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Leases (Tables)
12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Schedule of Information Related to Lease Costs

The components of lease expense were as follows (in thousands):

 

 

 

Years Ended December 31,

 

 

2024

 

 

2023

 

 

2022

 

Operating lease cost

 

$

12,594

 

 

$

7,771

 

 

$

6,622

 

 

 

 

 

 

 

 

 

 

Finance lease cost

 

 

 

 

 

 

 

 

 

Amortization of lease expense

 

 

670

 

 

 

675

 

 

 

564

 

Interest on lease liabilities

 

 

83

 

 

 

103

 

 

 

70

 

 

 

 

 

 

 

 

 

 

Sublease income

 

 

(248

)

 

 

(1,025

)

 

 

(649

)

 

 

 

 

 

 

 

 

 

Total lease cost

 

$

13,099

 

 

$

7,524

 

 

$

6,607

 

Other information related to leases was as follows (dollars in thousands):

 

 

 

Years Ended December 31 ,

 

 

2024

 

 

2023

 

 

2022

 

Supplemental Cash Flows Information

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

Operating cash flows from operating leases

 

$

11,574

 

 

$

7,783

 

 

$

6,781

 

Operating cash flows from finance leases

 

 

83

 

 

 

103

 

 

 

70

 

Financing cash flows from finance leases

 

 

670

 

 

 

675

 

 

 

564

 

 

 

 

 

 

 

 

 

 

Right-of-use assets obtained in exchange for lease liabilities:

 

 

 

 

 

 

 

 

 

Operating leases

 

 

14,117

 

 

 

25,124

 

 

 

 

Finance leases

 

 

152

 

 

 

486

 

 

 

971

 

 

 

 

December 31, 2024

 

 

December 31, 2023

 

Weighted-Average Remaining Lease Term

 

 

 

 

 

 

 

 

 

 

 

 

Operating leases

 

7.07 years

 

 

8.73 years

 

Finance leases

 

2.50 years

 

 

3.00 years

 

 

 

 

 

 

 

Weighted-Average Discount Rate

 

 

 

 

 

 

 

 

 

 

 

 

Operating leases

 

 

6.71

%

 

 

6.02

%

Finance leases

 

 

5.73

%

 

 

5.24

%

Schedule of Future Minimum Lease Payments Under Non-cancelable Leases

Future minimum lease payments under non-cancellable leases as of December 31, 2024 were as follows (in thousands):

 

Years ending December 31,

 

Operating
Leases

 

 

Finance
Leases

 

2025

 

$

7,611

 

 

$

607

 

2026

 

 

7,302

 

 

 

345

 

2027

 

 

6,797

 

 

 

267

 

2028

 

 

6,543

 

 

 

27

 

2029

 

 

5,412

 

 

 

8

 

Thereafter

 

 

12,832

 

 

 

 

 

 

 

 

 

 

Total future minimum lease payments

 

 

46,497

 

 

 

1,254

 

Less: imputed interest

 

 

10,493

 

 

 

93

 

Total lease obligations

 

 

36,004

 

 

 

1,161

 

Less: current portion

 

 

5,350

 

 

 

554

 

Long-term lease obligations

 

$

30,654

 

 

$

607