Annual report [Section 13 and 15(d), not S-K Item 405]

Commitments and Contingencies (Tables)

v3.26.1
Commitments and Contingencies (Tables)
12 Months Ended
Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Summary of Components of Lease Expenses

The components of lease expense for the years ended December 31, 2025 and 2024 is as follows:

 

 

Year ended December 31,

 

 

Year Ended December 31,

 

 

2025

 

 

2024

 

Operating Lease Cost

 

$

6,246

 

 

$

6,122

 

Financing Lease Cost:

 

 

 

 

 

 

Amortization of ROU assets

 

 

133

 

 

 

122

 

Interest on lease liabilities

 

 

13

 

 

 

13

 

Total

 

 

146

 

 

 

135

 

 

Summary of Future Minimum Lease Payments and Rentals under Lease Agreements For Office Space

Future minimum lease payments and rentals under lease agreements for office space which expire through 2034 are as follows:

 

 

Minimum Lease
Commitments

 

 

Non-cancellable
Subleases

 

 

Minimum Net
Rentals

 

 2026

 

$

7,194

 

 

$

 

 

$

7,194

 

 2027

 

 

7,255

 

 

 

 

 

 

7,255

 

 2028

 

 

5,630

 

 

 

 

 

 

5,630

 

 2029

 

 

1,026

 

 

 

 

 

 

1,026

 

 2030

 

 

1,030

 

 

 

 

 

 

1,030

 

Thereafter

 

 

1,767

 

 

 

 

 

 

1,767

 

 

 

23,902

 

 

 

 

 

 

23,902

 

Weighted-average remaining lease term – operating leases (months)

 

 

 

 

 

 

 

 

45.9

 

Weighted-average discount rate

 

 

 

 

 

 

 

 

5.4

%

Assets Relating to Finance Leases Included in Equipment

The assets relating to finance leases that are included in equipment as of December 31, 2025 and 2024 are as follows:

 

 

December 31,
2025

 

 

December 31,
2024

 

Finance lease assets included in furniture and equipment

 

$

748

 

 

$

555

 

Less: Accumulated depreciation and amortization

 

 

(426

)

 

 

(301

)

 

$

322

 

 

$

254

 

 

Summary of Future Minimum Lease Payments under Finance Leases

Future minimum lease payments under finance leases are as follows:

 

 

Future Minimum Lease
Commitments

 

 2026

 

$

126

 

 2027

 

 

88

 

 2028

 

 

43

 

 2029

 

 

38

 

 2030

 

 

33

 

Thereafter

 

 

 

Total

 

$

328

 

Weighted-average remaining lease term – finance leases
   (months)

 

 

39.9

 

Weighted-average discount rate

 

 

6.6

%