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Leases

12 Months Ended

Dec. 31, 2025

Leases

Leases

9.Leases

The Company enters into leases as a lessee for data centers, office space, and technology equipment.  Lease expense associated with these arrangements are included in other selling, general and administrative expenses in the Company’s combined and consolidated statements of operations.

The components of lease expense for the year ended December 31, 2025, 2024 and 2023, are presented as follows (in thousands):

​	​	​	​	​	​	​	​	​	​
​	​	For the Year Ended December 31,
​	​ ​ ​	2025		​ ​ ​	2024		​ ​ ​	2023
Operating lease costs	​	$	2,173	​	$	1,587	​	$	1,489
Total lease costs	​	$	2,173	​	$	1,587	​	$	1,489

​

​

The following table provides supplemental combined and consolidated balance sheet information related to leases as of December 31, 2025, and December 31, 2024 (in thousands, except lease term and discount rate):

​	​	​	​	​	​	​	​	​	​
​	​	​	​	As of December 31,		​	As of December 31,		​
​	​ ​ ​	Classification	​ ​ ​	2025		​ ​ ​	2024		​ ​ ​
Assets	​	​	​	​	​	​	​	​	​
Operating lease right-of-use assets	​	Other assets	​	$	3,658	​	$	4,449	​
Total lease right-of-use assets	​	​	​	$	3,658	​	$	4,449	​
​	​	​	​	​	​	​	​	​	​
Liabilities	​	​	​	​	​	​	​	​	​
Operating lease liabilities	​	Other liabilities	​	$	4,179	​	$	4,860	​
Total lease liabilities	​	​	​	$	4,179	​	$	4,860	​
​	​	​	​	​	​	​	​	​	​
Weighted-average remaining lease term (in years)	​	​	​	​	4.8	​	​	5.5	​
Weighted-average discount rate	​	​	​	​	7.6	%	​	7.5	%

​

Minimum future payments on non-cancellable operating leases as of December 31, 2025, are summarized as follows (in thousands):

​	​	​	​
​	​ ​ ​	Operating Leases
2026	​	$	1,277
2027	​	​	1,208
2028	​	​	821
2029	​	​	553
2030	​	​	522
Thereafter	​	​	642
Total undiscounted lease payments	​	​	5,023
Less: imputed interest	​	​	(844)
Lease obligations under operating leases	​	$	4,179

​

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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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