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Leases
12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Leases Leases
As of December 31, 2024, we had non-cancelable operating leases for our corporate headquarters and manufacturing facilities located in Fremont, California and in Brighton, Colorado. Our Fremont, California lease, which expires in June 2027, provides us an option to extend the term for one additional five-year period and we determined with reasonable certainty that we will exercise such option. Our Brighton, Colorado lease, which expires in May 2039, provides us an option to extend the term for two additional five-year periods, but we have not determined with reasonable certainty that we will exercise such option. Our operating leases do not contain any material residual value guarantees. We had no leases that were classified as finance leases as of December 31, 2024 and 2023.
The components of lease expense during the years ended December 31, 2024 and 2023 are shown in the table below (in thousands).
Year ended December 31,
20242023
Operating lease expense$5,143 $1,147 
Variable lease expense1,741 456 
Short-term lease expense95 81 
Total lease expense$6,979 $1,684 
Other information about our operating leases during the years ended December 31, 2024 and 2023 are shown in the table below (amounts in thousands).
Year ended December 31,
20242023
Cash paid for amounts included in the measurement of operating lease
   liabilities
$1,314 $1,001 
Right-of-use assets obtained in exchange for new operating lease liabilities$— $32,966 
Weighted-average remaining lease term13.5 years14.4 years
Weighted-average discount rate 9.5 %9.4 %
Future operating lease payments as of December 31, 2024 are as follows (in thousands):
Year ending December 31:Amount
2025$3,450 
20262,534 
20275,025 
20285,185 
20295,344 
Thereafter48,440 
Gross lease payments69,978 
Less - present value adjustments(32,219)
Total operating lease liabilities$37,759