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Leases | 3 Months Ended | 12 Months Ended
--- | --- | ---
Mar. 31, 2025 | Dec. 31, 2024
Leases [Abstract] |  |
Leases | Note 10. Leases The Company’s lease obligations primarily consist of operating leases for its headquarters complex, and domestic and international office facilities, with lease periods expiring between fiscal years 2026 and 2029, some of which include options to extend up to 12 months. The Company does not have any leases that include residual value guarantees. Payments under the lease arrangements are primarily fixed, however, certain lease agreements contain variable payments, which are expensed as incurred and not included in the operating lease assets and liabilities. These amounts include variable payments for maintenance services, utilities, and other expenses. The components of the net lease cost reflected in the Company’s condensed consolidated statements of operations were as follows:
|  | Three Months Ended March 31, |
(Amounts in thousands) |  | 2025 |  |  | 2024 |
Operating |  | $ | 200 |  |  | $ | 204 |
Short-term |  |  | 5 |  |  |  | 10 |
Total lease costs |  | $ | 205 |  |  | $ | 214 |
As of March 31, 2025, the Company’s operating leases had a weighted average remaining lease term of 3.1 years and a weighted average discount rate related to the Company’s right-of-use (“ROU”) assets and lease liabilities of 10.0%. As of December 31, 2024, the Company’s operating leases had a weighted average remaining lease term of 3.2 years and a weighted average discount rate related to the Company’s right-of-use assets and lease liabilities of 9.9%. Supplemental information related to operating leases was as follows:
|  | Three Months Ended March 31, |
(Amounts in thousands) |  | 2025 |  |  | 2024 |
Cash paid for amounts included in the measurement of operating lease liabilities |  | $ | 202 |  |  | $ | 192 |
Future minimum lease payments under the Company’s non-cancelable operating leases are as follows:
(Amounts in thousands) |  | As of March 31, 2025 |
2025 |  | $ | 526 |
2026 |  |  | 544 |
2027 |  |  | 431 |
2028 |  |  | 366 |
2029 |  |  | 15 |
Total future lease payments |  |  | 1,882 |
Less: Imputed interest |  |  | (290 | )
Present value of net future minimum lease payments |  |  | 1,592 |
Less: Operating lease liabilities, current |  |  | (542 | )
Total operating lease liabilities, non-current |  | $ | 1,050 |
| Note 9. Leases The Company’s lease obligations primarily consist of operating leases for its headquarters complex and domestic and international office facilities, with lease periods expiring between fiscal years 2026 and 2029, some of which include options to extend up to 12 months. The Company does not have any leases that include residual value guarantees. Payments under the lease arrangements are primarily fixed, however, certain lease agreements contain variable payments, which are expensed as incurred and not included in the operating lease assets and liabilities. These amounts include variable payments for maintenance services, utilities, and other expenses. During the year ended December 31, 2023, the Company executed three lease renewals for a period of five years and extinguished one lease prior to its scheduled termination date. The loss recognized on lease termination was immaterial. The components of the net lease cost reflected in the Company’s consolidated statements of operations were as follows for the years ended December 31, 2024 and 2023 (in thousands):
|  | 2024 |  |  | 2023 |
Operating lease costs |  | $ | 817 |  |  | $ | 989 |
Short-term lease costs |  |  | 26 |  |  |  | 46 |
|  | $ | 843 |  |  | $ | 1,035 |
As of December 31, 2024, the Company’s operating leases had a weighted average remaining lease term of 3.2 years and a weighted average discount rate related to the Company’s ROU assets and lease liabilities of 9.9 %. As of December 31, 2023, the Company’s operating leases had a weighted average remaining lease term of 4.0 years and a weighted average discount rate related to the Company’s ROU assets and lease liabilities of 9.8 %. Supplemental information related to operating leases was as follows for the years ended December 31, 2024 and 2023 (in thousands):
|  | 2024 |  |  | 2023 |
Cash paid for amounts included in the measurement of operating lease liabilities |  | $ | 785 |  |  | $ | 1,008 |
Right-of-use assets obtained in exchange for lease liabilities |  | $ | — |  |  | $ | 1,673 |
Right-of-use assets and lease liabilities extinguished upon termination of lease, net gain |  | $ | — |  |  | $ | 108 |
Short-term variable lease expenses |  | $ | 52 |  |  | $ | 202 |
As of December 31, 2024, future minimum lease payments under the Company’s non-cancelable operating leases are as follows (in thousands):
|  | Operating lease obligations |
2025 |  | $ | 721 |
2026 |  |  | 534 |
2027 |  |  | 421 |
2028 |  |  | 357 |
2029 |  |  | 13 |
Total |  |  | 2,046 |
Less: imputed interest |  |  | (302 | )
Present value of net future minimum lease payments |  |  | 1,744 |
Less: short-term operating lease liabilities |  |  | (578 | )
Long-term operating lease liabilities |  | $ | 1,166 |

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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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