v3.25.4
LEASES (Tables)
12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Schedule of components of lease cost
The components of lease costs are as follows:
Year Ended
(in thousands)
December 31,
2025
December 31,
2024
December 31,
2023
Operating lease costs$17,767 $18,577 $24,357 
Variable lease costs4,061 4,666 3,676 
Total lease costs$21,828 $23,243 $28,033 
The Company’s weighted average remaining lease term and weighted average discount rate for operating leases were as follows:
As of December 31,
2025
2024
Weighted-average remaining lease term6.9 years7.3 years
Weighted average discount rate2.6 %2.5 %
Schedule of future undiscounted lease payments, operating leases
Future undiscounted lease payments under operating leases as of December 31, 2025 were as follows:
(in thousands)
Amount
2026$13,590 
20278,442 
20288,232 
20298,448 
20308,260 
Thereafter23,871 
Total undiscounted lease payments
70,843 
Less: Imputed interest
(6,290)
Less: Tenant improvement allowance*
(9,690)
Total operating lease liabilities
$54,863 
*Tenant improvement allowance is estimated to be received as follows: approximately $0.3 million in 2026 and $9.4 million thereafter.