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Leases (Tables)
6 Months Ended
Jun. 30, 2025
Lessee Disclosure [Abstract]  
Schedule of components of lease expense

The components of the lease expense are as follows (in thousands):

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Finance lease expense:

 

 

 

 

 

 

 

 

 

 

 

 

Amortization of right-of-use-assets

 

$

355

 

 

$

1,324

 

 

$

725

 

 

$

2,585

 

Interest on lease liabilities

 

 

182

 

 

 

364

 

 

 

400

 

 

 

739

 

Total finance lease expense

 

 

537

 

 

 

1,688

 

 

 

1,125

 

 

 

3,324

 

Operating lease expense

 

 

289

 

 

 

261

 

 

 

596

 

 

 

361

 

Short-term lease expense

 

 

9,582

 

 

 

8,919

 

 

 

18,636

 

 

 

17,395

 

Total lease expense

 

$

10,408

 

 

$

10,868

 

 

$

20,357

 

 

$

21,080

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Other information:

 

 

 

 

 

 

 

 

 

 

 

 

Operating cash flows used for finance leases

 

$

(194

)

 

$

(365

)

 

$

(426

)

 

$

(768

)

Operating cash flows used for operating leases

 

$

(313

)

 

$

(291

)

 

$

(651

)

 

$

(409

)

Financing cash flows used for finance leases

 

$

(828

)

 

$

(2,297

)

 

$

(1,673

)

 

$

(4,193

)

 

 

 

 

 

June 30, 2025

December 31, 2024

Weighted-average remaining lease term - finance leases

 

1.3 years

1.7 years

Weighted-average remaining lease term - operating leases

 

2.6 years

3.0 years

Weighted-average discount rate - finance leases

 

18.2%

18.2%

Weighted-average discount rate - operating leases

 

17.0%

16.9%

Schedule of maturities of noncancellable operating lease liabilities

Maturities of the lease liability under the noncancellable operating leases as of June 30, 2025 are as follows (in thousands):

 

 

Operating Leases

 

Remainder of 2025

 

$

537

 

2026

 

 

1,074

 

2027

 

 

568

 

2028

 

 

331

 

2029

 

 

57

 

Thereafter

 

 

 

Total undiscounted lease payments

 

 

2,567

 

Less: imputed interest

 

 

(481

)

Total operating lease liability

 

 

2,086

 

Less: operating lease liabilities, current

 

 

(795

)

Operating lease liabilities, net of current portion

 

$

1,291

 

 

 

 

 

Schedule of maturities of noncancellable finance lease liabilities

Maturities of the lease liability under the noncancellable finance leases as of June 30, 2025 are as follows (in thousands):

 

 

Finance Leases

 

Remainder of 2025

 

$

2,056

 

2026

 

 

1,753

 

2027

 

 

384

 

Total undiscounted lease payments

 

 

4,193

 

Less: imputed interest

 

 

(460

)

Total finance lease liability

 

 

3,733

 

Less: current installments of obligations under finance leases

 

 

(3,061

)

Obligations under finance leases, excluding current installments

 

$

672