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Leases
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Leases
8. Leases

The components of lease expense are as follows (in thousands):
Year Ended December 31,
202520242023
Operating lease cost$24,754$12,682$12,618
Short-term lease cost1,650178630
Financing lease cost—1921
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, 2025December 31, 2024
Operating lease ROU assets$101,126$42,917
Operating lease liabilities, current24,75720,989
Operating lease liabilities, non-current95,99132,449
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,
202520242023
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, 2025December 31, 2024
Weighted average remaining lease term 6.6 years2.8 years
Weighted average discount rate6.71 %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
202719,860
202820,863
202920,769
203021,054
Thereafter42,720
Total future undiscounted lease payments150,774
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,
202520242023
Operating lease cost$24,754$12,682$12,618
Short-term lease cost1,650178630
Financing lease cost—1921
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, 2025December 31, 2024
Operating lease ROU assets$101,126$42,917
Operating lease liabilities, current24,75720,989
Operating lease liabilities, non-current95,99132,449
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,
202520242023
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, 2025December 31, 2024
Weighted average remaining lease term 6.6 years2.8 years
Weighted average discount rate6.71 %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
202719,860
202820,863
202920,769
203021,054
Thereafter42,720
Total future undiscounted lease payments150,774
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.