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Leases (Tables) | 6 Months Ended
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Jun. 30, 2024
Leases |
Schedule of operating and finance lease right-of-use assets and related lease obligations | ​
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​ | ​ | ​ | June 30, | ​ | December 31, | ​ | ​ | ​
Leases | Classification | ​ | 2024 |  | 2023 |  |  | ​
Assets | ​ | ​ | (in thousands) | ​ |  | ​
Operating leases | Operating lease assets | ​ | $ | 28,918 | ​ | $ | 30,716 | ​ | ​ | ​
Finance lease | Finance lease assets* | ​ |  | 15,989 | ​ |  | 16,632 | ​ | ​ | ​
Total leased assets | ​ | ​ | $ | 44,907 | ​ | $ | 47,348 | ​ | ​ | ​
Liabilities | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Operating | Other current liabilities | ​ | $ | 4,637 | ​ | $ | 4,978 | ​ | ​ | ​
Finance | Current portion of finance lease obligation | ​ | ​ | 1,452 | ​ | ​ | 1,511 | ​ | ​ | ​
Non-current | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Operating | Other long-term liabilities | ​ | ​ | 24,329 | ​ | ​ | 25,724 | ​ | ​ | ​
Finance | Finance lease obligation | ​ |  | 43,004 | ​ |  | 43,674 | ​ | ​ | ​
Total lease liabilities | ​ | ​ | $ | 73,422 | ​ | $ | 75,887 | ​ | ​ | ​
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*Finance lease assets are recorded net of accumulated depreciation of $46.9 million and include $0.6 million of prepaid financing costs as of June 30, 2024. Finance lease assets are recorded net of accumulated depreciation of $46.4 million and include $0.6 million of prepaid financing costs as of December 31, 2023. | ​ | ​ | ​
Schedule of lease costs | ​
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​ | ​ | ​ | Three months ended | ​ | Six months ended |  | ​
​ | ​ | ​ | June 30, | ​ | June 30, | ​ | ​
Lease cost | Classification | ​ | 2024 |  | 2023 |  | 2024 |  | 2023 |  | ​
Operating lease cost | ​ | ​ | (in thousands) |  | ​
Product / services* | Cost of revenue | ​ | $ | 1,694 | ​ | $ | 1,821 | ​ | $ | 3,522 | ​ | $ | 3,287 | ​ | ​
Research and development | Operating expenses | ​ |  | 203 | ​ |  | 137 | ​ |  | 326 | ​ |  | 243 | ​ | ​
Sales and marketing* | Operating expenses | ​ |  | 451 | ​ |  | 417 | ​ |  | 902 | ​ |  | 813 | ​ | ​
General and administrative* | Operating expenses | ​ |  | 337 | ​ |  | 239 | ​ |  | 532 | ​ |  | 515 | ​ | ​
Total operating lease cost | ​ | ​ | $ | 2,685 | ​ | $ | 2,614 | ​ | $ | 5,282 | ​ | $ | 4,858 | ​ | ​
Finance lease cost | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Depreciation of leased assets | Cost of revenue, Research and development, Sales and marketing and General and administrative | ​ | $ | 321 | ​ | $ | 318 | ​ | $ | 643 | ​ | $ | 637 | ​ | ​
Interest on lease liabilities | Interest expense | ​ |  | 1,187 | ​ |  | 1,223 | ​ |  | 2,384 | ​ |  | 2,454 | ​ | ​
Total finance lease cost | ​ | ​ | $ | 1,508 | ​ | $ | 1,541 | ​ | $ | 3,027 | ​ | $ | 3,091 | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total lease cost | ​ | ​ | $ | 4,193 | ​ | $ | 4,155 | ​ | $ | 8,309 | ​ | $ | 7,949 | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
* Product / services, sales and marketing and general and administrative expense also includes short-term lease and variable lease costs of approximately $0.7 million and $1.3 million for the three and six months ended June 30, 2024, respectively, and includes short-term lease and variable lease costs of approximately $0.5 million and $1.0 million for the three and six months ended June 30, 2023, respectively. | ​ | ​
Schedule of future minimum operating and finance leases | ​
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​ | ​ | Finance | ​ | Operating |  | Total |
Maturity of Lease Liabilities | ​ | Leases | ​ | Leases | ​ | Leases | ​
​ | ​ | (in thousands) | ​
2024 | ​ | $ | 3,132 | ​ | $ | 3,740 | ​ | $ | 6,872 | ​
2025 | ​ |  | 5,930 | ​ |  | 6,113 | ​ |  | 12,043 | ​
2026 | ​ |  | 6,008 | ​ |  | 4,448 | ​ |  | 10,456 | ​
2027 | ​ |  | 6,128 | ​ |  | 2,863 | ​ |  | 8,991 | ​
2028 | ​ | ​ | 6,251 | ​ | ​ | 1,959 | ​ | ​ | 8,210 | ​
Thereafter | ​ | ​ | 55,336 | ​ | ​ | 23,205 | ​ | ​ | 78,541 | ​
Total lease payments | ​ | $ | 82,785 | ​ | $ | 42,328 | ​ | $ | 125,113 | ​
Less interest portion* | ​ | ​ | (38,329) | ​ | ​ | (13,362) | ​ | ​ | (51,691) | ​
Finance lease and operating lease obligations | ​ | $ | 44,456 | ​ | $ | 28,966 | ​ | $ | 73,422 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
* Finance lease interest calculated using the implied interest rate; operating lease interest calculated using estimated corporate borrowing rate. | ​
Schedule of weighted-average remaining lease term and discount rates | ​
​ | ​ | ​ | ​ | ​
​ | ​ | June 30, | ​
Lease term and discount rate |  | 2024 | ​
Weighted-average remaining lease term (years): | ​ | ​ | ​ | ​
Operating leases | ​ | ​ | 11.5 | ​
Finance leases | ​ |  | 12.6 | ​
Weighted-average discount rate: | ​ | ​ | ​ | ​
Operating leases | ​ |  | 5.5% | ​
Finance leases | ​ |  | 10.5% | ​
​ | ​ | ​ | ​ | ​
Schedule of cash outflows by lease type | ​
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​ | ​ | Six months ended June 30,
Cash paid for amounts included in the measurement of lease liabilities |  | 2024 |  | 2023
​ | ​ | (in thousands)
Operating cash outflows from operating leases | ​ | $ | 5,282 | ​ | $ | 4,858
Operating cash outflows from finance leases | ​ |  | 2,384 | ​ |  | 2,454
Financing cash outflows from finance leases | ​ |  | 736 | ​ |  | 598
Operating lease assets obtained in exchange for operating lease liabilities | ​ |  | 825 | ​ |  | 23,289
Finance lease assets obtained in exchange for new finance lease liabilities | ​ |  | — | ​ |  | —
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