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LEASES (Tables)

12 Months Ended

Dec. 31, 2024

LEASES

Schedule of financial impact of leases

​

​	​	​	​	​	​	​	​	​
​	​	​	​	As of December 31,
Balance Sheet		Classification		2024			2023
​	​	​	​	(in thousands)
Assets	​	​	​	​	​	​	​	​
Right-of-use assets(1)	​	Long-term right-of-use assets	​	$	36,851	​	$	39,504
Finance lease assets	​	Property and equipment, net	​	​	528	​	​	724
Liabilities	​	​	​	​	​	​	​	​
Operating lease liabilities ― ST	​	Current operating lease liabilities	​	$	16,439	​	$	15,005
Operating lease liabilities ― LT	​	Long-term operating lease liabilities	​	​	31,092	​	​	37,799
Finance lease liabilities ― ST	​	Current portion of finance lease obligations	​	​	211	​	​	194
Finance lease liabilities ― LT	​	Other long-term liabilities	​	​	351	​	​	547

​

(1) Right-of-use asset impairment of $0.6 million, zero and $0.1 million for the years ended December 31, 2024, 2023 and 2022, respectively, is recorded within lease abandonment costs in the accompanying consolidated statements of operations.

​

​

​	​	​	​	​	​	​	​	​	​	​	​
Statements of Operations and	​	​	​	Year ended December 31,
Cash Flows		Classification		2024		​	2023		​	2022
​	​	​	​	(in thousands)
Operating lease cost:	​	​	​	​	​	​	​	​	​	​	​
Operating lease cost ― fixed	​	Cost of revenue and selling, general and administrative	​	$	14,138	​	$	14,271	​	$	13,975
Lease abandonment costs	​	Lease abandonment costs	​	​	358	​	​	42	​	​	449
​	​	​	​	​	​	​	​	​	​	​	​
Short-term agreements:	​	Cost of revenue	​	$	109,259	​	$	114,143	​	$	96,182
​	​	​	​	​	​	​	​	​	​	​	​
Finance lease cost:	​	​	​	​	​	​	​	​	​	​	​
Amortization of leased assets	​	Depreciation and amortization	​	$	217	​	$	126	​	$	110
Interest on lease liabilities	​	Interest expense, net	​	​	28	​	​	27	​	​	2
​	​	​	​	​	​	​	​	​	​	​	​
Lessor income:	​	​	​	​	​	​	​	​	​	​	​
Sublease income	​	Cost of revenue, selling, general and administrative and lease abandonment costs	​	$	1,853	​	$	1,648	​	$	1,514
Lessor income	​	Cost of revenue	​	​	151	​	​	251	​	​	317
​	​	​	​	​	​	​	​	​	​	​	​
Statement of cash flows	​	​	​	​	​	​	​	​	​	​	​
Cash paid for operating leases	​	Operating cash flows	​	$	19,485	​	$	19,904	​	$	21,437
Cash paid for finance leases lease interest	​	Operating cash flows	​	​	28	​	​	27	​	​	2
Cash paid for finance leases	​	Financing cash flows	​	​	231	​	​	98	​	​	112

​

​

​	​	​	​	​	​	​
​	​	As of December 31,				​
Lease Term and Discount Rate		2024			2023
Weighted-average remaining lease term (years)	​	​	​	​	​	​
Operating leases	​	3.8	​	​	4.4	​
Finance leases	​	2.6	​	​	3.5	​
Weighted-average discount rate	​	​	​	​	​	​
Operating leases	​	5.4	%	​	4.9	%
Finance leases	​	7.0	%	​	7.0	%

Schedule of operating and finance lease commitments

​

​	​	​	​	​	​	​	​	​	​
Period		Operating Leases(1)			Finance Leases			Total
​	​	(in thousands)
2025	​	$	22,143	​	$	242	​	$	22,385
2026	​		13,180	​		242	​		13,422
2027	​		8,183	​		125	​		8,308
2028	​		4,942	​		3	​		4,945
2029	​		3,000	​		—	​		3,000
Thereafter	​		3,602	​		—	​		3,602
Total minimum lease payments	​	$	55,050	​	$	612	​	$	55,662
​	​	​	​	​	​	​	​	​	​
Less reconciling items to reconcile undiscounted cash flows to lease liabilities:	​	​	​	​	​	​	​	​	​
Short-term leases excluded from balance sheet	​	​	3,675	​	​	—	​	​	3,675
Imputed interest	​	​	3,844	​	​	50	​	​	3,894
Total reconciling items	​	​	7,519	​	​	50	​	​	7,569
Total liabilities per balance sheet	​	$	47,531	​	$	562	​	$	48,093

​

(1) The table above excludes sublease and lessor income of $2.0 million during 2025, $1.5 million during 2026, $0.3 million during 2027 and $0.1 million thereafter.

X

- 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

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- References

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- Definition

Tabular disclosure of undiscounted cash flows of lessee's operating lease liability and finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating and finance lease liability recognized in statement of financial position

+ References

No definition available.

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