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LEASES | 9 Months Ended
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Sep. 30, 2025
Leases [Abstract] |
LEASES | LEASES The Company leases office space, corporate apartments, office equipment, and vehicles. Many of the Company’s leases contain variable payments including changes in base rent and charges for common area maintenance or other miscellaneous expenses. Due to this variability, the cash flows associated with these variable payments are not included in the minimum lease payments used in determining the right-of-use assets and associated lease liabilities and are recognized in the period in which the obligation for such payments is incurred. The Company’s leases have remaining lease terms ranging from 0.1 to 6.3 years. Certain lease agreements, mainly for office space, include options to extend or terminate the lease before the expiration date. The Company considers such options when determining the lease term when it is reasonably certain that the Company will exercise that option. The Company leases and subleases a portion of its office space to third parties. Lease income and sublease income were not material for the three and nine months ended September 30, 2025 and 2024. During the three and nine months ended September 30, 2025 and 2024, the components of lease cost were as follows:
|  |  |  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | Income Statement Classification |  | 2025 |  | 2024 |  | 2025 |  | 2024
Operating lease cost |  | Selling, general and administrative expenses |  | $ | 11,859 |  |  | $ | 10,893 |  |  | $ | 35,343 |  |  | $ | 32,579 |
Variable lease cost |  | Selling, general and administrative expenses |  | 3,112 |  |  | 2,913 |  |  | 9,287 |  |  | 7,981 |
Short-term lease cost |  | Selling, general and administrative expenses |  | 1,237 |  |  | 881 |  |  | 3,445 |  |  | 2,787 |
Total lease cost |  |  |  | $ | 16,208 |  |  | $ | 14,687 |  |  | $ | 48,075 |  |  | $ | 43,347 |
Supplemental cash flow information related to leases for the three and nine months ended September 30, 2025 and 2024 was as follows:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2025 |  | 2024 |  | 2025 |  | 2024
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |  |
Operating cash flows used for operating leases |  | $ | 12,703 |  |  | $ | 11,683 |  |  | $ | 37,349 |  |  | $ | 34,308 |
Right-of-use assets obtained in exchange for lease obligations: |  |  |  |  |  |  |  |
Operating leases |  | $ | 251 |  |  | $ | 837 |  |  | $ | 8,621 |  |  | $ | 11,823 |
Non-cash net increase due to lease modifications: |  |  |  |  |  |  |  |
Operating lease right-of-use assets |  | $ | 4,048 |  |  | $ | 5,103 |  |  | $ | 8,039 |  |  | $ | 11,342 |
Operating lease liabilities |  | $ | 4,045 |  |  | $ | 5,245 |  |  | $ | 8,015 |  |  | $ | 11,376 |
Weighted average remaining lease term and discount rate as of September 30, 2025 and 2024 were as follows:
|  | As of September 30, 2025 |  | As of September 30, 2024
Weighted average remaining lease term, in years: |  |  |  |
Operating leases |  | 3.9 |  | 4.6
Weighted average discount rate: |  |  |  |
Operating leases |  | 4.8 | % |  | 4.3 | %
As of September 30, 2025, operating lease liabilities will mature as follows:
Year ending December 31, |  | Lease Payments
2025 (excluding nine months ended September 30, 2025) |  | $ | 12,154 |
2026 |  | 42,959 |
2027 |  | 32,538 |
2028 |  | 25,754 |
2029 |  | 15,021 |
Thereafter |  | 13,235 |
Total lease payments |  | 141,661 |
Less: imputed interest |  | (11,480) |
Total |  | $ | 130,181 |
The Company had committed to payments of $7.0 million related to operating lease agreements that had not yet commenced as of September 30, 2025. These operating leases will commence on various dates during 2025 and 2026 with lease terms ranging from 6.0 to 7.0 years. The Company did not have any material finance lease agreements that had not yet commenced.

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating 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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