Leases

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Leases

Note 7. Leases

The Company leases office space, warehouse and manufacturing space, and equipment. The Company's lease agreements have remaining lease terms of one year to 14 years, and some of these leases have renewal and termination options exercisable at the Company’s election. Terms and conditions to extend or terminate such leases are recognized as part of the right-of-use assets and lease liabilities where reasonably certain to be exercised. All of the Company's leases are operating leases.

Operating lease expense was $2.9 million and $3.2 million for the years ended December 31, 2023 and 2022, respectively. Cash paid for amounts included in the measurement of the lease liabilities was $2.8 million in each of the years ended December 31, 2023 and 2022. The weighted-average discount rate was 5.0% and the weighted-average remaining lease term was 8.9 years as of December 31, 2023.

Maturities of operating lease liabilities at December 31, 2023, is as follows (in thousands):

	Amount
2024	$	2,601
2025		2,354
2026		2,413
2027		2,416
2028		2,265
Thereafter		9,652
Total lease payments		21,701
Less: imputed interest		(4,494	)
Present value of lease liabilities	$	17,207