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Leases
 3 Months Ended
Mar. 31, 2025
Leases [Abstract]  
Leases Leases
We have operating and finance leases for corporate and business offices, service facilities, call centers and certain equipment. Leases with an initial term of 12 months or less are generally not recorded on the balance sheet, unless the arrangement includes an option to purchase the underlying asset, or an option to renew the arrangement, that we are reasonably certain to exercise (short-term lease). Our leases have remaining lease terms of one to eight years, some of which may include options to extend the leases for up to an additional five years.
As of March 31, 2025, assets recorded under finance and operating leases were approximately $0.7 million and $21.0 million, respectively, and accumulated amortization associated with finance leases was $0.2 million. As of December 31, 2024, assets recorded under finance and operating leases were approximately $0.8 million and $21.7 million, respectively, and accumulated amortization associated with finance leases was $0.1 million. Operating lease right of use assets and lease liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. The discount rate used to determine the commencement date present value of lease payment is the interest rate implicit in the lease, or when that is not readily determinable, we utilize our incremental borrowing rate, which is the rate incurred to borrow on a collateralized basis over a similar term at an amount equal to the lease payments in a similar economic environment. Certain adjustments to the right-of-use asset may be required for items such as initial direct costs paid or incentives received.
There was no impairment of leases during the three months ended March 31, 2025 and 2024.
The following table presents supplemental balance sheet information related to our financing and operating leases:
As of March 31, 2025
In thousandsOperating LeasesFinance LeasesTotal
Right-of-use Assets$20,993 $737 $21,730 
Liabilities
Short-term lease liabilities3,735 160 3,895 
Long-term lease liabilities19,294 584 19,878 
Total Lease Liabilities$23,029 $744 $23,773 
As of December 31, 2024
In thousandsOperating LeasesFinance LeasesTotal
Right-of-use Assets$21,678 $782 $22,460 
Liabilities:
Short-term lease liabilities3,578 158 3,736 
Long-term lease liabilities20,235 625 20,860 
Total Lease Liabilities$23,813 $783 $24,596 
For the three months ended March 31, 2025 and 2024, the components of lease expense were as follows:
Three Months Ended March 31,
In thousands20252024
Operating lease cost$1,265 $1,349 
Finance lease cost:
Amortization of right-of-use assets45 7 
Interest on lease liabilities15 1 
Total Finance lease cost60 8 
Variable lease cost407 447 
Sublease income— (158)
Total lease cost, net$1,732 $1,646 
Other information related to leases was as follows:
Three Months Ended March 31,
In thousands20252024
Supplemental Cash Flows Information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$2,447 $2,821 
Operating cash flows from finance leases14 1 
Financing cash flows from finance leases40 17 
Weighted Average Remaining Lease term
Operating leases6.26.8
Finance leases4.33.8
Weighted Average Discount Rate
Operating leases5.75 %5.68 %
Finance leases7.77 %8.06 %
The maturities of the Company’s finance and operating lease liabilities as of March 31, 2025 are as follows:
In thousandsOperating Leases Finance Leases
Year Ending December 31,
Remainder of 2025$3,804 $156 
20264,147 206 
20274,135 206 
20284,094 206 
20294,133 99 
2030 and beyond7,264 — 
Total future minimum lease payments27,577 873 
Less: imputed interest4,548 129 
Total lease liabilities$23,029 $744 
Leases Leases
We have operating and finance leases for corporate and business offices, service facilities, call centers and certain equipment. Leases with an initial term of 12 months or less are generally not recorded on the balance sheet, unless the arrangement includes an option to purchase the underlying asset, or an option to renew the arrangement, that we are reasonably certain to exercise (short-term lease). Our leases have remaining lease terms of one to eight years, some of which may include options to extend the leases for up to an additional five years.
As of March 31, 2025, assets recorded under finance and operating leases were approximately $0.7 million and $21.0 million, respectively, and accumulated amortization associated with finance leases was $0.2 million. As of December 31, 2024, assets recorded under finance and operating leases were approximately $0.8 million and $21.7 million, respectively, and accumulated amortization associated with finance leases was $0.1 million. Operating lease right of use assets and lease liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. The discount rate used to determine the commencement date present value of lease payment is the interest rate implicit in the lease, or when that is not readily determinable, we utilize our incremental borrowing rate, which is the rate incurred to borrow on a collateralized basis over a similar term at an amount equal to the lease payments in a similar economic environment. Certain adjustments to the right-of-use asset may be required for items such as initial direct costs paid or incentives received.
There was no impairment of leases during the three months ended March 31, 2025 and 2024.
The following table presents supplemental balance sheet information related to our financing and operating leases:
As of March 31, 2025
In thousandsOperating LeasesFinance LeasesTotal
Right-of-use Assets$20,993 $737 $21,730 
Liabilities
Short-term lease liabilities3,735 160 3,895 
Long-term lease liabilities19,294 584 19,878 
Total Lease Liabilities$23,029 $744 $23,773 
As of December 31, 2024
In thousandsOperating LeasesFinance LeasesTotal
Right-of-use Assets$21,678 $782 $22,460 
Liabilities:
Short-term lease liabilities3,578 158 3,736 
Long-term lease liabilities20,235 625 20,860 
Total Lease Liabilities$23,813 $783 $24,596 
For the three months ended March 31, 2025 and 2024, the components of lease expense were as follows:
Three Months Ended March 31,
In thousands20252024
Operating lease cost$1,265 $1,349 
Finance lease cost:
Amortization of right-of-use assets45 7 
Interest on lease liabilities15 1 
Total Finance lease cost60 8 
Variable lease cost407 447 
Sublease income— (158)
Total lease cost, net$1,732 $1,646 
Other information related to leases was as follows:
Three Months Ended March 31,
In thousands20252024
Supplemental Cash Flows Information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$2,447 $2,821 
Operating cash flows from finance leases14 1 
Financing cash flows from finance leases40 17 
Weighted Average Remaining Lease term
Operating leases6.26.8
Finance leases4.33.8
Weighted Average Discount Rate
Operating leases5.75 %5.68 %
Finance leases7.77 %8.06 %
The maturities of the Company’s finance and operating lease liabilities as of March 31, 2025 are as follows:
In thousandsOperating Leases Finance Leases
Year Ending December 31,
Remainder of 2025$3,804 $156 
20264,147 206 
20274,135 206 
20284,094 206 
20294,133 99 
2030 and beyond7,264 — 
Total future minimum lease payments27,577 873 
Less: imputed interest4,548 129 
Total lease liabilities$23,029 $744