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Leases (Tables) | 9 Months Ended
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Sep. 30, 2024
Leases [Abstract] |
Schedule of Operating and Finance Lease Terms and Discount Rates | The table below presents certain information related to the weighted average discount rate and weighted average remaining lease term for the Company’s leases as of September 30, 2024 and December 31, 2023:
| September 30, |  | December 31,
(In thousands) | 2024 |  | 2023
Weighted average discount rate - operating leases | 5.8 | % |  | 4.4 | %
Weighted average discount rate - finance leases | 8.4 | % |  | 8.3 | %
Weighted average remaining lease term in years - operating leases | 6.1 |  | 6.6
Weighted average remaining lease term in years - finance leases | 3.5 |  | 4.1
Schedule of Lease Expense | The components of lease expense for the three and nine months ended September 30, 2024 and 2023 were as follows:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(In thousands) | 2024 |  | 2023 |  | 2024 |  | 2023
Operating lease costs | $ | 1,018 |  |  | $ | 810 |  |  | $ | 2,639 |  |  | $ | 2,460 |
Financing lease costs | 57 |  |  | - |  |  | 173 |  |  | - |
Short-term lease costs | 452 |  |  | 510 |  |  | 1,263 |  |  | 1,266 |
Total operating lease costs | 1,527 |  |  | 1,320 |  |  | 4,075 |  |  | 3,726 |
Variable lease costs | 446 |  |  | 299 |  |  | 1,166 |  |  | 903 |
Total lease costs | $ | 1,973 |  |  | $ | 1,619 |  |  | 5,241 |  |  | 4,629 |
Schedule of Maturities of Operating Lease Liabilities | Maturities of our lease liabilities as of September 30, 2024 are as follows:
(In thousands) | Operating Leases |  | Financing Leases
2024 (3 months remaining) | $ | 857 |  |  | $ | 103 |
2025 | 3,630 |  |  | 413 |
2026 | 3,249 |  |  | 389 |
2027 | 2,970 |  |  | 387 |
2028 | 3,021 |  |  | 134 |
Thereafter | 7,794 |  |  | - |
Total lease payments | 21,521 |  |  | 1,426 |
Less: interest | (3,544) |  |  | (190) |
Total present value of lease liabilities | $ | 17,977 |  |  | $ | 1,236 |
Schedule of Maturities of Finance Lease Liabilities | Maturities of our lease liabilities as of September 30, 2024 are as follows:
(In thousands) | Operating Leases |  | Financing Leases
2024 (3 months remaining) | $ | 857 |  |  | $ | 103 |
2025 | 3,630 |  |  | 413 |
2026 | 3,249 |  |  | 389 |
2027 | 2,970 |  |  | 387 |
2028 | 3,021 |  |  | 134 |
Thereafter | 7,794 |  |  | - |
Total lease payments | 21,521 |  |  | 1,426 |
Less: interest | (3,544) |  |  | (190) |
Total present value of lease liabilities | $ | 17,977 |  |  | $ | 1,236 |

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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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