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Leases | 12 Months Ended
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Dec. 31, 2024
Leases [Abstract] |
Leases |
6. | Leases
The Company has operating lease arrangements for facilities under non-cancellable agreements with various expiration dates through 2031. The agreements may include renewal options to extend the term that the Company is not reasonably certain to exercise. In September 2023, the Company extended its facility lease in Lancaster, Texas, from October 2024 to October 2031. In October 2024, the Company extended one of its facility leases in California from December 2024 to June 2027. In October 2024, the Company entered into a lease agreement for additional facilities in Odessa, Texas, which expires in September 2031. Rent expense related to operating lease liabilities was $2.5 million and $2.3 million for the years ended December 31, 2024 and 2023, respectively. In addition, the Company recognized $0.2 million and $0.1 million in rent expense related to a short-term lease for the years ended December 31, 2024 and 2023, respectively. As of December 31, 2024, future minimum lease payments for the Company’s operating lease liabilities were as follows (in thousands):
Year Ended December 31, |  | Amount |
2025 |  | $ | 2,626 |
2026 |  |  | 2,605 |
2027 |  |  | 1,200 |
2028 |  |  | 839 |
2029 |  |  | 866 |
Thereafter |  |  | 1,568 |
Total undiscounted lease payments |  |  | 9,704 |
Less: Imputed interest |  |  | (2,343 | )
Present value of lease liabilities |  |  | 7,361 |
Less: Operating lease liabilities, current |  |  | (1,638 | )
Operating lease liabilities, noncurrent |  | $ | 5,723 |
The following table summarizes additional information related to operating leases for the periods presented:
|  | December 31, |
|  | 2024 |  |  | 2023 |
Weighted-average remaining lease term |  |  | 4.6 years |  |  |  | 5.2 years |
Weighted-average discount rate |  |  | 12.3 | % |  |  | 11.2 | %
Cash payments made for operating leases (in thousands) |  | $ | 2,327 |  |  | $ | 2,308 |

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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 + Details
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