Leases (Tables)

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

Summary of Components of Lease Costs

The following table summarizes the components of lease costs included in the statements of operations for the periods indicated (in thousands):

	Year Ended December 31,
	2024		2023		2022
Operating lease cost	$	12,109	$	10,475	$	10,387
Finance lease cost
Amortization of right-of-use assets		602		602		602
Interest on lease liabilities		236		274		308
Variable lease cost		1,192		1,007		1,145
Total lease cost	$	14,139	$	12,358	$	12,442

Summary of Balance Sheet Information Related to Leases

The following table provides the details of balance sheet information related to leases as of the dates indicated (in thousands, except lease term and discount rate):

	December 31,
	2024			2023
Operating leases:
Operating lease right-of-use assets	$	42,908		$	38,302
Current portion of operating lease liabilities	$	9,879		$	8,189
Operating lease liabilities		40,548			37,345
Total operating lease liabilities	$	50,427		$	45,534
Finance leases:
Property, plant and equipment, gross	$	9,582		$	9,582
Accumulated depreciation		(6,874	)		(6,272	)
Finance lease assets included in property, plant and equipment, net	$	2,708		$	3,310
Accrued expenses and other current liabilities	$	759		$	718
Other liabilities		3,175			3,934
Total finance lease liabilities	$	3,934		$	4,652
Weighted-average remaining lease term (in years):
Operating leases		7.4			7.6
Finance leases		4.5			5.5
Weighted-average discount rate:
Operating leases		4.82	%		4.84	%
Finance leases		5.54	%		5.54	%

Summary of Cash Flow Information Related to Leases

The following table provides the details of cash flow information related to leases for the periods indicated (in thousands):

	Year Ended December 31,
	2024		2023		2022
Cash paid for amounts included in lease liabilities:
Operating cash flows from finance leases	$	236	$	274	$	308
Operating cash flows from operating leases	$	11,169	$	7,826	$	7,876
Financing cash flows from finance leases	$	718	$	657	$	599
Supplemental non-cash information:
Right-of-use assets obtained in exchange for new operating lease liabilities(1)	$	14,237	$	4,046	$	4,757
Right-of-use assets obtained in exchange for new finance lease liabilities	$	-	$	-	$	-

(1)

Future Minimum Lease Payments Under Operating and Finance Leases

Future minimum lease payments under operating and finance leases expiring subsequent to December 31, 2024, including operating leases associated with facilities that have been vacated as a result of the Company’s restructuring actions, are summarized as follows (in thousands):

Year Ending December 31,	Operating Leases			Finance Leases
2025	$	11,581		$	954
2026		10,445			979
2027		8,880			1,003
2028		6,084			1,003
2029		5,297			502
Thereafter		19,037			—
Total minimum lease payments		61,324			4,441
Less: interest		(10,897	)		(507	)
Present value of lease liabilities	$	50,427		$	3,934