LEASES (Tables)

12 Months Ended

Dec. 31, 2023

The following table presents assets and liabilities for leases as of December 31, 2023 and 2022 (in thousands):


	2023		2022
Assets
Operating lease right-of-use assets	$	16,339	$	18,582
Finance lease right-of-use assets	6,064		—
Total lease assets	$	22,403	$	18,582

Liabilities
Operating lease liabilities:
Current (included in accrued expenses and other current liabilities)	$	2,146	$	3,541
Non-current	14,908		15,484
Total operating lease liabilities	17,054		19,025

Finance lease liabilities:
Current (included in accrued expenses and other current liabilities)	600		—
Non-current	5,547		—
Total finance lease liabilities	6,147		—

Total lease liabilities	$	23,201	$	19,025

Schedule of Lease Cost

Lease cost for the years ended December 31, 2023 and 2022 are as follows (in thousands):


	2023		2022
Operating lease cost (1)	$	4,396	$	5,390
Finance lease cost:
Amortization of right-of-use assets	562		—
Interest on lease liabilities	290		—
Total lease cost	$	5,248	$	5,390

Reported in:
Cost of goods sold	$	4,777	$	4,897
Selling, general and administrative expense	471		493
Total lease cost	$	5,248	$	5,390

(1)Operating lease cost does not include short-term leases or variable costs, all of which are immaterial.

Supplemental cash flow information related to leases for the years ended December 31, 2023 and 2022 are as follows (in thousands):


	2023		2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	4,182	$	5,072
Operating cash flows for finance leases	282		—
Financing cash flows for finance leases	387		—
Right-of-use assets obtained in exchange for new lease obligations:
Operating leases	$	4,492	$	4,380
Finance leases	6,381		—
Net change in operating right-of-use assets due to lease modifications resulting in reclassification of leases from operating to finance	$	(1,514)	$	—

Schedule of Future Minimum Payment Obligations for Non-Cancelable Operating Leases

As of December 31, 2023, the estimated future minimum payment obligations for non-cancelable operating leases and finance leases are as follows (in thousands):


Years Ending December 31,	Operating Leases		Finance Leases
2024	$	3,202	$	1,063
2025	3,132		979
2026	2,773		831
2027	2,592		794
2028	1,920		1,536
Thereafter	9,042		3,663
Total lease payments	22,661		8,866
Less: imputed interest	(5,607)		(2,719)
Present value of lease liabilities	$	17,054	$	6,147