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Leases
6 Months Ended
Jun. 30, 2025
Leases  
Leases

Note 12. Leases

The Company has operating and finance leases for corporate offices and certain equipment. These leases have remaining lease terms of less than one year to approximately twelve years, some of which include options to extend the leases for multiple renewal periods of one to fifteen years each. Under the terms of the facilities leases, the Company is required to pay its proportionate share of property taxes, insurance and normal maintenance costs.

The components of lease cost were as follows (in thousands):

Six Months Ended

June 30, 

    

2025

    

2024

    

Operating lease cost

$

4,125

$

2,678

Finance lease cost:

Amortization of right-of-use assets

201

117

Interest on finance lease liabilities

52

39

253

156

Total lease cost

4,378

2,834

Other information related to leases was as follows (in thousands):

Supplemental Cash Flows Information

Six Months Ended June 30, 

    

2025

    

2024

Cash paid for amounts included in the measurement of lease liabilities:

 

 

Operating cash flows from operating leases

 

$

3,037

 

$

2,621

Operating cash flows from finance leases

 

$

239

 

$

142

Financing cash flows from finance leases

$

187

$

102

Right-of-use assets obtained in exchange for lease liabilities (in thousands):

Operating leases

 

$

400

 

$

76

Finance leases

$

378

$

35

June 30, 

December 31, 

 

    

2025

    

2024

 

    

Weighted-Average Remaining Lease Term

 

 

 

Operating leases

 

9.3

years

9.6

years

 

Finance leases

 

3.3

years

3.5

years

 

Weighted-Average Discount Rate

 

  

 

  

 

Operating leases

 

7.1

%  

7.1

%

 

Finance leases

 

8.0

%  

8.3

%

 

Future minimum lease payments under non-cancellable leases that have commenced as of June 30, 2025 were as follows (in thousands):

Operating

Finance

Years Ending December 31

    

Leases

    

Leases

2025 (excluding the six months ended June 30, 2025)

 

$

3,509

 

$

256

2026

 

6,299

 

496

2027

 

5,831

 

412

2028

 

5,399

 

281

2029

4,910

79

Thereafter

 

32,108

 

13

Total future minimum lease payments

 

58,056

 

1,537

Less: imputed interest

 

(16,726)

 

(176)

Total

$

41,330

$

1,361

Operating

Finance

Reported as of June 30, 2025

    

Leases

    

Leases

Current lease liabilities

$

3,889

$

427

Noncurrent lease liabilities

 

37,441

 

934

Total

$

41,330

$

1,361