Leases (Tables)

6 Months Ended

Jun. 30, 2025

Leases

Schedule of lease cost

As of June 30, 2025, there were no additional significant operating leases that have not yet commenced. Refer to the following table for quantitative information related to the Company’s leases for the three and six months ended June 30, 2025 and 2024 (dollars in thousands):

	Three Months Ended June 30, 2025						Six Months Ended June 30, 2025
	Related Parties		Others		Total		Related Parties		Others		Total
Lease Cost
Capitalized operating lease cost	$	—	$	461	$	461	$	—	$	922	$	922
Short-term lease cost		420		148		568		840		296		1,136
Total lease cost	$	420	$	609	$	1,029	$	840	$	1,218	$	2,058
Other Information
Cash paid for amounts included in the measurement of lease liabilities and capitalized operating leases:
Operating cash flows	$	—	$	512	$	512	$	—	$	1,025	$	1,025
Weighted-average remaining lease term (in years):
Capitalized operating leases								—		1.63		1.63
Weighted-average discount rate:
Capitalized operating leases								0.00%		4.32%		4.32%
	Three Months Ended June 30, 2024						Six Months Ended June 30, 2024
	Related Parties		Others		Total		Related Parties		Others		Total
Lease Cost
Capitalized operating lease cost	$	—	$	485	$	485	$	—	$	944	$	944
Short-term lease cost		421		140		561		841		281		1,122
Total lease cost	$	421	$	625	$	1,046	$	841	$	1,225	$	2,066
Other Information
Cash paid for amounts included in the measurement of lease liabilities and capitalized operating leases:
Operating cash flows	$	—	$	532	$	532	$	—	$	977	$	977
Weighted-average remaining lease term (in years):
Capitalized operating leases								—		2.43		2.43
Weighted-average discount rate:
Capitalized operating leases								3.92%		4.28%		4.21%

Schedule of future lease payments on capitalized operating leases

As of June 30, 2025, future lease payments over the remaining term of capitalized operating leases were as follows (in thousands):

For the Years Ended December 31,
2025, excluding the six months ended June 30, 2025	$	1,037
2026		1,205
2027		237
2028		161
2029		—
Thereafter		—
		2,640
Imputed interest		(89)
Lease liability balance at June 30, 2025	$	2,551