v3.25.4
Leases (Tables)
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Schedule of Assets and Liabilities Leases
Operating and financing lease right-of-use assets and lease liabilities as of December 31, 2025 and 2024, were as follows (in thousands):
Years Ended
December 31,
20252024
Operating Leases:
Operating lease right-of-use assets, net 1, 2
$108,541 $122,489 
Current operating lease liabilities(22,000)(19,642)
Non-current operating lease liabilities(106,935)(124,523)
Total operating lease liabilities(128,935)(144,165)
Finance Leases:
Finance lease right-of-use assets, net 2, 3, 4
4,932 3,214 
Current finance lease liabilities 5
(1,370)(981)
Non-current finance lease liabilities 6
(3,848)(2,450)
Total finance lease liabilities(5,218)(3,431)
Total lease liabilities$(134,153)$(147,596)
1 These assets primarily include leases for facilities, the Energy Server systems, and vehicles.
2 Net of accumulated amortization.
3 These assets primarily include leases for vehicles.
4 Included in property, plant and equipment, net in the consolidated balance sheets.
5 Included in accrued expenses and other current liabilities in the consolidated balance sheets.
6 Included in other long-term liabilities in the consolidated balance sheets.
Schedule of Lease, Cost
The components of our lease costs for the years ended December 31, 2025, 2024 and 2023, were as follows (in thousands):
Years Ended
December 31,
202520242023
Operating lease costs$31,994 $35,814 $33,190 
Financing lease costs:
Amortization of right-of-use assets665 675 891 
Interest on lease liabilities359 263 273 
Total financing lease costs1,024 938 1,164 
Short-term lease costs2,460 98 517 
Total lease costs$35,478 $36,850 $34,871 
Weighted average remaining lease terms and discount rates for our leases as of December 31, 2025 and 2024, were as follows:
December 31,
20252024
Weighted average remaining lease term:
Operating leases6 years6.7 years
Finance leases3.8 years3.7 years
Weighted average discount rate:
Operating leases10.5 %10.6 %
Finance leases9.0 %9.2 %
Schedule of Finance Lease, Liability, Fiscal Year Maturity
Future lease payments under lease agreements as of December 31, 2025, were as follows (in thousands):
Operating LeasesFinance Leases
2026$34,031 $1,779 
202733,477 1,629 
202828,062 1,300 
202921,425 982 
203019,203 447 
Thereafter41,117 — 
Total minimum lease payments177,315 6,137 
Less: amounts representing interest or imputed interest(48,380)(919)
Present value of lease liabilities$128,935 $5,218 
At December 31, 2025, future lease payments under the Managed Services Agreements financing obligations were as follows (in thousands):
Financing Obligations
2026$23,793 
202717,930 
202812,270 
20297,642 
20305,889 
Thereafter14,008 
Total minimum lease payments81,532 
Less: imputed interest(38,275)
Present value of net minimum lease payments43,257 
Less: current financing obligations(10,196)
Long-term financing obligations$33,061 
Schedule of Lessee, Operating Lease, Liability, Maturity
Future lease payments under lease agreements as of December 31, 2025, were as follows (in thousands):
Operating LeasesFinance Leases
2026$34,031 $1,779 
202733,477 1,629 
202828,062 1,300 
202921,425 982 
203019,203 447 
Thereafter41,117 — 
Total minimum lease payments177,315 6,137 
Less: amounts representing interest or imputed interest(48,380)(919)
Present value of lease liabilities$128,935 $5,218 
At December 31, 2025, future lease payments under the Managed Services Agreements financing obligations were as follows (in thousands):
Financing Obligations
2026$23,793 
202717,930 
202812,270 
20297,642 
20305,889 
Thereafter14,008 
Total minimum lease payments81,532 
Less: imputed interest(38,275)
Present value of net minimum lease payments43,257 
Less: current financing obligations(10,196)
Long-term financing obligations$33,061