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Leases (Tables)
12 Months Ended
Dec. 31, 2024
Summary of Operating Lease Costs

The following table summarizes operating lease costs as well as sublease income (in thousands):

 

 

Years Ended December 31,

 

 

 

2024

 

 

2023

 

 

2022

 

Operating lease costs

 

$

21,649

 

 

$

22,063

 

 

$

19,536

 

Variable lease costs

 

 

6,295

 

 

 

5,777

 

 

 

4,364

 

Short-term lease costs

 

 

9,000

 

 

 

9,000

 

 

 

307

 

Sublease income

 

 

 

 

 

 

 

 

(1,319

)

Total

 

$

36,944

 

 

$

36,840

 

 

$

22,888

 

Summary of Lease Term and Discount Rate

The following table summarizes the lease term and discount rate for operating leases:

 

 

December 31,
2024

 

 

December 31,
2023

 

Weighted-average remaining lease term (years)

 

 

9.5

 

 

 

10.3

 

Weighted-average discount rate

 

 

7.3

%

 

 

7.6

%

Summary of Lease Costs Included in Measurement of Lease Liabilities

The following table summarizes the lease costs included in the measurement of lease liabilities (in thousands):

 

 

Years Ended December 31,

 

 

 

2024

 

 

2023

 

 

2022

 

Operating cash flows used for operating leases

 

$

24,981

 

 

$

22,603

 

 

$

19,052

 

Operating lease liabilities arising from obtaining ROU assets

 

 

(1,626

)

 

 

3,852

 

 

 

41,050

 

 

Summary of Future Maturity of Operating Leases

At December 31, 2024, the future maturity of the Company’s operating leases for each of the next five years and total thereafter were as follows (in thousands):

2025

 

$

24,360

 

2026

 

 

22,526

 

2027

 

 

23,157

 

2028

 

 

23,374

 

2029

 

 

22,147

 

Thereafter

 

 

112,167

 

Undiscounted lease payments

 

 

227,731

 

Less: imputed interest

 

 

(66,306

)

Total operating lease liabilities

 

$

161,425