Leases (Tables)
|
12 Months Ended |
Dec. 31, 2024 |
|---|
| Leases [Abstract] |
|
| Supplemental Lease Information |
Supplemental balance sheet information related to leases was as follows (in thousands, except lease term and discount rate):
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2024 |
|
December 31, 2023 |
| Operating leases |
|
|
|
| Assets |
|
|
|
| Operating lease right-of-use assets |
$ |
28,689 |
|
|
$ |
28,286 |
|
| Liabilities |
|
|
|
| Operating lease liabilities, current |
$ |
5,031 |
|
|
$ |
4,312 |
|
| Operating lease liabilities, non-current |
26,178 |
|
|
26,349 |
|
| Total operating lease liabilities |
$ |
31,209 |
|
|
$ |
30,661 |
|
|
|
|
|
| Finance leases |
|
|
|
| Assets |
|
|
|
| Financing lease right-of-use assets |
$ |
11,351 |
|
|
$ |
10,150 |
|
| Accumulated amortization |
(3,860) |
|
|
(2,701) |
|
| Financing lease right-of-use assets, net |
$ |
7,491 |
|
|
$ |
7,449 |
|
| Liabilities |
|
|
|
| Finance lease liabilities, current |
$ |
2,579 |
|
|
$ |
1,597 |
|
| Finance lease liabilities, non-current |
3,859 |
|
|
4,411 |
|
| Total finance lease liabilities |
$ |
6,438 |
|
|
$ |
6,008 |
|
|
|
|
|
|
|
|
|
|
|
December 31, 2024 |
December 31, 2023 |
| Weighted-average remaining lease term (years) |
|
|
| Operating leases |
9.5 years |
6.3 years |
| Finance leases |
3.4 years |
4.1 years |
|
|
|
| Weighted-average discount rate |
|
|
| Operating leases |
6.6 |
% |
6.9 |
% |
| Finance leases |
7.5 |
% |
7.7 |
% |
|
|
|
The table below presents certain supplemental information related to the cash flows for operating and finance leases recorded on the consolidated statements of cash flows:
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, |
|
2024 |
|
2023 |
| Cash paid for amounts included in the measurement of lease liabilities |
|
|
|
| Operating cash flows used for operating leases |
$ |
(6,446) |
|
|
$ |
(5,559) |
|
| Operating cash flows used for finance leases |
$ |
(389) |
|
|
$ |
(243) |
|
| Finance cash flows used for finance leases |
$ |
(2,156) |
|
|
$ |
(583) |
|
|
|
|
|
| Right-of-use assets obtained in exchange for lease obligations: |
|
|
|
| Operating lease liabilities |
$ |
5,115 |
|
|
$ |
5,652 |
|
| Finance lease liabilities |
$ |
2,537 |
|
|
$ |
5,221 |
|
|
| Schedule of Future Minimum Payments, Operating Leases |
Maturities of lease liabilities were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2024 |
|
Operating Leases |
|
Finance Leases |
| 2025 |
$ |
6,945 |
|
|
$ |
3,010 |
|
| 2026 |
6,698 |
|
|
1,466 |
|
| 2027 |
6,676 |
|
|
1,549 |
|
| 2028 |
6,208 |
|
|
1,255 |
|
| 2029 |
2,960 |
|
|
87 |
|
| 2030 and thereafter |
17,505 |
|
|
— |
|
| Total undiscounted lease payments |
$ |
46,992 |
|
|
$ |
7,367 |
|
| Less: imputed interest |
(15,783) |
|
|
(929) |
|
| Total lease liabilities |
$ |
31,209 |
|
|
$ |
6,438 |
|
|
| Schedule of Future Minimum Payments, Finance Leases |
Maturities of lease liabilities were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2024 |
|
Operating Leases |
|
Finance Leases |
| 2025 |
$ |
6,945 |
|
|
$ |
3,010 |
|
| 2026 |
6,698 |
|
|
1,466 |
|
| 2027 |
6,676 |
|
|
1,549 |
|
| 2028 |
6,208 |
|
|
1,255 |
|
| 2029 |
2,960 |
|
|
87 |
|
| 2030 and thereafter |
17,505 |
|
|
— |
|
| Total undiscounted lease payments |
$ |
46,992 |
|
|
$ |
7,367 |
|
| Less: imputed interest |
(15,783) |
|
|
(929) |
|
| Total lease liabilities |
$ |
31,209 |
|
|
$ |
6,438 |
|
|
| Schedule of Lease Costs |
The table below presents certain information related to the lease costs:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, |
|
2024 |
|
2023 |
|
2022 |
| Operating lease cost |
$ |
6,613 |
|
|
$ |
5,760 |
|
|
$ |
5,640 |
|
|
|
|
|
|
|
| Finance Leases |
|
|
|
|
|
| Amortization of right-of-use assets |
1,787 |
|
|
1,063 |
|
|
537 |
|
| Interest on lease liabilities |
389 |
|
|
243 |
|
|
66 |
|
|
|
|
|
|
|
| Other Lease Costs |
|
|
|
|
|
| Short-term lease cost |
2,583 |
|
|
2,342 |
|
|
1,402 |
|
Variable lease cost(1)
|
2,579 |
|
|
2,414 |
|
|
1,235 |
|
| Total lease cost |
$ |
13,951 |
|
|
$ |
11,822 |
|
|
$ |
8,880 |
|
(1) Consist primarily of common-area maintenance, taxes and utilities
|
|
|
|
|
|
|