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LEASES
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
LEASES LEASES
We have various non-cancellable operating leases for our office spaces and operational assets with lease periods expiring between 2023 and 2032. During the year ended December 31, 2024, we recognized additional right-of-use assets and lease liabilities of $1.6 million related to a new lease agreement for office space. There were no new lease agreements for office space during the year ended December 31, 2025.
During the year ended December 31, 2025 and 2024, there were no impairments on any of our leases. Refer to Note 15—Segments for more information on our operating segments.
During the year ended December 31, 2025 and 2024, respectively, we made cash payments of $2.8 million and $2.3 million for operating leases which are included in cash flows used in operating activities in our consolidated statement of cash flows.
Lease assets and liabilities, net, are as follows (in thousands):
December 31,
Lease TypeConsolidated Balance Sheets Location20252024
Operating lease assetsRight-of-use assets under operating leases, net$4,947 $6,341 
Total lease assets4,947 6,341 
Operating lease liabilities, currentCurrent operating lease liabilities1,607 2,025 
Operating lease liabilities, long-termLong-term operating lease liabilities4,787 6,034 
Total lease liabilities$6,394 $8,059 

The following table summarizes activity related to our leases (in thousands):
December 31,
20252024
Operating lease expense$2,600 $2,822 
Variable lease expense559 693 
Short-term lease expense168 1,058 

The following table presents our weighted average borrowing rates and weighted average lease terms:
December 31,
 20252024
Operating leases:
Weighted average borrowing rate7.2 %7.3 %
Weighted average remaining lease term (years)3.063.81

The following table summarizes future maturities of lease liabilities as of December 31, 2025 (in thousands):
Fiscal YearOperating Leases
2026$2,321 
20272,211 
20281,491 
20291,122 
Thereafter1,784 
Total lease payments8,929 
Imputed interest2,535 
Total lease liabilities$6,394