Leases

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

Leases

Leases

We have noncancelable leases for our buildings and growing facilities and we are obligated to make payments under noncancelable operating leases for automobiles used by our sales force.

The components of the lease expense for the years ended December 31, 2024, 2023 and 2022 were as follows (in thousands):

	Year Ended December 31,
Lease Cost	2024		2023		2022
Operating lease cost	$	22,209	$	19,394	$	19,670
Short-term lease cost	7,441		6,290		5,088
Variable lease cost	789		81		5
Sublease income	(472)		(22)		—
Finance Lease Cost
Interest on lease liabilities	442		377		429
Amortization of leased asset	413		481		472
Net lease cost	$	30,822	$	26,601	$	25,664

Supplemental balance sheet information related to operating and finance leases was as follows (in thousands):

		December 31,
Leases	Classification	2024		2023
Assets
Operating lease assets	Operating lease assets	$	53,582	$	65,340
Finance lease assets	Property, plant and equipment	3,917		4,450
Total lease assets		$	57,499	$	69,790
Liabilities
Current
Operating lease liabilities	Accrued liabilities	$	14,331	$	19,019
Finance lease liabilities	Accrued liabilities	448		428
Non-current
Operating lease liabilities	Operating lease liabilities, less current portion	38,938		59,225
Finance lease liabilities	Other non-current liabilities	4,561		5,039
Total lease liabilities		$	58,278	$	83,711

	December 31,
Lease Term and Discount Rate	2024		2023
Weighted-average remaining lease term (years)
Operating leases	4.3		5.1
Finance leases	10.4		11.2
Weighted-average discount rate
Operating leases	6.6	%	5.4	%
Finance leases	7.6	%	7.5	%

Supplemental cash flow information related to operating and finance leases was as follows (in thousands):

	Year Ended December 31,
	2024		2023		2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases	$	33,632	$	20,646	$	20,544
Operating cash outflows from finance leases	830		835		806
Financing cash outflows from finance leases	442		377		429
Non-cash operating activities:
Operating lease assets obtained in exchange for new operating lease liabilities	$	25,819	$	9,953	$	4,312
De-recognition of operating lease asset on lease assignment / termination	19,877		4,169		—
De-recognition of operating lease liability on lease assignment / termination	21,297		4,457		—

Maturities of operating and finance lease liabilities were as follows (in thousands):

Year Ending December 31,	Operating Leases		Finance Leases
2025	$	16,574	$	837
2026	12,596		811
2027	10,314		758
2028	9,020		601
2029	6,036		601
Thereafter	8,344		3,717
Total lease payments	62,884		7,325
Less imputed interest	(9,615)		(2,316)
Present value of lease liabilities	$	53,269	$	5,009

On October 11, 2024, we entered into a new lease agreement for premises located at 3000 El Camino Real, Palo Alto, California, with occupancy expected by July 1, 2025. The lease will be recognized on the lease commencement date with the lease ending in 2035.

Leases

Leases

We have noncancelable leases for our buildings and growing facilities and we are obligated to make payments under noncancelable operating leases for automobiles used by our sales force.

The components of the lease expense for the years ended December 31, 2024, 2023 and 2022 were as follows (in thousands):

	Year Ended December 31,
Lease Cost	2024		2023		2022
Operating lease cost	$	22,209	$	19,394	$	19,670
Short-term lease cost	7,441		6,290		5,088
Variable lease cost	789		81		5
Sublease income	(472)		(22)		—
Finance Lease Cost
Interest on lease liabilities	442		377		429
Amortization of leased asset	413		481		472
Net lease cost	$	30,822	$	26,601	$	25,664

Supplemental balance sheet information related to operating and finance leases was as follows (in thousands):

		December 31,
Leases	Classification	2024		2023
Assets
Operating lease assets	Operating lease assets	$	53,582	$	65,340
Finance lease assets	Property, plant and equipment	3,917		4,450
Total lease assets		$	57,499	$	69,790
Liabilities
Current
Operating lease liabilities	Accrued liabilities	$	14,331	$	19,019
Finance lease liabilities	Accrued liabilities	448		428
Non-current
Operating lease liabilities	Operating lease liabilities, less current portion	38,938		59,225
Finance lease liabilities	Other non-current liabilities	4,561		5,039
Total lease liabilities		$	58,278	$	83,711

	December 31,
Lease Term and Discount Rate	2024		2023
Weighted-average remaining lease term (years)
Operating leases	4.3		5.1
Finance leases	10.4		11.2
Weighted-average discount rate
Operating leases	6.6	%	5.4	%
Finance leases	7.6	%	7.5	%

Supplemental cash flow information related to operating and finance leases was as follows (in thousands):

	Year Ended December 31,
	2024		2023		2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases	$	33,632	$	20,646	$	20,544
Operating cash outflows from finance leases	830		835		806
Financing cash outflows from finance leases	442		377		429
Non-cash operating activities:
Operating lease assets obtained in exchange for new operating lease liabilities	$	25,819	$	9,953	$	4,312
De-recognition of operating lease asset on lease assignment / termination	19,877		4,169		—
De-recognition of operating lease liability on lease assignment / termination	21,297		4,457		—

Maturities of operating and finance lease liabilities were as follows (in thousands):

Year Ending December 31,	Operating Leases		Finance Leases
2025	$	16,574	$	837
2026	12,596		811
2027	10,314		758
2028	9,020		601
2029	6,036		601
Thereafter	8,344		3,717
Total lease payments	62,884		7,325
Less imputed interest	(9,615)		(2,316)
Present value of lease liabilities	$	53,269	$	5,009

On October 11, 2024, we entered into a new lease agreement for premises located at 3000 El Camino Real, Palo Alto, California, with occupancy expected by July 1, 2025. The lease will be recognized on the lease commencement date with the lease ending in 2035.