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LEASES | 12 Months Ended
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Dec. 31, 2024
LEASES |
LEASES | 8.LEASES The Company leases office space, IT equipment and office equipment. The Company’s leases have remaining terms of up to 4 years. ​ ​ ​ ​ ​ The following table sets forth the Company’s lease assets and liabilities and their balance sheet location as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | As of December 31,
​ |  | Balance Sheet Location | ​ | 2024 |  | 2023
Lease assets: | ​ | ​ | ​ | ​ | ​ | ​
Operating lease right-of-use assets | ​ | Operating lease right-of-use assets | ​ | $ | 11,956 | ​ | $ | 14,605
Finance lease assets | ​ | Property and equipment, net (Note 6) | ​ | ​ | 75 | ​ | ​ | 107
Total lease assets | ​ | ​ | ​ | $ | 12,031 | ​ | $ | 14,712
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Lease liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Operating lease liabilities | ​ | Current portion of operating lease liabilities | ​ | $ | 3,995 | ​ | $ | 3,717
Finance lease liabilities | ​ | Current portion of finance lease liabilities | ​ | ​ | 77 | ​ | ​ | 74
Total current lease liabilities | ​ | ​ | ​ | $ | 4,072 | ​ | $ | 3,791
Non-current: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Operating lease liabilities | ​ | Operating lease liabilities, net of current portion | ​ | $ | 12,585 | ​ | $ | 16,567
Finance lease liabilities | ​ | Finance lease liabilities, net of current portion | ​ | ​ | 10 | ​ | ​ | 51
Total non-current lease liabilities | ​ | ​ | ​ | ​ | 12,595 | ​ | ​ | 16,618
Total lease liabilities | ​ | ​ | ​ | $ | 16,667 | ​ | $ | 20,409
​ ​ The major components of lease cost are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | For the year ended December 31,
​ | 2024 | ​ | 2023 | ​ | 2022
​ | ​ | ​ | ​ | ​ | ​
Operating lease cost | $ | 3,679 | ​ | $ | 4,019 | ​ | $ | 3,714
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Finance lease cost: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Amortization of lease assets | ​ | 79 | ​ | ​ | 788 | ​ | ​ | 1,275
Interest on lease liabilities | ​ | 6 | ​ | ​ | 8 | ​ | ​ | 18
Total lease cost | $ | 3,764 | ​ | $ | 4,815 | ​ | $ | 5,007
​ ​ The weighted-average term and discount rate for leases are as follows: ​
​ | ​ | ​ | ​ | ​
​ | As of December 31, | ​
​ | 2024 | ​ | 2023 | ​
Weighted-average remaining lease term (years): | ​ | ​ | ​ | ​
Operating leases | 3.7 | ​ | 4.7 | ​
Finance leases | 1.1 | ​ | 2.1 | ​
​ | ​ | ​ | ​ | ​
Weighted-average discount rate: | ​ | ​ | ​ | ​
Operating leases | 2.4 | % | 2.3 | %
Finance leases | 6.1 | % | 5.6 | %
​ ​ ​ ​ Lease liability maturities for the next five years and thereafter are as follows as of December 31, 2024: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Operating Leases |  | Finance Leases
2025 | ​ | $ | 4,340 | ​ | $ | 78
2026 | ​ | ​ | 4,766 | ​ |  | 11
2027 | ​ | ​ | 4,738 | ​ |  | —
2028 | ​ | ​ | 3,482 | ​ |  | —
2029 | ​ | ​ | — | ​ |  | —
Thereafter | ​ | ​ | — | ​ |  | —
Total lease payments | ​ | ​ | 17,326 | ​ | ​ | 89
Less: Imputed interest | ​ | ​ | (746) | ​ | ​ | (2)
Present value of lease liabilities | ​ | $ | 16,580 | ​ | $ | 87
​

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