Leases

9 Months Ended

Sep. 30, 2024

Leases [Abstract]

Leases

17.Leases

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

Leases recorded on the balance sheet consists of the following:

	September 30,		December 31,
Leases	2024		2023
Assets
Operating lease right-of-use assets, net (1)	$	29,202	$	25,696
Financing lease right-of-use assets, net (2)		25,179		23,602
Total assets	$	54,381	$	49,298
Liabilities
Current
Operating	$	8,215	$	9,254
Financing		10,852		8,665
Total current		19,067		17,919
Noncurrent
Operating		21,844		16,632
Financing		11,300		13,746
Total noncurrent		33,144		30,378
Total liabilities	$	52,211	$	48,297

(1) Operating lease right-of-use assets are recorded net of accumulated amortization of $23.1 million and $15.6 million as of September 30, 2024 and December 31, 2023, respectively.

(2) Financing lease right-of-use assets are recorded net of accumulated amortization of $15.8 million and $10.2 million as of September 30, 2024 and December 31, 2023, respectively.

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

	September 30,		December 31,
	2024		2023
Weighted Average Remaining Lease Term (in years)
Operating leases	8.11		5.90
Financing leases	2.48		2.83
Weighted Average Discount Rate
Operating leases	10.50	%	9.32	%
Financing leases	8.60	%	7.53	%

The components of lease expense are as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Operating lease costs:
Operating lease cost	$	3,374	$	2,497	$	9,416	$	5,440
Short-term lease cost (1)		1,103		424		2,953		1,565
Financing lease costs:
Interest on lease liabilities		446		262		1,277		651
Amortization of right-of-use assets		1,933		1,533		5,597		3,008
Total lease cost	$	6,856	$	4,716	$	19,243	$	10,664

(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:

	Nine Months Ended September 30,
	2024		2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	8,567	$	5,604
Operating cash flows for finance leases	$	1,277	$	651
Financing cash flows for finance leases	$	6,456	$	2,524
Non-cash activity:
ROU assets obtained in exchange for new operating lease liabilities	$	14,177	$	17,525
ROU assets obtained in exchange for new financing lease liabilities	$	7,426	$	11,533

Maturities of lease liabilities are summarized as follows:

	Operating Leases		Finance Leases
Year ending December 31,
2024 (excluding the nine months ended September 30, 2024)	$	1,893	$	3,434
2025		9,318		10,989
2026		445		5,162
2027		5,405		2,072
2028		4,352		1,193
Thereafter		32,241		1,880
Total future minimum lease payments		53,654		24,730
Less - amount representing interest		23,595		2,578
Present value of future minimum lease payments		30,059		22,152
Less - current lease obligations		8,215		10,852
Long-term lease obligations	$	21,844	$	11,300