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Leases
 9 Months Ended
Sep. 30, 2025
Leases [Abstract]  
Leases Leases
The Company has operating and finance leases for offices, manufacturing plants, vehicles and certain office and manufacturing equipment. Leases with an initial term of 12 months or less are not recorded on the balance sheet. The Company accounts for each separate lease component of a contract and its associated non-lease components as a single lease component, thus causing all fixed payments to be capitalized. Variable lease payment amounts that cannot be determined at the commencement of the lease such as increases in lease payments based on changes in index rates or usage, are not included in the right of use (“ROU”) assets or lease liabilities. These are expensed as incurred and recorded as variable lease expense. The Company determines if an arrangement is a lease at the inception of a contract. Operating and finance lease ROU assets and operating and finance lease liabilities are stated separately in the condensed consolidated balance sheet.
ROU assets represent the Company's right to use an underlying asset during the lease term and lease liabilities represent the Company's obligation to make lease payments pursuant to the lease. ROU assets and lease liabilities are recognized at commencement date based on the net present value of fixed lease payments over the lease term. The Company's assumed lease term includes options to extend or terminate the lease when it is reasonably certain that it will exercise that option. ROU assets are also adjusted for any deferred or accrued rent. As the Company's leases do not typically provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments.
ROU assets and lease liabilities consist of the following (in thousands):
September 30,
2025		December 31,
2024
Operating lease ROU assets$18,881 $16,056 
Finance lease ROU assets47 92 
Total ROU assets$18,928 $16,148 
Operating lease liabilities - current$4,909 $4,165 
Finance lease liabilities - current43 61 
Total lease liabilities - current$4,952 $4,226 
Operating lease liabilities - long-term$14,431 $12,398 
Finance lease liabilities - long-term6 34 
Total lease liabilities - long-term$14,437 $12,432 
The components of lease costs for the nine months ended September 30, 2025 and 2024 consist of the following (in thousands):
Nine Months Ended September 30,
20252024
Lease Cost:
Finance lease cost:
Amortization of right of use assets$45 $71 
Interest on lease liabilities1 5 
Operating lease cost3,691 2,776 
Variable lease cost531 241 
Short-term lease cost151 136 
Total lease cost$4,419 $3,229 
Weighted-average remaining lease term (years):
Finance1.131.40
Operating6.024.21
Weighted-average discount rate:
Finance2.15 %2.11 %
Operating5.45 %4.87 %
The following table provides additional details of cash flow information related to the Company's leases (in thousands):
Nine Months Ended September 30,
20252024
Cash paid for amounts included in measurement of lease liabilities:
Operating cash flows from operating leases$3,571 $2,723 
Financing cash flows from finance leases$47 $58 
Total operating cash flows$3,618 $2,781 
Supplemental non-cash information:
ROU assets obtained in exchange for new lease liabilities$3,784 $4,078 
The aggregate future lease payments for leases as of September 30, 2025 are as follows (in thousands):
OperatingFinance
Remainder of 2025$1,310 $16 
20265,305 29 
20274,665 6 
20283,632 — 
20293,247 — 
Thereafter4,153 — 
Total lease payments22,312 51 
Less: Interest(2,972)(2)
Present value of lease liabilities$19,340 $49 
Leases Leases
The Company has operating and finance leases for offices, manufacturing plants, vehicles and certain office and manufacturing equipment. Leases with an initial term of 12 months or less are not recorded on the balance sheet. The Company accounts for each separate lease component of a contract and its associated non-lease components as a single lease component, thus causing all fixed payments to be capitalized. Variable lease payment amounts that cannot be determined at the commencement of the lease such as increases in lease payments based on changes in index rates or usage, are not included in the right of use (“ROU”) assets or lease liabilities. These are expensed as incurred and recorded as variable lease expense. The Company determines if an arrangement is a lease at the inception of a contract. Operating and finance lease ROU assets and operating and finance lease liabilities are stated separately in the condensed consolidated balance sheet.
ROU assets represent the Company's right to use an underlying asset during the lease term and lease liabilities represent the Company's obligation to make lease payments pursuant to the lease. ROU assets and lease liabilities are recognized at commencement date based on the net present value of fixed lease payments over the lease term. The Company's assumed lease term includes options to extend or terminate the lease when it is reasonably certain that it will exercise that option. ROU assets are also adjusted for any deferred or accrued rent. As the Company's leases do not typically provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments.
ROU assets and lease liabilities consist of the following (in thousands):
September 30,
2025		December 31,
2024
Operating lease ROU assets$18,881 $16,056 
Finance lease ROU assets47 92 
Total ROU assets$18,928 $16,148 
Operating lease liabilities - current$4,909 $4,165 
Finance lease liabilities - current43 61 
Total lease liabilities - current$4,952 $4,226 
Operating lease liabilities - long-term$14,431 $12,398 
Finance lease liabilities - long-term6 34 
Total lease liabilities - long-term$14,437 $12,432 
The components of lease costs for the nine months ended September 30, 2025 and 2024 consist of the following (in thousands):
Nine Months Ended September 30,
20252024
Lease Cost:
Finance lease cost:
Amortization of right of use assets$45 $71 
Interest on lease liabilities1 5 
Operating lease cost3,691 2,776 
Variable lease cost531 241 
Short-term lease cost151 136 
Total lease cost$4,419 $3,229 
Weighted-average remaining lease term (years):
Finance1.131.40
Operating6.024.21
Weighted-average discount rate:
Finance2.15 %2.11 %
Operating5.45 %4.87 %
The following table provides additional details of cash flow information related to the Company's leases (in thousands):
Nine Months Ended September 30,
20252024
Cash paid for amounts included in measurement of lease liabilities:
Operating cash flows from operating leases$3,571 $2,723 
Financing cash flows from finance leases$47 $58 
Total operating cash flows$3,618 $2,781 
Supplemental non-cash information:
ROU assets obtained in exchange for new lease liabilities$3,784 $4,078 
The aggregate future lease payments for leases as of September 30, 2025 are as follows (in thousands):
OperatingFinance
Remainder of 2025$1,310 $16 
20265,305 29 
20274,665 6 
20283,632 — 
20293,247 — 
Thereafter4,153 — 
Total lease payments22,312 51 
Less: Interest(2,972)(2)
Present value of lease liabilities$19,340 $49