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Leases (Tables)
12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Summary of Lease Costs

Information related to the Company's total lease costs was as follows (in thousands):

 

 

Year Ended

 

 

December 31, 2024

 

 

December 31, 2023

 

Operating lease cost

$

7,556

 

 

$

7,894

 

Variable lease cost

 

1,314

 

 

 

1,229

 

Short-term lease cost

 

662

 

 

 

208

 

Total lease cost

$

9,532

 

 

$

9,331

 

Summary of Information Related to ROU Assets and Related Lease Liabilities

Information related to the Company's ROU assets and related lease liabilities was as follows (in thousands):

 

Year Ended

 

 

December 31, 2024

 

 

December 31, 2023

 

 

Cash paid for operating lease liabilities

$

7,745

 

 

$

7,933

 

 

Right-of-use assets obtained in exchange for new operating lease obligations

 

6,913

 

 

 

7,270

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2024

 

 

December 31, 2023

 

 

Weighted-average remaining lease term

3.7 years

 

 

3.8 years

 

 

Weighted-average discount rate

5.1

 

%

4.7

 

%

 

Reconciliation of Undiscounted Future Minimum Lease Payments Under Noncancellable Operating Leases

The table below reconciles the undiscounted future minimum lease payments (displayed by year and in the aggregate) under noncancellable operating leases with terms of more than one year to the total operating lease liabilities recognized on the consolidated balance sheets as of December 31, 2024 (in thousands):

 

2025

$

7,131

 

2026

 

6,249

 

2027

 

5,036

 

2028

 

3,477

 

2029

 

1,352

 

Thereafter

 

368

 

Total undiscounted future minimum lease payments

 

23,613

 

Less: Difference between undiscounted lease payments and discounted operating lease liabilities

 

2,166

 

Total operating lease liabilities

$

21,447

 

Current operating lease liabilities

$

6,231

 

Long-term operating lease liabilities

 

15,215

 

Total operating lease liabilities

$

21,447