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Commitments and Contingencies (Tables)
3 Months Ended
Mar. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Summary of Components of Lease Cost

The components of lease cost are presented in the following table:

 

 

 

Three Months Ended March 31,

 

($ in thousands)

 

2025

 

 

2024

 

Components of total lease costs:

 

 

 

 

 

 

Operating lease cost

 

$

604

 

 

$

428

 

Short-term lease cost

 

 

6

 

 

 

6

 

Total lease cost

 

$

610

 

 

$

434

 

Schedule of Operating Lease and Supplemental Information

Amounts reported in the Condensed Consolidated Balance Sheets were as follows:

 

($ in thousands)

 

March 31, 2025

 

 

December 31, 2024

 

Operating leases:

 

 

 

 

 

 

ROU assets

 

$

10,713

 

 

$

11,142

 

Lease liability, current

 

 

1,266

 

 

 

1,230

 

Lease liability, long-term

 

 

10,043

 

 

 

10,507

 

Total lease liabilities

 

$

11,309

 

 

$

11,737

 

 

 

 

 

 

 

Weighted-average remaining lease term (in years)

 

 

5.3

 

 

 

5.6

 

Weighted-average discount rate (annualized)

 

 

6.3

%

 

 

6.2

%

Summary of Other Information Related to Lease

Other information related to leases are as follows:

 

 

 

Three Months Ended March 31,

 

($ in thousands)

 

2025

 

 

2024

 

Cash paid for amounts included in the measurement of lease liabilities:

 

 

 

 

 

 

Operating cash flows from operating leases

 

$

610

 

 

$

551

 

ROU assets obtained in exchange for lease liabilities:

 

 

 

 

 

 

Operating leases

 

 

 

 

 

 

 

Schedule of Maturity Analysis of the Company's Operating Leases Liabilities

The following table presents a maturity analysis of the Company’s operating leases liabilities as of March 31, 2025:

 

($ in thousands)

 

 

 

2025

 

$

1,311

 

2026

 

 

2,320

 

2027

 

 

2,028

 

2028

 

 

1,867

 

2029

 

 

1,674

 

Thereafter

 

 

5,039

 

Total undiscounted lease payments

 

 

14,239

 

Less: Imputed interest

 

 

2,930

 

Total lease liabilities

 

$

11,309