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Leases (Tables)
12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Schedule of Lease Cost Recognized in Consolidated Statement of Operations and Other Lease Information

Lease cost recognized in the Consolidated Statements of Operations and other lease information is summarized as follows:

 

 

Year Ended December 31,

 

(In Thousands)

 

2024

 

 

2023

 

Operating lease cost

 

$

575

 

 

$

1,067

 

Finance lease cost:

 

 

 

 

 

 

Amortization of right-of-use assets

 

 

 

 

 

134

 

Interest on lease liabilities

 

 

72

 

 

 

90

 

Variable and short-term lease cost

 

 

23

 

 

 

182

 

Total lease cost

 

$

670

 

 

$

1,473

 

Other information:

 

 

 

 

 

 

Weighted-average remaining lease term - operating leases

 

 

2.6

 

 

 

3.6

 

Weighted-average remaining lease term - finance leases

 

 

0.9

 

 

 

1.9

 

Weighted-average discount rate - operating leases

 

 

7.0

%

 

 

6.7

%

Weighted-average discount rate - finance leases

 

 

14.1

%

 

 

14.1

%

Cash paid for operating leases

 

$

562

 

 

$

462

 

Cash paid for finance leases

 

$

459

 

 

$

268

 

 

Schedule of Future Payments Under Operating and Finance Lease Liabilities

As of December 31, 2024, the Company’s future payments under operating and finance lease liabilities were as follows:

(In Thousands)

 

Operating Leases

 

 

Finance Leases

 

2025

 

$

566

 

 

$

421

 

2026

 

 

397

 

 

 

 

2027

 

 

380

 

 

 

 

2028

 

 

 

 

 

 

2029 and thereafter

 

 

 

 

 

 

Gross future lease payments

 

$

1,343

 

 

$

421

 

Less: imputed interest

 

 

(127

)

 

 

(24

)

Present value of total lease liabilities

 

$

1,216

 

 

$

397

 

Less: current portion of lease liabilities

 

 

(495

)

 

 

(397

)

Total long-term lease liabilities

 

$

721

 

 

$