Leases (Tables)

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

Summary of Components of Net Lease Cost

The Company’s components of net lease cost for the years ended December 31, 2024, 2023 and 2022 is as follows:

	For the Twelve Months Ended December 31,
(in thousands)	2024		2023			2022
Finance lease – amortization of right of use assets	$	6,072	$	4,116		$	2,110
Finance lease – interest on lease liabilities		678		453			170
Operating lease cost		10,464		9,003			7,333
Variable lease cost		806		1,781			1,778
Short-term lease cost		120		100			52
Sublease income		—		(529	)		(874	)
Total	$	18,140	$	14,924		$	10,569

Supplemental Balance Sheet Information Related to Leases

Supplemental balance sheet information related to leases as of December 31, 2024 and 2023 is as follows:

	December 31, 2024			December 31, 2023
Weighted average remaining lease term:
Operating leases	6.50 years			6.27 years
Finance leases	2.12 years			2.24 years
Weighted average discount rate:
Operating leases		6.59	%		5.27	%
Finance leases		7.23	%		6.20	%

Supplemental Cash Flow Information Related to Leases

Supplemental cash flow information related to leases for the years ended December 31, 2024, 2023 and 2022 is as follows:

	For the Twelve Months Ended December 31,
(in thousands)	2024		2023		2022
Lease liabilities arising from obtaining right-of-use assets
Operating leases	$	31,563	$	13,138	$	6,431
Finance leases		6,373		6,369		6,003
Cash payments on leases
Operating cash flows from operating leases	$	10,615	$	8,251	$	8,088
Operating cash flows from finance leases		489		413		160
Financing cash flows from finance leases		5,698		3,865		2,272

Summary of Future Minimum Non-cancelable Operating and Finance Leases Mature

Future minimum non-cancelable operating and finance leases mature as follows:

	Leases
(in thousands)	Finance			Operating			Total
2025	$	5,998		$	13,660		$	19,658
2026		3,706			11,885			15,591
2027		1,143			10,266			11,409
2028		330			8,615			8,945
2029		9			7,176			7,185
Thereafter		—			18,184			18,184
Subtotal		11,186			69,786			80,972
Less: amounts representing interest*		(841	)		(14,086	)		(14,927	)
Present value of payments	$	10,345		$	55,700		$	66,045

* Interest rates range from 2.08% - 13.09%.