Leases (Tables)

12 Months Ended

Dec. 31, 2024

Leases

Schedule of operating and finance lease right-of-use assets and related lease obligations

		December 31,		December 31,
Leases	Classification	2024		2023
Assets		(in thousands)
Operating leases	Operating lease assets	$	29,621	$	30,716
Finance lease	Finance lease assets*		15,346		16,632
Total leased assets		$	44,967	$	47,348
Liabilities
Current
Operating	Other current liabilities	$	4,470	$	4,978
Finance	Current portion of finance lease obligation		1,345		1,511
Non-current
Operating	Other long-term liabilities		25,321		25,724
Finance	Finance lease obligation		42,329		43,674
Total lease liabilities		$	73,465	$	75,887
*Finance lease assets are recorded net of accumulated depreciation of $47.4 million and include $0.5 million of prepaid financing costs as of December 31, 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

		Year ended
		December 31,
Lease cost	Classification	2024		2023		2022
Operating lease cost		(in thousands)
Product / services*	Cost of revenue	$	6,898	$	7,297	$	5,427
Research and development	Operating expenses		622		587		322
Sales and marketing*	Operating expenses		1,817		1,674		1,526
General and administrative*	Operating expenses		991		1,111		1,065
Total operating lease cost		$	10,328	$	10,669	$	8,340
Finance lease cost
Depreciation of leased assets	Cost of revenue, Research and development, Sales and marketing and General and administrative	$	1,285	$	1,310	$	1,296
Interest on lease liabilities	Interest expense		4,727		4,874		4,992
Total finance lease cost		$	6,012	$	6,184	$	6,288
Total lease cost		$	16,340	$	16,853	$	14,628
* Product / services, sales and marketing and general and administrative expense also includes short-term lease and variable lease costs of approximately $2.1 million, $2.1 million and $1.8 million for the years ended December 31, 2024, 2023 and 2022, respectively.

Schedule of future minimum operating and finance leases

	Finance		Operating		Total
Maturity of Lease Liabilities	Leases		Leases		Leases
	(in thousands)
2025	$	5,930	$	6,663	$	12,593
2026		6,008		5,083		11,091
2027		6,128		3,339		9,467
2028		6,251		2,381		8,632
2029		6,376		2,269		8,645
Thereafter		48,960		22,384		71,344
Total lease payments	$	79,653	$	42,119	$	121,772
Less interest portion*		(35,979)		(12,328)		(48,307)
Finance lease and operating lease obligations	$	43,674	$	29,791	$	73,465
* 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

	December 31,
Lease term and discount rate	2024
Weighted-average remaining lease term (years):
Operating leases		11.0
Finance leases		12.1
Weighted-average discount rate:
Operating leases		5.5%
Finance leases		10.5%

Schedule of cash outflows by lease type

	Year ended December 31,
Cash paid for amounts included in the measurement of lease liabilities	2024		2023		2022
	(in thousands)
Operating cash outflows from operating leases	$	10,328	$	10,669	$	8,340
Operating cash outflows from finance leases		4,727		4,874		4,992
Financing cash outflows from finance leases		1,525		1,240		987
Operating lease assets obtained in exchange for operating lease liabilities		5,324		26,890		6,173
Finance lease assets obtained in exchange for new finance lease liabilities		—		—		—