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Leases | 12 Months Ended
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Dec. 31, 2024
Leases [Abstract] |
Leases | Note 15. Leases The Company has operating and finance leases for office facilities and equipment. Certain of our leases include rental payments that will adjust periodically for inflation or certain adjustments based on step increases. An insignificant number of our leases contain residual value guarantees and none of our agreements contain material restrictive covenants. Variable rent expenses consist primarily of maintenance, property taxes, and charges based on usage. The Company rents or subleases certain real estate to third parties. The Company’s sublease portfolio consists of operating leases. The components of lease costs are as follows (in thousands):
|  | Year Ended December 31, |
|  | 2024 |  |  | 2023 |
Operating lease costs |  |  |  |  |  |
Fixed |  | $ | 3,852 |  |  | $ | 5,330 |
Short-term |  |  | 1,225 |  |  |  | 345 |
Variable |  |  | 4 |  |  |  | 23 |
Sub-leases |  |  | (289 | ) |  |  | (50 | )
Total operating lease costs |  | $ | 4,792 |  |  | $ | 5,648 |
Finance lease costs |  |  |  |  |  |
Amortization of leased assets |  | $ | 5 |  |  | $ | 78 |
Interest on lease liabilities |  |  | 1 |  |  |  | 2 |
Total finance lease costs |  | $ | 6 |  |  | $ | 80 |
Total lease cost |  | $ | 4,798 |  |  | $ | 5,728 |
Supplemental balance sheet information related to leases is as follows (in thousands):
|  |  |  | December 31, |
|  | Classification |  | 2024 |  |  | 2023 |
Assets |  |  |  |  |  |  |  |
Operating leases |  |  |  |  |  |  |  |
Right of use operating lease assets |  | Other assets |  | $ | 13,659 |  |  | $ | 7,277 |
Finance leases |  |  |  |  |  |  |  |
Property and equipment, gross |  | Property and equipment, net |  |  | 5,897 |  |  |  | 5,860 |
Accumulated depreciation |  | Property and equipment, net |  |  | (5,864 | ) |  |  | (5,860 | )
Property and equipment, net |  | Property and equipment, net |  |  | 33 |  |  |  | — |
Total lease assets |  |  |  | $ | 13,692 |  |  | $ | 7,277 |
Liabilities |  |  |  |  |  |  |  |
Operating leases |  |  |  |  |  |  |  |
Other current |  | Current portion of operating lease liability |  | $ | 4,245 |  |  | $ | 3,354 |
Non-current |  | Operating lease liability, less current portion |  |  | 9,149 |  |  |  | 5,931 |
Total operating liabilities |  |  |  |  | 13,394 |  |  |  | 9,285 |
Finance leases |  |  |  |  |  |  |  |
Other current |  | Accrued liabilities |  |  | 13 |  |  |  | — |
Non-current |  | Other liabilities |  |  | 18 |  |  |  | — |
Total finance liabilities |  |  |  |  | 31 |  |  |  | — |
Total lease liabilities |  |  |  | $ | 13,425 |  |  | $ | 9,285 |
Maturities of lease liabilities are as follows (in thousands):
Years Ending December 31, |  | Operating Leases |  |  | Finance Leases |  |  | Total |
2025 |  | $ | 5,378 |  |  | $ | 12 |  |  | $ | 5,390 |
2026 |  |  | 4,451 |  |  |  | 15 |  |  |  | 4,466 |
2027 |  |  | 3,019 |  |  |  | 8 |  |  |  | 3,027 |
2028 |  |  | 1,832 |  |  |  | — |  |  |  | 1,832 |
2029 |  |  | 924 |  |  |  | — |  |  |  | 924 |
Thereafter |  |  | 70 |  |  |  | — |  |  |  | 70 |
Total minimum lease payments |  | $ | 15,674 |  |  | $ | 35 |  |  | $ | 15,709 |
Less: Imputed interest |  |  | (1,941 | ) |  |  | (4 | ) |  |  | (1,945 | )
Present value of minimum lease payments |  | $ | 13,733 |  |  | $ | 31 |  |  | $ | 13,764 |
Lease term and discount rates are as follows:
|  | Year Ended December 31, |
|  | 2024 |  |  | 2023 |
Weighted average remaining lease term |  |  |  |  |  |
Operating leases |  | 3.4 Years |  |  | 3.4 Years |
Finance leases |  | 2.6 Years |  |  |  | — |
Weighted average discount rate |  |  |  |  |  |
Operating leases |  |  | 7.85 | % |  |  | 6.85 | %
Finance leases |  |  | 8.20 | % |  |  | — |
Supplemental cash flow information related to leases was as follows (in thousands):
|  | Year Ended December 31, |
|  | 2024 |  |  | 2023 |
Cash paid for amounts included in measurement of lease liabilities: |  |  |  |  |  |
Operating cash flows from operating leases |  | $ | 4,373 |  |  | $ | 6,825 |
Operating cash flows from finance leases |  | 0 |  |  |  | 2 |
Financing cash flows from finance leases |  |  | 7 |  |  |  | 104 |
Right-of-use assets obtained in exchange for lease obligations: |  |  |  |  |  |
Operating leases |  | $ | 9,956 |  |  | $ | 5,084 |
Finance leases |  |  | 41 |  |  |  | — |
Amortization: |  |  |  |  |  |
Amortization of right-of-use operating lease assets (1) |  | $ | 3,346 |  |  | $ | 4,766 |
(1) Amortization of right of use operating lease assets during the period is reflected in operating lease liabilities on the consolidated statements of cash flows.

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- Definition The entire disclosure for operating and finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability. + References No definition available. + Details
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- References No definition available. + Details
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