XML 35 R20.htm IDEA: XBRL DOCUMENT v3.25.1
Leases
12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Leases Leases
The Company is obligated under operating leases for certain real estate and office equipment assets. The Company’s finance leases are not material. Certain leases contained predetermined fixed escalation of minimum rents at rates ranging from 2.5% to 4.6% per annum and remaining lease terms of up to ten years, some of which include renewal options that could extend certain leases to up to an additional five years.

The following table presents supplemental information related to leases:
December 31,
2024
December 31,
2023
Weighted average remaining lease term8.064.79
Weighted average discount rate13.52 %10.66 %

The table below summarizes total lease costs for the following periods:

Year Ended December 31,
202420232022
Operating lease expense$2,139 $1,149 $1,459 
Variable lease expense47 221 42 
Short-term lease expense18 117 398 
Rent expense$2,204 $1,487 $1,899 
Year Ended December 31,
202420232022
Sublease income recognized (1)
$72 $133 $48 
(1) As of December 31, 2024 and December 31, 2023, the Company has subleased two and one of its real estate leases.

The following table presents supplemental cash flow and non-cash information related to leases:
Year Ended December 31,
202420232022
Cash paid for amounts included in the measurement of lease liabilities - operating cash flows from leases$2,199 $1,430 $1,160 
Right-of-use assets obtained in exchange for lease obligations - non-cash activity$5,942 $— $2,027 
As of December 31, 2024, the future annual minimum lease payments for operating leases are as follows:
2025$2,357 
20262,275 
20271,695 
20281,668 
20291,713 
Thereafter7,352 
Total future minimum lease payments$17,060 
Less: amounts related to imputed interest
6,872 
Present value of future minimum lease payments10,188 
Less: current portion of long-term lease liability
1,068 
Long-term lease liability$9,120