XML 50 R35.htm IDEA: XBRL DOCUMENT v3.25.0.1
Leases (Tables)
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Components of Lease Expense
The following table summarizes the components of the Company’s lease expense recognized for the years ended December 31, 2024 and 2023:
Year Ended December 31,
20242023
(in thousands)
Operating lease expense
Operating lease right of use assets$13,256 $12,524 
Operating lease non right of use assets2,856 6,810 
Total operating lease expense$16,112 $19,334 
Finance lease expense
Depreciation of right of use assets$26 $89 
Interest on lease obligations27 69 
Total finance lease expense$53 $158 
Operating lease expense is included in the line items “Cost of revenues” and “General and administrative expenses”, depending on the nature of the lease, in the Company’s Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) for the years ended December 31, 2024 and 2023.
Supplemental information related to leases was as follows as of December 31, 2024 and 2023:
December 31,
20242023
Operating leases
Weighted average remaining lease term3.64.3
Weighted average discount rate6.0%5.8%
Finance leases
Weighted average remaining lease term0.70.7
Weighted average discount rate91.7%25.1%
Supplemental Balance Sheet Information Related to Leases
Supplemental balance sheet information related to leases was as follows as of December 31, 2024 and 2023:
December 31,
20242023
(in thousands)
Operating lease right of use assets
Operating lease right of use assets, gross$70,226 $65,026 
Less: Accumulated amortization(32,974)(22,970)
Operating lease right of use assets, net$37,252 $42,056 
Operating lease obligations
Current portion of operating lease obligations$11,216 $10,314 
Long-term operating lease obligations26,710 32,594 
Total operating lease obligations$37,926 $42,908 
Finance lease right of use assets
Finance lease right of use assets, gross$39 $70 
Less: Accumulated depreciation(10)(19)
Finance lease right of use assets, net$29 $51 
Finance lease obligations
Current portion of finance lease obligations$21 $31 
Long-term finance lease obligations— — 
Total finance lease obligations$21 $31 
Schedule of Operating Lease Liability Maturity
Future annual minimum lease payments as of December 31, 2024 were as follows:
Operating Lease Right of Use ObligationsFinance LeasesTotal
(in thousands)
2025$13,110 $28 $13,138 
202611,419 — 11,419 
20278,469 — 8,469 
20286,570 — 6,570 
20292,185 — 2,185 
Thereafter356 — 356 
Total lease payments$42,109 $28 $42,137 
Less: present value discount(4,183)(7)(4,190)
Present value of lease obligations$37,926 $21 $37,947 
Schedule of Financing Lease Liability Maturity
Future annual minimum lease payments as of December 31, 2024 were as follows:
Operating Lease Right of Use ObligationsFinance LeasesTotal
(in thousands)
2025$13,110 $28 $13,138 
202611,419 — 11,419 
20278,469 — 8,469 
20286,570 — 6,570 
20292,185 — 2,185 
Thereafter356 — 356 
Total lease payments$42,109 $28 $42,137 
Less: present value discount(4,183)(7)(4,190)
Present value of lease obligations$37,926 $21 $37,947 
Supplemental Cash Flow Information Related to Leases
Supplemental cash flow information related to leases for the years ended December 31, 2024 and 2023 were as follows:
Year Ended December 31,
20242023
(in thousands)
Cash paid for amounts included in the measurement of lease obligations:
Operating cash flows from operating leases$13,080 $12,344 
Operating cash flows from finance leases$26 $89 
Financing cash flows from finance leases$49 $217 
Right of use assets obtained in exchange for lease obligations:
Operating leases$6,307 $15,955 
Finance leases$39 $70