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

Leases (Tables)

v3.25.1
Leases (Tables)
12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Schedule of Lease Cost
The table below presents certain information related to the lease costs for the Company’s operating leases for the periods indicated (amount in thousands):
Year Ended December 31,
2024 2023
Operating lease expense $ 2,067  $ 1,663 
Short-term lease expense 630  701 
Total lease cost $ 2,697  $ 2,364 
Schedule of Balance Sheet Location
Right of use lease assets and lease liabilities for our operating leases were recorded in the consolidated balance sheet as follows (amount in thousands):
December 31,
2024 2023
Assets
Lease right of use assets $ 3,781  $ 4,150 
Total lease assets $ 3,781  $ 4,150 
Liabilities
Current liabilities:
Lease liability - current portion $ 1,237  $ 1,504 
Noncurrent liabilities:
Lease liability, net of current portion 3,522  3,824 
Total lease liability $ 4,759  $ 5,328 
Schedule of Weighted Average Remaining Lease Term and Discount Rate
The table below presents certain information related to the weighted average remaining lease term and the weighted average discount rate for the Company’s operating leases as of:
December 31,
2024 2023
Weighted average remaining lease term (in years) - operating leases 4.1 3.9
Weighted average discount rate - operating leases 7.61  % 6.33  %
Schedule of Future Lease Payments
Future lease payments included in the measurement of lease liabilities on the consolidated balance sheet as of December 31, 2024, for the following five fiscal years and thereafter were as follows (amount in thousands):
Years Ended December 31, Operating Leases
2025 $ 1,539 
2026 1,373 
2027 1,226 
2028 898 
2029 143 
Thereafter 403 
Total Minimum Lease Payments 5,582 
Less effects of discounting (823)
Present value of future minimum lease payments $ 4,759