Leases

9 Months Ended

Sep. 30, 2025

The Company’s operating leases consist of office facilities, office equipment, and automobiles. As of September 30, 2025, the Company’s leases have remaining terms of less than one year to eight years, some of which include one or more options to renew, with renewal terms from one year to five years and some of which include options to terminate the leases from less than one year to five years.

The components of operating lease cost reflected in the consolidated statements of operations were as follows:


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2025		2024		2025		2024
Operating lease cost (1)	$	3,653	$	4,146	$	11,230	$	11,399
Variable lease cost	1,207		1,261		3,384		3,549

Total operating lease cost	$	4,860	$	5,407	$	14,614	$	14,948

(1)Operating lease cost includes rent cost related to operating leases for office facilities of $3,422 and $3,884 for the three months ended September 30, 2025 and 2024, respectively, and $10,500 and $10,656 for the nine months ended September 30, 2025 and 2024, respectively.

Supplemental operating cash flows and other information related to leases was as follows:


	Nine Months Ended
	September 30,
	2025		2024
Cash paid for operating leases included in operating cash flows	$	12,153	$	11,314
Right-of-use assets obtained in exchange for new operating lease liabilities (1)	$	6,232	$	7,394

(1)For the nine months ended September 30, 2024, right‑of‑use assets obtained in exchange for new operating lease liabilities does not include the impact from an acquisition of $103.

The weighted average remaining lease term for operating leases was 4.0 years and 4.3 years as of September 30, 2025 and December 31, 2024, respectively. The weighted average discount rate was 5.4% and 5.2% as of September 30, 2025 and December 31, 2024, respectively.

As of September 30, 2025, the Company had additional minimum operating lease payments of $7,250 for executed leases that have not yet commenced, primarily for office locations.