Leases

6 Months Ended

Jun. 30, 2024

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 13 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.

The components of lease expense and other information related to leases were as follows (in thousands):


	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2024		2023		2024		2023
Operating lease expense	$	745	$	641	$	1,491	$	1,401
Variable lease expense		109		54		217		110
Total lease expense	$	854	$	695	$	1,708	$	1,511

Cash paid for amounts included in the measurement of the lease liabilities was $0.7 million and $1.4 million for the three and six months ended June 30, 2024, respectively, and cash paid for amounts included in the measurement of the lease liabilities was $0.7 million and $1.5 million for the three and six months ended June 30, 2023, respectively. The weighted-average discount rate was 4.9% and the weighted-average remaining lease term was 8.4 years as of June 30, 2024.

Maturities of operating lease liabilities at June 30, 2024 were as follows (in thousands):


	Amount
Remainder of 2024	$	1,404
2025		2,569
2026		2,627
2027		2,631
2028		2,480
Thereafter		10,296
Total lease payments		22,007
Less: imputed interest		(4,314	)
Present value of lease liabilities	$	17,693