For templates that are not open sourced, there are currently two licenses available for purchase. Gist: Developer is single use, Entrepreneur is multi-use, and both allow for ample commercial usage.

Developer License Entrepreneur License
Build a personal or commercial website
Build a website for a client
Build a SaaS application which users are charged for
Use for print
Use for education purposes
Build a desktop or mobile app using a wrapper
Build a progressive web app
Use in multiple end products
Sell or redistribute the template
Build a template or theme intended for redistribution
Full license Full license