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Leases (Tables)

6 Months Ended

Jun. 30, 2026

Schedule of operating and finance lease right-of-use assets and related lease obligations


			June 30,			December 31,
Leases	Classification		2026			2025

Assets			(in thousands)
Operating leases	Operating lease assets		$	27,568		$	28,927
Finance lease	Finance lease assets*			13,516			14,154
Total leased assets			$	41,084		$	43,081
Liabilities
Current
Operating	Other current liabilities		$	4,664		$	4,859
Finance	Current portion of finance lease obligation			1,722			1,575
Non-current
Operating	Other long-term liabilities			23,578			24,613
Finance	Finance lease obligation			39,845			40,754
Total lease liabilities			$	69,809		$	71,801

*As of June 30, 2026, finance lease assets are recorded net of accumulated depreciation of $48.0 million and include $0.5 million of prepaid financing costs. As of December 31, 2025, finance lease assets are recorded net of accumulated depreciation of $47.7 million and include $0.5 million of prepaid financing costs.

Schedule of lease costs


			Three months ended						Six months ended
			June 30,						June 30,
Lease cost	Classification		2026			2025			2026			2025

Operating lease cost			(in thousands)
Product / services*	Cost of revenue		$	1,555		$	1,606		$	3,239		$	3,280
Research and development	Operating expenses			113			149			393			368
Sales and marketing*	Operating expenses			500			450			1,035			894
General and administrative*	Operating expenses			155			212			432			538
Total operating lease cost			$	2,323		$	2,417		$	5,099		$	5,080
Finance lease cost
Depreciation of leased assets	Cost of revenue, Research and development, Sales and marketing and General and administrative		$	319		$	321		$	638		$	643
Interest on lease liabilities	Interest expense			1,110			1,148			2,231			2,304
Total finance lease cost			$	1,429		$	1,469		$	2,869		$	2,947

Total lease cost			$	3,752		$	3,886		$	7,968		$	8,027

* Product / services, sales and marketing and general and administrative expense also includes short-term lease and variable lease costs of approximately $0.3 million and $1.0 million for the three and six months ended June 30, 2026, respectively, and includes short-term lease and variable lease costs of approximately $0.4 million and $1.0 million for the three and six months ended June 30, 2025, respectively.

Schedule of future minimum operating and finance leases


		Finance			Operating			Total
Maturity of Lease Liabilities		Leases			Leases			Leases

		(in thousands)
2026		$	3,009		$	3,302		$	6,311
2027			6,128			4,990			11,118
2028			6,251			3,551			9,802
2029			6,376			2,745			9,121
2030			6,503			2,679			9,182
Thereafter			42,456			20,219			62,675
Total lease payments		$	70,723		$	37,486		$	108,209
Less interest portion*			(29,156)			(9,244)			(38,400)
Finance lease and operating lease obligations		$	41,567		$	28,242		$	69,809

* Finance lease interest calculated using the implied interest rate; operating lease interest calculated using estimated corporate borrowing rate.

Schedule of weighted-average remaining lease term and discount rates


		June 30,
Lease term and discount rate		2026
Weighted average remaining lease term (years):
Operating leases			10.1
Finance leases			10.6
Weighted average discount rate:
Operating leases			5.3%
Finance leases			10.5%

Schedule of cash outflows by lease type



		Six months ended June 30,
Cash paid for amounts included in the measurement of lease liabilities		2026			2025

		(in thousands)
Operating cash outflows from operating leases		$	5,099		$	5,080
Operating cash outflows from finance leases			2,231			2,304
Financing cash outflows from finance leases			768			676
Operating lease assets obtained in exchange for operating lease liabilities			1,587			1,411
Finance lease assets obtained in exchange for new finance lease liabilities			—			—