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v3.26.1

Leases (Q1) (Tables) | 3 Months Ended | 12 Months Ended
--- | --- | ---
Mar. 31, 2026 | Dec. 31, 2025
Leases |  |
Schedule of future minimum rental payments for operating leases |
(in thousands) |  |  |
2026 |  |  | $900
2027 |  |  | 1,233
2028 |  |  | 1,270
2029 |  |  | 1,308
2030 |  |  | 1,348
Thereafter |  |  | 1,388
Total undiscounted lease payments |  |  | 7,447
Less: imputed interest |  |  | (1,692)
Total lease liabilities |  |  | $5,755
(in thousands) |  |  |
2026 |  |  | $3,757
2027 |  |  | 3,863
2028 |  |  | 3,973
2029 |  |  | 4,085
2030 |  |  | 4,200
Thereafter |  |  | 17,421
Total undiscounted lease payments |  |  | 37,299
Less: imputed interest |  |  | (13,289)
Total lease liabilities |  |  | $24,010
Summary of operating leases |
|  |  | Three Months Ended
(in thousands) |  |  | March 31, 2026 |  |  | March 31, 2025
Operating lease expense |  |  | $476 |  |  | $880
Variable lease expense |  |  | 326 |  |  | 538
|  |  | $802 |  |  | $1,418
|  |  | Three Months Ended
|  |  | March 31, 2026 |  |  | March 31, 2025
Weighted-average discount rate |  |  | 9.0% |  |  | 9.7%
Weighted-average remaining lease term (years) |  |  | 5.8 |  |  | 10.0
|  |  | Three Months Ended
(in thousands) |  |  | March 31, 2026 |  |  | March 31, 2025
Sublease rental income |  |  | $356 |  |  | $367
|  |  | Year Ended
(in thousands) |  |  | December 31, 2025 |  |  | December 31, 2024
Operating lease cost |  |  | $3,419 |  |  | $3,505
Variable lease cost |  |  | 2,103 |  |  | 2,127
|  |  | $5,522 |  |  | $5,632
|  |  | Year Ended
|  |  | December 31, 2025 |  |  | December 31, 2024
Weighted-average discount rate |  |  | 9.7% |  |  | 9.7%
Weighted-average remaining lease term (years) |  |  | 9.3 |  |  | 10.2
|  |  | Year Ended
(in thousands) |  |  | December 31, 2025 |  |  | December 31, 2024
Sublease rental income |  |  | $1,467 |  |  | $987

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-4 + Details
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- References No definition available. + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-6 + Details
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