Leases

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

Leases

Leases

We have operating and finance lease obligations resulting from the lease of land and buildings that comprise our corporate headquarters and various manufacturing facilities; leases related to additional manufacturing, office, and warehouse space; leases on company vehicles; and leases on a variety of office and other equipment.

Balance sheet information related to leases consists of the following (in thousands, except lease term and discount rate):

	December 31,
Operating leases:	2024		2023
Operating lease right-of-use assets, net	$	39,726	$	43,822
Current maturities of operating leases	$	4,489	$	3,395
Non-current maturities of operating leases	39,988		43,977
Total operating lease liabilities	$	44,477	$	47,372
Finance leases:
Property and equipment, at cost	$	6,746	$	6,862
Accumulated depreciation	(3,557)		(3,136)
Property and equipment, net	$	3,189	$	3,726
Current portion of finance lease obligations	$	601	$	582
Non-current finance lease obligations	2,833		3,405
Total finance lease liabilities	$	3,434	$	3,987
Weighted average remaining lease term (in years):
Operating leases	9.6		10.4
Finance leases	5.7		6.8
Weighted average discount rate:
Operating leases	6.3%		6.3%
Finance leases	2.3%		2.2%

The components of lease expense included in General, administrative, and marketing expenses in our Consolidated Statements of Operations and Comprehensive Loss consists of the following (in thousands):

	Year Ended December 31,
	2024		2023		2022
Depreciation of property and equipment	$	627	$	542	$	518
Interest expense on finance leases	89		84		89
Total finance lease expense	716		626		607
Operating lease expense	7,822		7,354		7,432
Sublease income	(465)		(278)		(306)
Total lease expense	$	8,073	$	7,702	$	7,733

Supplemental cash flow information related to leases consists of the following (in thousands):

	Year Ended December 31,
Cash paid for amounts included in the measurement of lease liabilities:	2024		2023		2022
Operating cash flows for operating leases	$	6,627	$	7,263	$	6,927
Financing cash flows for finance leases	623		539		507
Operating cash flows for finance leases	89		84		90

Future maturities of lease liabilities are as follows (in thousands):

	Finance Leases		Operating Leases
2025	$	677	$	7,111
2026	653		6,976
2027	642		6,316
2028	608		5,904
2029	541		5,812
Thereafter	531		27,872
Total lease payments	$	3,652	$	59,991
Less: Amount representing interest	(218)		(15,514)
Present value of lease liabilities	3,434		44,477
Less: Current maturities of lease liabilities	(601)		(4,489)
Lease liabilities, less current maturities	$	2,833	$	39,988

Leases

Leases

We have operating and finance lease obligations resulting from the lease of land and buildings that comprise our corporate headquarters and various manufacturing facilities; leases related to additional manufacturing, office, and warehouse space; leases on company vehicles; and leases on a variety of office and other equipment.

Balance sheet information related to leases consists of the following (in thousands, except lease term and discount rate):

	December 31,
Operating leases:	2024		2023
Operating lease right-of-use assets, net	$	39,726	$	43,822
Current maturities of operating leases	$	4,489	$	3,395
Non-current maturities of operating leases	39,988		43,977
Total operating lease liabilities	$	44,477	$	47,372
Finance leases:
Property and equipment, at cost	$	6,746	$	6,862
Accumulated depreciation	(3,557)		(3,136)
Property and equipment, net	$	3,189	$	3,726
Current portion of finance lease obligations	$	601	$	582
Non-current finance lease obligations	2,833		3,405
Total finance lease liabilities	$	3,434	$	3,987
Weighted average remaining lease term (in years):
Operating leases	9.6		10.4
Finance leases	5.7		6.8
Weighted average discount rate:
Operating leases	6.3%		6.3%
Finance leases	2.3%		2.2%

The components of lease expense included in General, administrative, and marketing expenses in our Consolidated Statements of Operations and Comprehensive Loss consists of the following (in thousands):

	Year Ended December 31,
	2024		2023		2022
Depreciation of property and equipment	$	627	$	542	$	518
Interest expense on finance leases	89		84		89
Total finance lease expense	716		626		607
Operating lease expense	7,822		7,354		7,432
Sublease income	(465)		(278)		(306)
Total lease expense	$	8,073	$	7,702	$	7,733

Supplemental cash flow information related to leases consists of the following (in thousands):

	Year Ended December 31,
Cash paid for amounts included in the measurement of lease liabilities:	2024		2023		2022
Operating cash flows for operating leases	$	6,627	$	7,263	$	6,927
Financing cash flows for finance leases	623		539		507
Operating cash flows for finance leases	89		84		90

Future maturities of lease liabilities are as follows (in thousands):

	Finance Leases		Operating Leases
2025	$	677	$	7,111
2026	653		6,976
2027	642		6,316
2028	608		5,904
2029	541		5,812
Thereafter	531		27,872
Total lease payments	$	3,652	$	59,991
Less: Amount representing interest	(218)		(15,514)
Present value of lease liabilities	3,434		44,477
Less: Current maturities of lease liabilities	(601)		(4,489)
Lease liabilities, less current maturities	$	2,833	$	39,988