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Leases | 9 Months Ended
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Sep. 30, 2024
Leases [Abstract] |
Leases | Note 9: Leases The Company has operating leases for its corporate office headquarters in Seattle, Washington, and office space in Wichita, Kansas. The Company recognizes its operating lease agreements in accordance with ASC 842 and recognizes rent expense on a straight-line basis over the lease term with any lease incentives amortized as a reduction of rent expense over the lease term. Assets under operating leases are included in Right-of-use lease assets, and the related liabilities are included in Operating lease liability, current and Operating lease liability, non-current on the Condensed Consolidated Balance Sheets. Assets under finance leases, which primarily represent computer equipment, are subject to a rental agreement for a third-party's utilization of this equipment; however, we retain our primary obligation under the original financing terms. Therefore, the Company does not have a right-of-use asset, but it does carry the lease liability related to this financed equipment, on the Condensed Consolidated Balance Sheets. The present value of the rent receivable from the rental agreement is included in Other assets, net, and the related lease liability is included in Other accrued expenses and current liabilities and Finance lease liability, non-current on the Condensed Consolidated Balance Sheets. Lease cost recognized in the Condensed Consolidated Statements of Operations and other lease information is summarized as follows:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
(In Thousands) |  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Operating lease cost |  | $ | 144 |  |  | $ | 155 |  |  | $ | 431 |  |  | $ | 798 |
Finance lease cost: |  |  |  |  |  |  |  |  |  |  |  |
Amortization of right-of-use assets |  |  | — |  |  |  | 66 |  |  |  | — |  |  |  | 134 |
Interest on lease liabilities |  |  | 17 |  |  |  | 27 |  |  |  | 58 |  |  |  | 65 |
Variable and short-term lease cost |  |  | 5 |  |  |  | 44 |  |  |  | 14 |  |  |  | 182 |
Total lease cost |  | $ | 166 |  |  | $ | 292 |  |  | $ | 503 |  |  | $ | 1,179 |
Other information: |  |  |  |  |  |  |  |  |  |  |  |
Weighted-average remaining lease term - operating leases |  |  | 2.8 |  |  |  | 3.8 |  |  |  |  |  |  |
Weighted-average remaining lease term - finance leases |  |  | 1.2 |  |  |  | 2.2 |  |  |  |  |  |  |
Weighted-average discount rate - operating leases |  |  | 6.9 | % |  |  | 6.6 | % |  |  |  |  |  |
Weighted-average discount rate - finance leases |  |  | 14.1 | % |  |  | 14.1 | % |  |  |  |  |  |
Cash paid for operating leases |  | $ | 145 |  |  | $ | 162 |  |  | $ | 421 |  |  | $ | 1,573 |
Cash paid for finance leases |  | $ | 115 |  |  | $ | 97 |  |  | $ | 344 |  |  | $ | 163 |
As of September 30, 2024, the Company’s future payments under operating and finance lease liabilities were as follows:
(In Thousands) |  | Operating Leases |  |  | Finance Leases |
2024 |  | $ | 141 |  |  | $ | 115 |
2025 |  |  | 566 |  |  |  | 421 |
2026 |  |  | 397 |  |  |  | — |
2027 |  |  | 380 |  |  |  | — |
2028 and thereafter |  |  | — |  |  |  | — |
Gross future lease payments |  |  | 1,484 |  |  |  | 536 |
Less: imputed interest |  |  | (148 | ) |  |  | (115 | )
Present value of total lease liabilities |  |  | 1,336 |  |  |  | 421 |
Less: current portion of lease liabilities |  |  | (499 | ) |  |  | (251 | )
Total long-term lease liabilities |  | $ | 837 |  |  | $ | 170 |

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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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