Leases

9 Months Ended

Sep. 30, 2024

Leases

Leases

5. Leases

Operating leases consist primarily of office space and manufacturing facilities expiring at various dates through 2029. Finance leases relate to server leases expiring at various dates through 2029. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants.

The undiscounted future non-cancellable lease payments under the Company’s operating and finance leases were as follows (in thousands):

As of September 30, 2024	Amount
2024	$	368
2025		1,482
2026		1,497
2027		1,380
2028		595
Thereafter		48
Total lease payments		5,370
Less: imputed interest		(412)
Total lease liabilities		4,958
Less: current portion of lease liabilities		(1,290)
Total lease liabilities, net of current portion	$	3,668

Other information related to the Company’s operating lease liabilities was as follows:

	September 30,		December 31,
	2024		2023
Weighted-average remaining lease term (years)	3.64		4.37
Weighted-average discount rate	4.50	%	4.50	%

Other information related to the Company’s finance lease liabilities was as follows:

	September 30,		December 31,
	2024		2023
Weighted-average remaining lease term (years)	4.36		1.09
Weighted-average discount rate	3.91	%	4.50	%