Note 7 - Leases

12 Months Ended

Dec. 31, 2024

Notes to Financial Statements

Leases Disclosure [Text Block]

7. LEASES

The Company has operating leases primarily for administrative, sales and marketing offices, manufacturing operations and R&D facilities, employee housing units and certain equipment. These leases have remaining lease terms from less than one year to 20 years. Some of these leases include options to renew the lease term for up to five years or on a month-to-month basis. The Company does not have finance lease arrangements.

The following table summarizes the balances of operating lease ROU assets and liabilities (in thousands):

		December 31,
	Financial Statement Line Item	2024		2023
Operating lease ROU assets	Other long-term assets	$	16,915	$	8,355
Operating lease liabilities	Other accrued liabilities	$	2,819	$	2,303
	Other long-term liabilities	$	12,974	$	5,565

The following tables summarize certain information related to the leases (in thousands, except percentages and years):

	Year Ended December 31,
	2024		2023		2022
Lease costs:
Operating lease costs	$	3,903	$	3,113	$	2,704
Other		2,840		2,120		1,769
Total lease costs	$	6,743	$	5,233	$	4,473

	Year Ended December 31,
	2024		2023		2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	4,346	$	2,954	$	2,762
ROU assets obtained in exchange for new operating lease liabilities	$	11,940	$	7,081	$	1,175

	December 31,
	2024			2023
Weighted-average remaining lease term (in years)		11.5			4.7
Weighted-average discount rate		5.5	%		4.3	%

As of December 31, 2024, the maturities of the lease liabilities were as follows (in thousands):

2025	$	3,618
2026		2,725
2027		2,292
2028		1,561
2029		1,190
Thereafter		11,461
Total remaining lease payments		22,847
Less: imputed interest		(7,054	)
Total lease liabilities	$	15,793

As of December 31, 2024, the operating leases that had not yet commenced were not material.