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LEASES
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
LEASES LEASES
The Company has operating leases for real estate and a finance lease for data center equipment. The operating and finance leases contain options to extend or terminate the leases. However, these were not included in the original accounting treatment of the leases as the Company is not reasonably certain to exercise these options.
During the year ended December 31, 2024, the Company did not enter into any new operating or finance lease agreements. During the year ended December 31, 2023, the Company entered into four operating lease agreements and renewed its finance lease. There were no new operating or finance lease agreements entered into during the year ended December 31, 2022.
The components of lease cost reflected on the Consolidated Statements of Operations were as follows (in thousands):
Year ended December 31,
202420232022
Finance lease cost:
Amortization of ROU assets $136 $506 $790 
Interest on lease liabilities24 14 22 
Total finance lease cost160 520 812 
Operating lease cost1,069 981 704 
Short-term lease cost524 379 320 
Total lease cost$1,753 $1,880 $1,836 
Other information related to leases was as follows (in thousands, except as noted within):
As of December 31,
20242023
Finance lease ROU asset (included within Lease right-of-use assets)$227 $364 
Operating lease ROU asset (included within Lease right-of-use assets)$5,214 $6,071 
Weighted average remaining lease term (in years):
Finance leases1.672.67
Operating leases8.329.18
Weighted average discount rate:
Finance leases8.10 %8.10 %
Operating leases8.30 %8.30 %
Supplemental cash flow information related to leases was as follows (in thousands):
Year ended December 31,
202420232022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$(516)$(564)$(790)
Operating cash flows from finance leases$(24)$(14)$(22)
Financing cash flows from finance leases$(129)$(513)$(793)
ROU assets obtained in exchange for finance lease liabilities$— $409 $— 
ROU assets obtained in exchange for operating lease liabilities$— $6,402 $— 
To calculate the ROU assets and liabilities, the Company uses the discount rate implicit in lease agreements when available. When the implicit discount rates are not readily determinable, the Company uses the incremental borrowing rate. For lease agreements entered into or renewed during the year ended December 31, 2023, the Company determined the incremental borrowing rate from a corporate yield curve corresponding with the lease term using information available on the commencement date.
Maturities of lease liabilities as of December 31, 2024 were as follows (in thousands):
Finance leasesOperating leases
For the year ending:
2025$153 $1,079 
2026102 1,018 
2027— 1,033 
2028— 1,063 
2029— 1,095 
Thereafter— 3,404 
Total future lease payments255 8,692 
Less: imputed interest(15)(2,465)
Less: lease liabilities, current(140)(589)
Lease liabilities, non-current$100 $5,638 
LEASES LEASES
The Company has operating leases for real estate and a finance lease for data center equipment. The operating and finance leases contain options to extend or terminate the leases. However, these were not included in the original accounting treatment of the leases as the Company is not reasonably certain to exercise these options.
During the year ended December 31, 2024, the Company did not enter into any new operating or finance lease agreements. During the year ended December 31, 2023, the Company entered into four operating lease agreements and renewed its finance lease. There were no new operating or finance lease agreements entered into during the year ended December 31, 2022.
The components of lease cost reflected on the Consolidated Statements of Operations were as follows (in thousands):
Year ended December 31,
202420232022
Finance lease cost:
Amortization of ROU assets $136 $506 $790 
Interest on lease liabilities24 14 22 
Total finance lease cost160 520 812 
Operating lease cost1,069 981 704 
Short-term lease cost524 379 320 
Total lease cost$1,753 $1,880 $1,836 
Other information related to leases was as follows (in thousands, except as noted within):
As of December 31,
20242023
Finance lease ROU asset (included within Lease right-of-use assets)$227 $364 
Operating lease ROU asset (included within Lease right-of-use assets)$5,214 $6,071 
Weighted average remaining lease term (in years):
Finance leases1.672.67
Operating leases8.329.18
Weighted average discount rate:
Finance leases8.10 %8.10 %
Operating leases8.30 %8.30 %
Supplemental cash flow information related to leases was as follows (in thousands):
Year ended December 31,
202420232022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$(516)$(564)$(790)
Operating cash flows from finance leases$(24)$(14)$(22)
Financing cash flows from finance leases$(129)$(513)$(793)
ROU assets obtained in exchange for finance lease liabilities$— $409 $— 
ROU assets obtained in exchange for operating lease liabilities$— $6,402 $— 
To calculate the ROU assets and liabilities, the Company uses the discount rate implicit in lease agreements when available. When the implicit discount rates are not readily determinable, the Company uses the incremental borrowing rate. For lease agreements entered into or renewed during the year ended December 31, 2023, the Company determined the incremental borrowing rate from a corporate yield curve corresponding with the lease term using information available on the commencement date.
Maturities of lease liabilities as of December 31, 2024 were as follows (in thousands):
Finance leasesOperating leases
For the year ending:
2025$153 $1,079 
2026102 1,018 
2027— 1,033 
2028— 1,063 
2029— 1,095 
Thereafter— 3,404 
Total future lease payments255 8,692 
Less: imputed interest(15)(2,465)
Less: lease liabilities, current(140)(589)
Lease liabilities, non-current$100 $5,638