Leases

6 Months Ended

Jun. 30, 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:

	June 30,		December 31,
Leases	2024		2023
Assets
Operating lease right-of-use assets, net (1)	$	33,685	$	25,696
Financing lease right-of-use assets, net (2)		24,029		23,602
Total assets	$	57,714	$	49,298
Liabilities
Current
Operating	$	9,133	$	9,254
Financing		10,363		8,665
Total current		19,496		17,919
Noncurrent
Operating		24,948		16,632
Financing		11,315		13,746
Total noncurrent		36,263		30,378
Total liabilities	$	55,759	$	48,297

(1) Operating lease right-of-use assets are recorded net of accumulated amortization of $20.5 million and $15.6 million as of June 30, 2024 and December 31, 2023, respectively.

(2) Financing lease right-of-use assets are recorded net of accumulated amortization of $13.8 million and $10.2 million as of June 30, 2024 and December 31, 2023, respectively.

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

	June 30,		December 31,
	2024		2023
Weighted Average Remaining Lease Term (in years)
Operating leases	8.00		5.90
Financing leases	2.44		2.83
Weighted Average Discount Rate
Operating leases	9.40	%	9.32	%
Financing leases	7.67	%	7.53	%

The components of lease expense are as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Operating lease costs:
Operating lease cost	$	3,051	$	1,553	$	6,042	$	2,943
Short-term lease cost (1)		945		500		1,850		1,141
Financing lease costs:
Interest on lease liabilities		424		194		831		389
Amortization of right-of-use assets		1,853		750		3,664		1,475
Total lease cost	$	6,273	$	2,997	$	12,387	$	5,948

(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:

	Six Months Ended June 30,
	2024		2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	5,656	$	3,042
Operating cash flows for finance leases	$	831	$	389
Financing cash flows for finance leases	$	4,209	$	1,618
Non-cash activity:
ROU assets obtained in exchange for new operating lease liabilities	$	13,815	$	9,539
ROU assets obtained in exchange for new financing lease liabilities	$	4,208	$	1,520

Maturities of lease liabilities are summarized as follows:

	Operating Leases		Finance Leases
Year ending December 31,
2024 (excluding the six months ended June 30, 2024)	$	4,873	$	5,880
2025		9,428		10,014
2026		343		4,549
2027		5,337		1,640
2028		4,352		762
Thereafter		32,241		831
Total future minimum lease payments		56,574		23,676
Less - amount representing interest		22,493		1,998
Present value of future minimum lease payments		34,081		21,678
Less - current lease obligations		9,133		10,363
Long-term lease obligations	$	24,948	$	11,315