Leases (Tables)

9 Months Ended

Sep. 30, 2024

Leases [Abstract]

Summary of Operating and Finance Lease Activities

The following table summarizes the operating and finance lease activities to the income statements for the three months ended September 30, 2024 and 2023 and the nine months ended September 30, 2024 and 2023, and balance sheets as of September 30, 2024 and December 31, 2024:

(in thousands)		Three months ended September 30,				Nine months ended September 30,
Operating lease cost	Classification	2024		2023		2024		2023
Operating lease cost	Occupancy and related expenses, and General and administrative expenses	$	2,996	$	2,971	$	8,774	$	8,643
Variable lease cost	Occupancy and related expenses, and General and administrative expenses		1,120		801		4,025		2,233
Total operating lease cost		$	4,116	$	3,772	$	12,799	$	10,876

Supplemental balance sheet information related to leases:
Operating leases (in thousands)	September 30, 2024		December 31, 2023
Operating lease assets	$	124,538	$	99,255
Operating lease liabilities, current		4,869		4,535
Operating lease liabilities, net of current portion		139,256		110,501
Total operating lease liabilities	$	144,125	$	115,036

Finance lease assets, net (in thousands)	September 30, 2024			December 31, 2023
Property and equipment	$	447		$	902
Accumulated depreciation		(446	)		(861	)
Property and equipment, net	$	1		$	41

Finance lease liabilities (in thousands)	September 30, 2024		December 31, 2023
Obligations under finance leases, current	$	34	$	125
Obligations under finance leases, net of current portion		—		—
Total finance lease liabilities	$	34	$	125

	September 30, 2024
Weighted-Average Remaining Lease Term (Years)
Operating leases		15.3
Finance leases		0.2
Weighted-Average Discount Rate
Operating leases		6.82	%
Finance leases		7.53	%

Schedule Maturities of Lease Liabilities

Maturities of lease liabilities as of September 30, 2024:

(in thousands)	Operating Leases			Finance Leases
2024 - remaining	$	3,097		$	34
2025		14,137			—
2026		14,614			—
2027		14,933			—
2028		15,161			—
Thereafter		191,778			—
Total undiscounted lease payments	$	253,720		$	34
Present value discount/interest		(109,595	)		—
Present value		144,125			34
Lease liabilities, current		4,869			34
Lease liabilities, net of current		139,256			—
Total operating lease liability	$	144,125		$	34

Gross Amounts of Property and Equipment and Related Accumulated Depreciation and Amortization Recorded under Finance Leases

On September 30, 2024 and September 30, 2023 the gross amounts of property and equipment and related accumulated depreciation and amortization recorded under finance leases were as follows:

(in thousands)	September 30, 2024			September 30, 2023
Property and equipment		447			902
Less accumulated depreciation and amortization		(446	)		(838	)
Property and equipment, net	$	1		$	64