Leases

12 Months Ended

Dec. 31, 2024

Leases

Leases

5. Leases 

All leases were classified as operating leases as of December 31, 2024 and 2023.

Components of operating lease expense were as follows (in thousands): 

	Year Ended December 31,
	2024		2023
Operating lease cost	$	5,133	$	4,852
Variable lease cost	$	209	$	154
Short-term lease cost	$	311	$	363

Supplemental information related to operating leases was as follows (in thousands): 

	Year Ended December 31,
	2024		2023
Operating cash flows from operating leases	$	4,574	$	4,577
Right-of-use assets obtained in exchange for new operating lease liabilities	$	2,068	$	4,252

As of December 31, 2024, the Company's operating leases had a weighted average remaining lease term of 6.6 years and a weighted average discount rate of 8.1%. 

Future lease payments under operating leases as of December 31, 2024 were as follows (in thousands):

2025	$	3,848
2026		3,589
2027		2,944
2028		2,744
2029		2,525
Thereafter		6,331
Total undiscounted future lease payments	$	21,981
Less imputed interest		5,167
Total lease liability balance	$	16,814

As of December 31, 2024, and 2023, the Company did not enter into leases that have not yet commenced.