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Leases | 3 Months Ended
--- | ---
Mar. 31, 2025
Leases [Abstract] |
Leases | Leases The Company has operating leases for real estate and certain equipment. The Company leases office space in Canada, Germany, Spain, the U.K. and the U.S. under operating leases. Our leases have remaining lease terms ranging from less than one year to up to seven years. Certain leases include one or more options to renew. All of our leases qualify as operating leases. The following table summarizes the components of lease expense for the three months ended March 31, 2025 and 2024 (in thousands):
| Three Months Ended |  |
| March 31, |  |
| 2025 |  | 2024 |  |  |  |
Operating lease cost | $ | 552 |  |  | $ | 532 |  |  |  |  |
Short-term lease cost | 140 |  |  | 137 |  |  |  |  |
Variable lease cost | 114 |  |  | 120 |  |  |  |  |
Total lease cost | $ | 806 |  |  | $ | 789 |  |  |  |  |
Cash payments against the operating lease liabilities totaled $861,000 and $857,000 for the three months ended March 31, 2025 and 2024. ROU assets obtained in exchange for lease obligations was $321,000 and $235,000 for the three months ended March 31, 2025 and 2024, respectively. The following table s ummarizes the presentation in our condensed consolidated balance sheets of our operating leases (in thousands):
|  |  | March 31, 2025 |  | December 31, 2024
Assets: |  |  |  |
| Operating lease right-of-use assets |  | $ | 5,605 |  |  | $ | 5,655 |
Liabilities: |  |  |  |
| Operating lease liabilities |  | $ | 2,690 |  |  | $ | 2,472 |
| Long-term operating lease liabilities |  | 5,251 |  |  | 5,646 |
| Total operating lease liabilities |  | $ | 7,941 |  |  | $ | 8,118 |
Weighted average remaining lease term (years) |  | 4.08 |  | 4.43
Weighted average discount rate |  | 5.0 | % |  | 4.8 | %
Maturities of lease liabilities were as follows (in thousands):
Years ending December 31, |
2025 (excluding the three months ended March 31, 2025) | $ | 2,246 |
2026 | 1,812 |
2027 | 1,459 |
2028 | 1,459 |
2029 | 1,449 |
Thereafter | 225 |
Total lease payments | 8,650 |
Less interest | (709) |
Present value of operating lease liabilities | $ | 7,941 |

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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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