XML 39 R28.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Leases (Tables)
6 Months Ended
Jun. 30, 2024
Leases  
Schedule of operating and finance lease right-of-use assets and related lease obligations

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

June 30,

​

December 31,

​

​

​

Leases

Classification

​

2024

    

2023

    

 

​

Assets

​

​

(in thousands)

​

 

​

Operating leases

Operating lease assets

​

$

28,918

​

$

30,716

​

​

​

Finance lease

Finance lease assets*

​

 

15,989

​

 

16,632

​

​

​

Total leased assets

​

​

$

44,907

​

$

47,348

​

​

​

Liabilities

​

​

​

​

​

​

​

​

​

​

Current

​

​

​

​

​

​

​

​

​

​

Operating

Other current liabilities

​

$

4,637

​

$

4,978

​

​

​

Finance

Current portion of finance lease obligation

​

​

1,452

​

​

1,511

​

​

​

Non-current

​

​

​

​

​

​

​

​

​

​

Operating

Other long-term liabilities

​

​

24,329

​

​

25,724

​

​

​

Finance

Finance lease obligation

​

 

43,004

​

 

43,674

​

​

​

Total lease liabilities

​

​

$

73,422

​

$

75,887

​

​

​

​

​

​

​

​

​

​

​

​

​

​

*Finance lease assets are recorded net of accumulated depreciation of $46.9 million and include $0.6 million of prepaid financing costs as of June 30, 2024. Finance lease assets are recorded net of accumulated depreciation of $46.4 million and include $0.6 million of prepaid financing costs as of December 31, 2023.

​

​

​

Schedule of lease costs

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three months ended

​

Six months ended

 

​

​

​

​

June 30,

​

June 30,

​

​

Lease cost

Classification

​

2024

    

2023

    

2024

    

2023

 

​

Operating lease cost

​

​

(in thousands)

 

​

Product / services*

Cost of revenue

​

$

1,694

​

$

1,821

​

$

3,522

​

$

3,287

​

​

Research and development

Operating expenses

​

 

203

​

 

137

​

 

326

​

 

243

​

​

Sales and marketing*

Operating expenses

​

 

451

​

 

417

​

 

902

​

 

813

​

​

General and administrative*

Operating expenses

​

 

337

​

 

239

​

 

532

​

 

515

​

​

Total operating lease cost

​

​

$

2,685

​

$

2,614

​

$

5,282

​

$

4,858

​

​

Finance lease cost

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Depreciation of leased assets

Cost of revenue, Research and development, Sales and marketing and General and administrative

​

$

321

​

$

318

​

$

643

​

$

637

​

​

Interest on lease liabilities

Interest expense

​

 

1,187

​

 

1,223

​

 

2,384

​

 

2,454

​

​

Total finance lease cost

​

​

$

1,508

​

$

1,541

​

$

3,027

​

$

3,091

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Total lease cost

​

​

$

4,193

​

$

4,155

​

$

8,309

​

$

7,949

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

* Product / services, sales and marketing and general and administrative expense also includes short-term lease and variable lease costs of approximately $0.7 million and $1.3 million for the three and six months ended June 30, 2024, respectively, and includes short-term lease and variable lease costs of approximately $0.5 million and $1.0 million for the three and six months ended June 30, 2023, respectively.

​

​

Schedule of future minimum operating and finance leases

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Finance

​

Operating

    

Total

 

Maturity of Lease Liabilities

​

Leases

​

Leases

​

Leases

​

​

​

(in thousands)

​

2024

​

$

3,132

​

$

3,740

​

$

6,872

​

2025

​

 

5,930

​

 

6,113

​

 

12,043

​

2026

​

 

6,008

​

 

4,448

​

 

10,456

​

2027

​

 

6,128

​

 

2,863

​

 

8,991

​

2028

​

​

6,251

​

​

1,959

​

​

8,210

​

Thereafter

​

​

55,336

​

​

23,205

​

​

78,541

​

Total lease payments

​

$

82,785

​

$

42,328

​

$

125,113

​

Less interest portion*

​

​

(38,329)

​

​

(13,362)

​

​

(51,691)

​

Finance lease and operating lease obligations

​

$

44,456

​

$

28,966

​

$

73,422

​

​

​

​

​

​

​

​

​

​

​

​

* Finance lease interest calculated using the implied interest rate; operating lease interest calculated using estimated corporate borrowing rate.

​

Schedule of weighted-average remaining lease term and discount rates

​

​

​

​

​

​

​

​

June 30,

​

Lease term and discount rate

    

2024

​

Weighted-average remaining lease term (years):

​

​

​

​

Operating leases

​

​

11.5

​

Finance leases

​

 

12.6

​

Weighted-average discount rate:

​

​

​

​

Operating leases

​

 

5.5%

​

Finance leases

​

 

10.5%

​

​

​

​

​

​

Schedule of cash outflows by lease type

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Six months ended June 30,

Cash paid for amounts included in the measurement of lease liabilities

    

2024

    

2023

​

​

(in thousands)

Operating cash outflows from operating leases

​

$

5,282

​

$

4,858

Operating cash outflows from finance leases

​

 

2,384

​

 

2,454

Financing cash outflows from finance leases

​

 

736

​

 

598

Operating lease assets obtained in exchange for operating lease liabilities

​

 

825

​

 

23,289

Finance lease assets obtained in exchange for new finance lease liabilities

​

 

—

​

 

—

​

​

​

​

​

​

​

​