The Company is a party to various claims and lawsuits incidental to its business. In the Company’s opinion, the liabilities, if any, which may ultimately result from the outcome of such matters, individually or in the aggregate, are not expected to have a material adverse effect on its financial position, liquidity, results of operations or cash flows.

The Company has commitments under operating leases for real estate leased from third parties under non-cancelable operating leases. The Company’s leases typically have lease terms between three years and ten years, with the longest lease term having an expiration date in 2035. Most of these leases include one or more renewal options for five years or less, and certain leases also include lessee termination options. At lease commencement, the Company assesses whether it is reasonably certain to exercise a renewal option, or reasonably certain not to exercise a termination option, by considering various economic factors. Options that are reasonably certain of being exercised are factored into the determination of the lease term, and related payments are included in the calculation of the right-of-use (“ROU”) asset and lease liability.

During both the three months ended March 31, 2025 and 2024, the Company recognized sublease income of $0.1 million, within Other (loss) income in the Company’s Consolidated Statements of Operations.

The components of lease cost are presented in the following table:


	Three Months Ended March 31,
($ in thousands)	2025		2024
Components of total lease costs:
Operating lease cost	$	604	$	428
Short-term lease cost		6		6
Total lease cost	$	610	$	434

Amounts reported in the Condensed Consolidated Balance Sheets were as follows:


($ in thousands)	March 31, 2025			December 31, 2024
Operating leases:
ROU assets	$	10,713		$	11,142
Lease liability, current		1,266			1,230
Lease liability, long-term		10,043			10,507
Total lease liabilities	$	11,309		$	11,737

Weighted-average remaining lease term (in years)		5.3			5.6
Weighted-average discount rate (annualized)		6.3	%		6.2	%

Other information related to leases are as follows:


	Three Months Ended March 31,
($ in thousands)	2025		2024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	610	$	551
ROU assets obtained in exchange for lease liabilities:
Operating leases		—		—

The following table presents a maturity analysis of the Company’s operating leases liabilities as of March 31, 2025:


($ in thousands)
2025	$	1,311
2026		2,320
2027		2,028
2028		1,867
2029		1,674
Thereafter		5,039
Total undiscounted lease payments		14,239
Less: Imputed interest		2,930
Total lease liabilities	$	11,309