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Leases | 12 Months Ended
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Dec. 31, 2025
Leases [Abstract] |
Leases | 8. Leases The components of lease expense are as follows (in thousands):
| Year Ended December 31,
| 2025 |  | 2024 |  | 2023 |
Operating lease cost | $ | 24,754 |  | $ | 12,682 |  | $ | 12,618 |
Short-term lease cost | 1,650 |  | 178 |  | 630 |
Financing lease cost | — |  | 19 |  | 21 |
Total lease cost | $ | 26,404 |  | $ | 12,879 |  | $ | 13,269 |
Supplemental balance sheet information related to the Company’s operating leases is as follows (in thousands):
| As of,
| December 31, 2025 |  | December 31, 2024
Operating lease ROU assets | $ | 101,126 |  | $ | 42,917
Operating lease liabilities, current | 24,757 |  | 20,989
Operating lease liabilities, non-current | 95,991 |  | 32,449
Total lease liabilities | $ | 120,748 |  | $ | 53,438
Supplemental cash flow information and non-cash activity related to the Company’s leases are as follows (in thousands):
| Year Ended December 31,
| 2025 |  | 2024 |  | 2023
Cash paid for operating lease liabilities, net of tenant incentives received | $ | 15,653 |  | $ | 16,722 |  | $ | 15,197
ROU assets recognized for new leases and amendments (non-cash) | $ | 74,936 |  | $ | 17,039 |  | $ | 1,299
Other information related to leases is as follows:
| As of,
| December 31, 2025 |  | December 31, 2024
Weighted average remaining lease term | 6.6 years |  | 2.8 years
Weighted average discount rate | 6.71 | % |  | 5.13 | %
Future undiscounted annual cash flows for the Company’s operating leases as of December 31, 2025 are as follows (in thousands):
Year Ending December 31, | Operating Leases
2026 | $ | 25,508
2027 | 19,860
2028 | 20,863
2029 | 20,769
2030 | 21,054
Thereafter | 42,720
Total future undiscounted lease payments | 150,774
Less imputed interest | (30,026)
Total lease liabilities | $ | 120,748
The table above does not include options to extend lease terms that are not reasonably certain of being exercised or leases signed but not yet commenced as of December 31, 2025. On January 31, 2025, the Company amended the lease agreement for its Boston corporate headquarters. The amendment (i) modified the lease term and payment terms for the existing leased premises and (ii) expanded the leased premises under the lease. The newly leased premises had phased lease commencement dates ranging from February 2025 to December 2025. The lease term for the existing and newly leased premises ends in March 2033.
Leases | 8. Leases The components of lease expense are as follows (in thousands):
| Year Ended December 31,
| 2025 |  | 2024 |  | 2023 |
Operating lease cost | $ | 24,754 |  | $ | 12,682 |  | $ | 12,618 |
Short-term lease cost | 1,650 |  | 178 |  | 630 |
Financing lease cost | — |  | 19 |  | 21 |
Total lease cost | $ | 26,404 |  | $ | 12,879 |  | $ | 13,269 |
Supplemental balance sheet information related to the Company’s operating leases is as follows (in thousands):
| As of,
| December 31, 2025 |  | December 31, 2024
Operating lease ROU assets | $ | 101,126 |  | $ | 42,917
Operating lease liabilities, current | 24,757 |  | 20,989
Operating lease liabilities, non-current | 95,991 |  | 32,449
Total lease liabilities | $ | 120,748 |  | $ | 53,438
Supplemental cash flow information and non-cash activity related to the Company’s leases are as follows (in thousands):
| Year Ended December 31,
| 2025 |  | 2024 |  | 2023
Cash paid for operating lease liabilities, net of tenant incentives received | $ | 15,653 |  | $ | 16,722 |  | $ | 15,197
ROU assets recognized for new leases and amendments (non-cash) | $ | 74,936 |  | $ | 17,039 |  | $ | 1,299
Other information related to leases is as follows:
| As of,
| December 31, 2025 |  | December 31, 2024
Weighted average remaining lease term | 6.6 years |  | 2.8 years
Weighted average discount rate | 6.71 | % |  | 5.13 | %
Future undiscounted annual cash flows for the Company’s operating leases as of December 31, 2025 are as follows (in thousands):
Year Ending December 31, | Operating Leases
2026 | $ | 25,508
2027 | 19,860
2028 | 20,863
2029 | 20,769
2030 | 21,054
Thereafter | 42,720
Total future undiscounted lease payments | 150,774
Less imputed interest | (30,026)
Total lease liabilities | $ | 120,748
The table above does not include options to extend lease terms that are not reasonably certain of being exercised or leases signed but not yet commenced as of December 31, 2025. On January 31, 2025, the Company amended the lease agreement for its Boston corporate headquarters. The amendment (i) modified the lease term and payment terms for the existing leased premises and (ii) expanded the leased premises under the lease. The newly leased premises had phased lease commencement dates ranging from February 2025 to December 2025. The lease term for the existing and newly leased premises ends in March 2033.

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- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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