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LEASES | 3 Months Ended
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Mar. 31, 2025
Leases [Abstract] |
LEASES | LEASES The Company's lease population of its right-of-use assets and lease liabilities is substantially related to the rental of office space. The Company enters into lease agreements as a lessee that may include options to extend or terminate early. Some of these real estate leases require variable payments of property taxes, insurance, and common area maintenance, in addition to base rent. Certain of the leases have provisions for free rent during the lease term and/or escalating rent payments and, particularly for the Company’s longer-term leases for its corporate offices, it has received incentives to enter into the leases, such as receiving up to a specified dollar amount to construct tenant improvements. These leases do not include residual value guarantees, covenants, or other restrictions. The table below presents the lease-related assets and liabilities included on the condensed consolidated balance sheets:
Classification on Condensed Consolidated Balance Sheets: | March 31, 2025 |  | December 31, 2024
| (amounts in thousands)
Operating lease right-of-use assets | $ | 2,219 |  |  | $ | 2,468 |
Operating lease liabilities - current | $ | 1,687 |  |  | $ | 2,089 |
Operating lease liabilities - non-current | $ | 1,623 |  |  | $ | 1,782 |
| March 31, 2025 |  | December 31, 2024
Weighted average remaining lease term | 2.5 years |  | 2.6 years
Weighted average discount rate | 7.12 | % |  | 7.05 | %
The table below reconciles the undiscounted cash flows for each of, and total of, the remaining years to the operating lease liabilities (which do not include short-term leases) recorded on the condensed consolidated balance sheets as of March 31, 2025:
| (amounts in thousands)
Years Ending December 31: |
2025 | $ | 1,663 |
2026 | 728 |
2027 | 602 |
2028 | 523 |
2029 | 136 |
Thereafter | — |
Total minimum lease payments | 3,652 |
Less: amount of lease payments representing interest | (342) |
Present value of future minimum lease payments | 3,310 |
Less: operating lease liabilities - current | (1,687) |
Operating lease liabilities - non-current | $ | 1,623 |
Other Information The table below provides information regarding supplemental cash flows:
| Three Months Ended
| March 31,
| 2025 |  | 2024
| (amounts in thousands)
Supplemental Cash Flow Information: |  |  |
Cash paid for amounts included in the measurement of operating lease liabilities | $ | 625 |  |  | $ | 863 |
Right-of-use assets acquired under operating lease | $ | — |  |  | $ | 11 |
The components of lease expense are as follows:
| Three Months Ended |  |
| March 31, |  |
| 2025 |  | 2024 |  |
| (amounts in thousands)
Amounts Included in Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income: |  |  |  |  |
Operating lease expense | $ | 313 |  |  | $ | 322 |  |  |
Short-term lease expense | $ | 268 |  |  | $ | 597 |  |  |
Variable and other lease costs | $ | 60 |  |  | $ | 628 |  |  |
Operating lease expense, short-term lease expense, and variable and other lease costs are included in selling, general and administrative expenses, direct operating expenses, and restructuring costs in the condensed consolidated statements of operations and comprehensive (loss) income, depending on the nature of the leased asset. Operating lease expense is reported net of sublease income, which is not material. As of March 31, 2025, the Company did not have any material operating leases that had not yet commenced, and does not have any finance lease contracts.

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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