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Leases (Tables)
12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Components of Lease Cost and Other Lease

The following table presents the Company’s total lease cost and other lease details for the periods indicated (in thousands, except years and discount rates):

 

 

 

Years Ended December 31,

 

 

 

2024

 

 

2023

 

 

2022

 

Lease cost:

 

 

 

 

 

 

 

 

 

Operating lease cost

 

$

12,577

 

 

$

13,081

 

 

$

13,008

 

Short-term lease cost

 

 

619

 

 

 

579

 

 

 

582

 

Variable lease cost

 

 

632

 

 

 

783

 

 

 

514

 

Total lease cost

 

$

13,828

 

 

$

14,443

 

 

$

14,104

 

Other information:

 

 

 

 

 

 

 

 

 

Cash paid for amounts included in the measurement of operating lease liabilities

 

$

14,525

 

 

$

9,862

 

 

$

14,224

 

ROU assets obtained in exchange for new operating lease liabilities

 

$

6,032

 

 

$

6,183

 

 

$

1,563

 

Weighted average remaining lease term in years – operating leases

 

 

5.8

 

 

 

6.6

 

 

 

7.5

 

Weighted average discount rate – operating leases

 

 

6.0

%

 

 

6.0

%

 

 

6.1

%

 

Schedule of Maturities of Operating Lease Liabilities

The following table presents the maturities of the Company’s operating lease liabilities as of December 31, 2024 (in thousands):

 

For the year ended December 31,

 

 

 

2025

 

$

14,037

 

2026

 

 

14,596

 

2027

 

 

13,826

 

2028

 

 

13,667

 

2029

 

 

12,943

 

Thereafter

 

 

9,548

 

Total lease payments

 

 

78,617

 

Less: imputed interest

 

 

(11,830

)

Total

 

$

66,787

 

 

 

 

 

Reported as:

 

 

 

Current operating lease liabilities

 

$

10,384

 

Non-current operating lease liabilities

 

 

56,403

 

Total

 

$

66,787