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Leases (Tables) | 6 Months Ended
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Jun. 30, 2024
Leases [Abstract] |
Schedule of Information Related to Lease Costs | The components of lease expense were as follows (dollars in thousands):
|  | Three Months Ended June 30, |
|  | 2024 |  |  | 2023 |
Operating lease cost |  | $ | 3,074 |  |  | $ | 1,816 |
Finance lease cost |  |  |  |  |  |
Amortization of lease expense |  |  | 182 |  |  |  | 149 |
Interest on lease liabilities |  |  | 22 |  |  |  | 22 |
Sublease income |  |  | (18 | ) |  |  | (252 | )
Total lease cost, net |  | $ | 3,260 |  |  | $ | 1,735 |
|  | Six Months Ended June 30, |
|  | 2024 |  |  | 2023 |
Operating lease cost |  | $ | 6,233 |  |  | $ | 3,568 |
Finance lease cost |  |  |  |  |  |
Amortization of lease expense |  |  | 362 |  |  |  | 303 |
Interest on lease liabilities |  |  | 46 |  |  |  | 45 |
Sublease income |  |  | (244 | ) |  |  | (499 | )
Total lease cost, net |  | $ | 6,397 |  |  | $ | 3,417 |
Other information related to leases was as follows (in thousands):
|  | Three Months Ended June 30, |
|  | 2024 |  |  | 2023 |
Supplemental Cash Flow Information |  |  |  |  |  |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |
Operating cash flows from operating leases |  | $ | 2,749 |  |  | $ | 1,937 |
Operating cash flows from finance leases |  |  | 22 |  |  |  | 22 |
Financing cash flows from finance leases |  |  | 182 |  |  |  | 149 |
|  | Six Months Ended June 30, |
|  | 2024 |  |  | 2023 |
Supplemental Cash Flow Information |  |  |  |  |  |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |
Operating cash flows from operating leases |  | $ | 5,586 |  |  | $ | 3,678 |
Operating cash flows from finance leases |  |  | 46 |  |  |  | 45 |
Financing cash flows from finance leases |  |  | 362 |  |  |  | 303 |
|  | Six Months Ended June 30, |
|  | 2024 |  |  | 2023 |
Weighted Average Remaining Lease Term |  |  |  |  |  |
Operating leases |  | 6.52 years |  |  | 6.77 years |
Finance leases |  | 2.82 years |  |  | 3.12 years |
Weighted Average Discount Rate |  |  |  |  |  |
Operating leases |  |  | 6.56 | % |  |  | 5.71 | %
Finance leases |  |  | 5.62 | % |  |  | 5.08 | %
Schedule of Future Minimum Operating Lease Payments Under Non-cancelable Leases | The following are future minimum lease payments under non-cancellable leases for the years ending December 31 (in thousands) below:
|  | Operating Leases |  |  | Finance Leases |
2024 (excluding the six months ended June 30, 2024) |  | $ | 3,411 |  |  | $ | 355 |
2025 |  |  | 6,778 |  |  |  | 599 |
2026 |  |  | 6,406 |  |  |  | 345 |
2027 |  |  | 5,936 |  |  |  | 265 |
2028 |  |  | 5,704 |  |  |  | 27 |
Thereafter |  |  | 12,072 |  |  |  | 9 |
Total future minimum lease payments |  |  | 40,307 |  |  |  | 1,600 |
Less: imputed interest |  |  | 8,331 |  |  |  | 130 |
Total lease liabilities |  |  | 31,976 |  |  |  | 1,470 |
Less: current portion |  |  | 4,884 |  |  |  | 591 |
Long-term lease liabilities |  | $ | 27,092 |  |  | $ | 879 |
Schedule of Future Minimum Finance Lease Payments Under Non-cancelable Leases | The following are future minimum lease payments under non-cancellable leases for the years ending December 31 (in thousands) below:
|  | Operating Leases |  |  | Finance Leases |
2024 (excluding the six months ended June 30, 2024) |  | $ | 3,411 |  |  | $ | 355 |
2025 |  |  | 6,778 |  |  |  | 599 |
2026 |  |  | 6,406 |  |  |  | 345 |
2027 |  |  | 5,936 |  |  |  | 265 |
2028 |  |  | 5,704 |  |  |  | 27 |
Thereafter |  |  | 12,072 |  |  |  | 9 |
Total future minimum lease payments |  |  | 40,307 |  |  |  | 1,600 |
Less: imputed interest |  |  | 8,331 |  |  |  | 130 |
Total lease liabilities |  |  | 31,976 |  |  |  | 1,470 |
Less: current portion |  |  | 4,884 |  |  |  | 591 |
Long-term lease liabilities |  | $ | 27,092 |  |  | $ | 879 |

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- Definition Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-6 + Details
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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-4 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-6 + Details
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