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Leases

12 Months Ended

Dec. 31, 2025

Leases

Leases

8. Leases

We have operating leases for office space, temporary housing, storage and shops. Our leases have remaining lease terms of less than one year to approximately seven years and most include options to extend the lease term, at our discretion, for an additional one to ten years. We are not, however, reasonably certain that we will exercise any of the options to extend them and as such, they have not been included in the remaining lease terms.

Financial and other supplemental information related to our operating leases is as follows:

​

​	​	​	​	​	​	​	​	​
​	​	​	​ ​ ​	December 31,
(in thousands)	​ ​ ​	Classification	​ ​ ​	2025		​ ​ ​	2024
ROU assets		Operating lease ROU assets	​	$	13,581	​	$	15,365
​	​	​	​	​	​	​	​	​
Lease liabilities		​	​		​	​		​
Current		Accrued liabilities	​	$	4,314	​	$	4,121
Noncurrent		Operating lease liabilities	​		10,220	​		12,415
Total lease liabilities		​	​	$	14,534	​	$	16,536

​

​

​	​	​	​	​	​	​	​	​	​
​	​	Year Ended December 31,
(in thousands)	​	2025		​	2024		​	2023
Operating lease cost	​	$	5,620	​	$	4,607	​	$	4,131
Short-term lease cost	​		872	​		390	​		412
Variable lease cost	​		2,446	​		1,901	​		1,881
Total lease cost	​	$	8,938	​	$	6,898	​	$	6,424

​

​	​	​	​	​	​	​	​	​	​
​	​	Year Ended December 31,
(in thousands)	​	2025		​	2024		​	2023
Operating cash flows - cash paid for amounts included in the measurement of operating lease liabilities	​	$	5,837	​	$	6,692	​	$	6,157
Operating lease ROU assets obtained in exchange for lease liabilities, net (1)	​		2,848	​		5,120	​		710

(1) Includes decreases to our ROU assets of $0.9 million, and $0.4 million related to lease modifications during 2025 and 2023 respectively. There were no lease modifications during 2024 that resulted in decreases to our ROU assets.

​

​	​	​	​	​	​	​	​
​	​	December 31,					​
​	​	2025	​	2024	​	2023	​
Weighted-average remaining lease term (in years)	​	4.2	​	4.9	​	6.0	​
Weighted-average discount rate	​	5.9	%	5.6	%	4.9	%

​

Remaining maturities of our lease liabilities as of December 31, 2025 are as follows:

​

​	​	​	​
(in thousands)	​	​	​
2026	​	$	4,675
2027	​	​	3,658
2028	​		2,950
2029	​		2,771
2030	​	​	1,902
Thereafter	​		435
Total lease payments	​		16,391
Less: Interest	​		(1,857)
Total lease liabilities	​	$	14,534

​

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- References

No definition available.

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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

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