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LEASES

12 Months Ended

Dec. 31, 2024

Lessee Disclosure [Abstract]

Leases

7. LEASES

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The Company leases certain facilities from a related party, which is affiliated with the Company through common ownership.

​

As of December 31, 2024, the Company had no leases that were classified as financing leases and there were no additional significant operating or financing leases that have not yet commenced. Refer to the following table for quantitative information related to the Company’s leases for the year ended December 31, 2024 and 2023 (dollars in thousands):

​

​

​	​	​	​	​	​	​	​	​	​	​
​		Year Ended December 31, 2024
​		Related Parties		​	Others		​	Total
Lease Cost	​			​			​			​
Capitalized operating lease cost	​	$	—	​	$	1,941	​	$	1,941	​
Short-term lease cost	​		1,830	​		569	​		2,399	​
Total lease cost	​	$	1,830	​	$	2,510	​	$	4,340	​
​	​	​	​	​	​	​	​	​	​	​
Other Information	​			​			​			​
Cash paid for amounts included in the measurement of lease liabilities and capitalized operating leases:	​		​	​		​	​		​	​
Operating cash flows	​	$	—	​	$	2,078	​	$	2,078	​
​	​	​	​	​	​	​	​	​	​	​
Weighted-average remaining lease term (in years):	​			​			​			​
Capitalized operating leases	​	​	—	​	​	2.01	​	​	2.01	​
​	​	​	​	​	​	​	​	​	​	​
Weighted-average discount rate:	​	​	​	​	​	​	​	​	​	​
Capitalized operating leases	​	​	0.00%	​	​	4.31%	​	​	4.31%	​
​	​	​	​	​	​	​	​	​	​	​
​		Year Ended December 31, 2023								​
​		Related Parties		​	Others		​	Total		​
Lease Cost	​			​			​			​
Capitalized operating lease cost	​	$	1,149	​	$	2,235	​	$	3,384	​
Short-term lease cost	​		532	​		459	​		991	​
Total lease cost	​	$	1,681	​	$	2,694	​	$	4,375	​
​	​	​	​	​	​	​	​	​	​	​
Other Information	​			​			​			​
Cash paid for amounts included in the measurement of lease liabilities and capitalized operating leases:	​		​	​		​	​		​	​
Operating cash flows	​	$	1,149	​	$	2,266	​	$	3,415	​
​	​	​	​	​	​	​	​	​	​	​
Weighted-average remaining lease term (in years):	​			​			​			​
Capitalized operating leases	​	​	—	​	​	2.92	​	​	2.92	​
​	​	​	​	​	​	​	​	​	​	​
Weighted-average discount rate:	​	​	​	​	​	​	​	​	​	​
Capitalized operating leases	​	​	3.92%	​	​	4.08%	​	​	4.04%	​

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As of December 31, 2024, future lease payments over the remaining term of capitalized operating leases were as follows (in thousands):

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​	​	​	​	​
For the Years Ended December 31,		​	​
2025	​	$	2,054	​
2026	​		1,074	​
2027	​		237	​
2028	​		142	​
2029	​	​	—	​
Thereafter	​	​	—	​
​	​	$	3,507	​
​	​	​	​	​
Imputed interest	​	​	(150)	​
Lease liability balance at December 31, 2024	​	$	3,357	​

​

As of December 31, 2024, the ROU asset had a balance of $3,077. The long-term lease liability was $1,552 and the short-term lease liability, which is included in accrued expenses and other liabilities in the consolidated balance sheets, was $1,805.

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As of December 31, 2023, the ROU asset had a balance of $4,340. The long-term lease liability was $3,181 and the short-term lease liability, which is included in accrued expenses and other liabilities in the consolidated balance sheets, was $1,733.

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- References

No definition available.

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- Definition

The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/842-20/tableOfContent

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