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Leases (Tables)

9 Months Ended

Sep. 30, 2025

Leases [Abstract]

Summary of Components of Lease Expense

The components of lease expense were as follows (in thousands):


		For the Three Months Ended September 30,
		2025				2024
Operating lease cost		$	1,776			$	2,902
Short-term lease cost			444				291
Variable lease cost			880				1,311
Sublease income			—				(133	)
Total lease cost		$	3,100			$	4,371


		For the Nine Months Ended September 30,
		2025				2024
Operating lease cost		$	6,096			$	8,893
Short-term lease cost			1,259				737
Variable lease cost			3,203				3,579
Sublease income			—				(394	)
Total lease cost		$	10,558			$	12,815

Summary of Additional Lease Information

Additional lease information is summarized in the following table (in thousands, except lease term and discount rate):


		For the Nine Months Ended September 30,
		2025				2024
Cash paid for amounts included in the measurement of operating lease liabilities		$	8,534			$	10,948
Operating lease ROU assets obtained in exchange for lease obligations		$	9,899			$	408
Weighted-average remaining lease term - operating leases (years)			9.0				3.8
Weighted-average discount rate - operating leases			5.1	%			4.2	%

Summary of Future Minimum Lease Payments Under Non-Cancelable Leases

Future minimum lease payments under non-cancelable leases as of September 30, 2025 are as follows (in thousands):


		Operating Lease				Tenant Improvement				Net Undiscounted
		Payments				Allowance				Cash Flows
2025 (remainder)		$	2,844			$	(342	)		$	2,502
2026			7,590				(16,809	)			(9,219	)
2027			8,273				—				8,273
2028			6,547				—				6,547
2029			6,623				—				6,623
Thereafter			44,223				—				44,223
Total			76,100				(17,151	)			58,949
Less imputed interest											(19,661	)
Present value of lease liabilities										$	39,288

Summary of Lease Balances

Lease balances as of September 30, 2025 are as follows (in thousands):


Operating lease ROU assets		$	31,885

Short-term operating lease liabilities (1)		$	7,496
Non-current operating lease liabilities			31,792
Total operating lease liabilities		$	39,288

(1)

Included in accrued expenses and other current liabilities in the Consolidated Balance Sheets.