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Leases | 9 Months Ended
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Sep. 30, 2025
Leases [Abstract] |
Leases | Leases The Company has operating leases for office space leased in various buildings for its own use. The Company's leases typically have terms ranging from 5 to 10 years. The Company's lease agreements do not contain any material residual value guarantees or material restrictive covenants. Lease costs related to the Company's operating leases are primarily reflected in "cost of revenue" in the consolidated statements of operations, as they are a reimbursable cost under the Company's respective asset management agreements. (See Note 12 for additional information). The following table summarizes operating lease costs by type (in thousands):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Operating lease costs |  |  |  |  |  |  |
Fixed lease costs | $ | 297 |  |  | $ | 297 |  |  | $ | 890 |  |  | $ | 890 |
Variable lease costs | 92 |  |  | 97 |  |  | 292 |  |  | 294 |
Total operating lease costs | $ | 389 |  |  | $ | 394 |  |  | $ | 1,182 |  |  | $ | 1,184 |
The following table presents supplemental cash flow information related to the Company's operating leases (in thousands):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Cash paid for lease liabilities: |  |  |  |  |  |  |
Operating cash flows from operating leases | $ | 390 |  |  | $ | 395 |  |  | $ | 1,186 |  |  | $ | 1,170 |
As of September 30, 2025, the Company's operating leases had a weighted-average remaining lease term of 5.0 years and a weighted-average discount rate of 4.65%. The following table summarizes future lease payments (in thousands):
Year Ending December 31, | Operating Leases
2025 (3 months) | $ | 302 |
2026 | 1,222 |
2027 | 1,204 |
2028 | 1,233 |
2029 | 1,262 |
Thereafter | 1,073 |
Total future lease payments | 6,296 |
Imputed interest | (708) |
Total lease liabilities | $ | 5,588 |
The Company does not have any leases which have not yet commenced as of September 30, 2025.

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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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