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LEASES (Tables)
6 Months Ended
Jun. 30, 2025
Leases [Abstract]  
Summary of Operating Lease Cost and Supplemental Cash Flow Information Related to Operating Leases

The following table presents the Company’s operating lease cost and supplemental cash flow information related to the Company’s operating leases (in thousands):

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Operating lease cost

 

$

942

 

 

$

1,089

 

 

$

1,858

 

 

$

2,192

 

Non-cash activity:

 

 

 

 

 

 

 

 

 

 

 

 

Right-of-use assets obtained in exchange for lease obligations

 

$

 

 

$

 

 

$

709

 

 

$

 

Schedule of Operating Lease Right of Use Assets and Liabilities

The following table presents the Company’s operating lease right-of-use assets and liabilities (in thousands):

 

 

 

June 30, 2025

 

 

December 31, 2024

 

Right-of-use assets

 

$

19,067

 

 

$

19,867

 

Short-term lease liabilities

 

 

4,049

 

 

 

3,848

 

Long-term lease liabilities

 

 

17,789

 

 

 

19,135

 

Schedule of Weighted Average Assumptions Used to Compute Right-of-use Assets and Lease Liabilities

The following table presents weighted average assumptions used to compute the Company’s right-of-use assets and lease liabilities:

 

 

 

June 30, 2025

 

Weighted average remaining lease term (in years)

 

 

5.5

 

Weighted average discount rate

 

 

3.7

%

Schedule of Undiscounted Future Minimum Lease Payments Having Non-cancelable Lease Terms

Undiscounted future minimum lease payments as of June 30, 2025, by year and in the aggregate, having non-cancelable lease terms in excess of one year were as follows (in thousands):

 

 

 

Maturities of
Operating Lease Liabilities

 

2025(1)

 

$

2,248

 

2026

 

 

4,546

 

2027

 

 

4,476

 

2028

 

 

4,185

 

2029

 

 

2,753

 

Thereafter

 

 

5,466

 

Total lease payments

 

 

23,674

 

Less: Imputed interest

 

 

(1,836

)

Present value of lease payments

 

$

21,838

 

 

(1)
Scheduled maturities of lease liabilities represent the period from July 1, 2025 to December 31, 2025.