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v3.25.4

Leases | 12 Months Ended
--- | ---
Dec. 31, 2025
Leases [Abstract] |
Leases | 10 — Leases The following table summarizes the components of the Company's operating lease expense for the years ended December 31, 2025, 2024, and 2023:
|  |  |  | Year ended December 31,
|  |  |  |  |  | 2025 |  | 2024 |  | 2023
|  |  |  |  |  | in thousands
Operating lease expense (1) |  |  |  |  |  | $ | 8,911 |  |  | $ | 8,053 |  |  | $ | 11,681 |
Variable lease expense (1) (2) |  |  |  |  |  | 3,641 |  |  | 3,570 |  |  | 4,685 |
Sublease revenue (3) |  |  |  |  |  | (1,062) |  |  | (1,283) |  |  | (704) |
Lease cost, net |  |  |  |  |  | $ | 11,490 |  |  | $ | 10,340 |  |  | $ | 15,662 |
(1) Classified within "General and administrative expenses" in the Consolidated Statements of Operations. (2) Includes maintenance, taxes, insurance, and payments affected by the CPI. (3) Classified within "Membership and other revenue" in the Consolidated Statements of Operations. The following table summarizes supplemental balance sheet information related to operating leases as of December 31, 2025 and 2024:
|  | December 31,
|  | 2025 |  | 2024
| in thousands
ROU assets obtained in exchange for new operating lease liabilities | $ | 2,446 |  |  | $ | 1,317 |
Weighted average lease term | 7.48 |  | 8.23
Weighted average discount rate | 5.1 | % |  | 5.0 | %
The following table summarizes information about the amount and timing of the Company's future operating lease commitments as of December 31, 2025:
| in thousands
2026 | $ | 8,979 |
2027 | 8,526 |
2028 | 8,453 |
2029 | 6,672 |
2030 | 5,379 |
Thereafter | 17,396 |
Total lease payments | 55,405 |
Less: imputed interest | (9,723) |
Total lease liabilities | $ | 45,682 |

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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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