Leases

3 Months Ended

Mar. 31, 2024

Leases [Abstract]

Leases

16.Leases

The Company has operating and finance leases for office space, equipment and vehicles.

Leases recorded on the balance sheet consists of the following:

	March 31,		December 31,
Leases	2024		2023
Assets
Operating lease right-of-use assets, net (1)	$	26,723	$	25,696
Financing lease right-of-use assets, net (2)		25,463		23,602
Total assets	$	52,186	$	49,298
Liabilities
Current
Operating	$	9,416	$	9,254
Financing		10,018		8,665
Total current		19,434		17,919
Noncurrent
Operating		17,679		16,632
Financing		13,563		13,746
Total noncurrent		31,242		30,378
Total liabilities	$	50,676	$	48,297

(1) Operating lease right-of-use assets are recorded net of accumulated amortization of $18.0 million and $15.6 million as of March 31, 2024 and December 31, 2023, respectively.

(2) Financing lease right-of-use assets are recorded net of accumulated amortization of $12.0 million and $10.2 million as of March 31, 2024 and December 31, 2023, respectively.

Other information related to lease term and discount rate is as follows:

	March 31,		December 31,
	2024		2023
Weighted Average Remaining Lease Term (in years)
Operating leases	6.49		5.90
Financing leases	2.61		2.83
Weighted Average Discount Rate
Operating leases	9.42	%	9.32	%
Financing leases	7.70	%	7.53	%

The components of lease expense are as follows:

	Three Months Ended March 31,
	2024		2023
Operating lease costs:
Operating lease cost	$	2,991	$	1,390
Short-term lease cost (1)		905		641
Financing lease costs:
Interest on lease liabilities		407		195
Amortization of right-of-use assets		1,811		725
Total lease cost	$	6,114	$	2,951

(1) Includes expenses related to leases with a lease term of more than one month but less than one year.

Supplemental cash flow information related to leases is as follows:

	Three Months Ended March 31,
	2024		2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	2,810	$	1,391
Operating cash flows for finance leases	$	407	$	195
Financing cash flows for finance leases	$	1,971	$	779
Non-cash activity:
ROU assets obtained in exchange for new operating lease liabilities	$	3,465	$	1,028
ROU assets obtained in exchange for new financing lease liabilities	$	3,789	$	1,036

Maturities of lease liabilities are summarized as follows:

	Operating Leases		Finance Leases
Year ending December 31,
2024 (excluding the three months ended March 31, 2024)	$	8,524	$	8,487
2025		8,729		9,903
2026		3,488		4,439
2027		2,907		1,529
2028		1,880		752
Thereafter		14,702		831
Total future minimum lease payments		40,230		25,941
Less - amount representing interest		13,135		2,360
Present value of future minimum lease payments		27,095		23,581
Less - current lease obligations		9,416		10,018
Long-term lease obligations	$	17,679	$	13,563