XML 38 R27.htm IDEA: XBRL DOCUMENT

Operating Leases (Tables)

3 Months Ended

Mar. 31, 2025

Operating Leases

Schedule of operating lease expense recognized in financial statements

The table below summarizes the amounts recognized in the condensed consolidated financial statements related to operating leases for the periods presented (in thousands):


		For the Three Months Ended
		March 31,
		2025			2024
Rent expense for long-term operating leases		$	314		$	314
Rent expense for short-term leases			42			47
Total rent expense		$	356		$	361

Schedule of net present value of operating lease liability

The following table presents the maturity profile of the Company’s operating lease liabilities based on the contractual undiscounted payments with a reconciliation of these amounts to the remaining net present value of the operating lease liability reported in the condensed consolidated balance sheet as of March 31, 2025 (in thousands):


Year		Amount
2025		$	977
2026			1,331
2027			1,327
2028			957
2029			695
2030 and thereafter			177
Total lease payments			5,464
Less: Interest			(1,018)
Net present value of lease liabilities		$	4,446

Current portion		$	904
Long-term portion			3,542
Total		$	4,446

Schedule of weighted average remaining lease terms and discount rates

The weighted average remaining lease terms and discount rates for all of the Company’s operating leases as of March 31, 2025 were as follows:


Weighted-average lease term remaining		48 months
Weighted-average discount rate		9.39	%