330		407

Total lease cost, net	$	1,558	$	1,732

Other information related to leases was as follows:


	Three Months Ended March 31,
In thousands	2026		2025
Supplemental Cash Flows Information

Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	2,160	$	2,447
Operating cash flows from finance leases	11		14
Financing cash flows from finance leases	41		40

Weighted Average Remaining Lease term:
Operating leases	5.2		6.2
Finance leases	3.4		4.3

Weighted Average Discount Rate:
Operating leases	5.91%		5.75%
Finance leases	7.77%		7.77%

The maturities of the Company’s finance and operating lease liabilities as of March 31, 2026 are as follows:


In thousands	Operating Leases		Finance Leases
Year Ending December 31,
Remainder of 2026	$	3,641	$	155
2027	4,717		206
2028	4,537		206
2029	4,579		113
2030	4,484		—
2031 and beyond	3,116		—
Total future minimum lease payments	25,074		680
Less: imputed interest	3,660		79
Total lease liabilities	$	21,414	$	601