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LEASES | 12 Months Ended
--- | ---
Dec. 31, 2024
Leases [Abstract] |
LEASES | LEASES The Company leases office space, warehouses, and vehicles, in the U.S. and internationally under both operating and finance leases. Variable lease expense related to operating leases, excluding non-lease components included in total lease costs, did not have a significant impact on the Company's consolidated financial statements. In September 2024, the Company entered into a non-cancelable sublease agreement for office space, which commenced in October 2024 and extends through 2029. The sublease terminates in the event the related master lease is terminated. Upon commencement, the Company recognized a right-of-use asset and lease liability related to the agreement in accordance with ASC 842. In November 2024, the Company acquired all of the outstanding voting equity interest of Big Beverages and recognized right-of-use assets and lease liabilities for the property leases assumed with the acquisition in accordance with ASC 805 and ASC 842. Refer to Note 17. Acquisition. The components of lease costs were as follows:
| For the years ended December 31,
| 2024 |  | 2023 |  | 2022
Operating lease costs | $ | 2,145 |  |  | $ | 814 |  |  | $ | 664 |
Amortization of right of use assets- finance lease | 126 |  |  | 86 |  |  | 110 |
Lease costs | $ | 2,271 |  |  | $ | 900 |  |  | $ | 774 |
Supplemental cash flow information and non-cash activity were as follows:
|  | For the years ended December 31,
|  | 2024 |  | 2023 |  | 2022
Cash paid for amounts related to lease liabilities: |  |  |  |  |  |
Operating cash flows from finance leases (interest) |  | $ | 11 |  |  | $ | 7 |  |  | $ | 7 |
Operating cash flows from operating leases |  | 1,684 |  |  | 836 |  |  | 670 |
Financing cash flows from finance leases (principal) |  | 61 |  |  | 44 |  |  | 63 |
Non-cash lease activity: |  |  |  |  |  |
Right-of-use assets obtained in exchange for lease obligations |  | $ | 21,934 |  |  | $ | 1,816 |  |  | $ | 731 |
Weighted-average remaining lease terms and discount rates:
|  | For the years ended December 31,
|  | 2024 |  | 2023 |  | 2022
Weighted-average remaining lease terms in years |  |  |  |  |  |
Operating leases |  | 5.29 |  | 2.89 |  | 2.02
Finance leases |  | 1.81 |  | 2.30 |  | 2.69
Weighted-average discount rate |  |  |  |  |  |
Operating leases |  | 5.23 | % |  | 6.77 | % |  | 6.52 | %
Finance leases |  | 4.14 | % |  | 3.92 | % |  | 3.00 | %
The aggregate annual lease obligations at December 31, 2024, were as follows:
|  | Operating Leases |  | Finance Leases
2025 |  | $ | 3,888 |  |  | $ | 111 |
2026 |  | 4,838 |  |  | 181 |
2027 |  | 4,804 |  |  | 14 |
2028 |  | 3,751 |  |  | 24 |
2029 |  | 3,494 |  |  | — |
Thereafter |  | 2,267 |  |  | — |
Total future minimum lease payments |  | $ | 23,042 |  |  | $ | 330 |
Less: amounts representing interest |  | 3,103 |  |  | 19 |
Present value of lease liabilities |  | 19,939 |  |  | 311 |
Less: current portion |  | 3,265 |  |  | 100 |
Long-term portion |  | $ | 16,674 |  |  | $ | 211 |
LEASES | LEASES The Company leases office space, warehouses, and vehicles, in the U.S. and internationally under both operating and finance leases. Variable lease expense related to operating leases, excluding non-lease components included in total lease costs, did not have a significant impact on the Company's consolidated financial statements. In September 2024, the Company entered into a non-cancelable sublease agreement for office space, which commenced in October 2024 and extends through 2029. The sublease terminates in the event the related master lease is terminated. Upon commencement, the Company recognized a right-of-use asset and lease liability related to the agreement in accordance with ASC 842. In November 2024, the Company acquired all of the outstanding voting equity interest of Big Beverages and recognized right-of-use assets and lease liabilities for the property leases assumed with the acquisition in accordance with ASC 805 and ASC 842. Refer to Note 17. Acquisition. The components of lease costs were as follows:
| For the years ended December 31,
| 2024 |  | 2023 |  | 2022
Operating lease costs | $ | 2,145 |  |  | $ | 814 |  |  | $ | 664 |
Amortization of right of use assets- finance lease | 126 |  |  | 86 |  |  | 110 |
Lease costs | $ | 2,271 |  |  | $ | 900 |  |  | $ | 774 |
Supplemental cash flow information and non-cash activity were as follows:
|  | For the years ended December 31,
|  | 2024 |  | 2023 |  | 2022
Cash paid for amounts related to lease liabilities: |  |  |  |  |  |
Operating cash flows from finance leases (interest) |  | $ | 11 |  |  | $ | 7 |  |  | $ | 7 |
Operating cash flows from operating leases |  | 1,684 |  |  | 836 |  |  | 670 |
Financing cash flows from finance leases (principal) |  | 61 |  |  | 44 |  |  | 63 |
Non-cash lease activity: |  |  |  |  |  |
Right-of-use assets obtained in exchange for lease obligations |  | $ | 21,934 |  |  | $ | 1,816 |  |  | $ | 731 |
Weighted-average remaining lease terms and discount rates:
|  | For the years ended December 31,
|  | 2024 |  | 2023 |  | 2022
Weighted-average remaining lease terms in years |  |  |  |  |  |
Operating leases |  | 5.29 |  | 2.89 |  | 2.02
Finance leases |  | 1.81 |  | 2.30 |  | 2.69
Weighted-average discount rate |  |  |  |  |  |
Operating leases |  | 5.23 | % |  | 6.77 | % |  | 6.52 | %
Finance leases |  | 4.14 | % |  | 3.92 | % |  | 3.00 | %
The aggregate annual lease obligations at December 31, 2024, were as follows:
|  | Operating Leases |  | Finance Leases
2025 |  | $ | 3,888 |  |  | $ | 111 |
2026 |  | 4,838 |  |  | 181 |
2027 |  | 4,804 |  |  | 14 |
2028 |  | 3,751 |  |  | 24 |
2029 |  | 3,494 |  |  | — |
Thereafter |  | 2,267 |  |  | — |
Total future minimum lease payments |  | $ | 23,042 |  |  | $ | 330 |
Less: amounts representing interest |  | 3,103 |  |  | 19 |
Present value of lease liabilities |  | 19,939 |  |  | 311 |
Less: current portion |  | 3,265 |  |  | 100 |
Long-term portion |  | $ | 16,674 |  |  | $ | 211 |

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- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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