Leases (Tables)

6 Months Ended

Jun. 30, 2024

Leases [Abstract]

Schedule of Operating and Finance Lease Terms and Discount Rates

The table below presents certain information related to the weighted average discount rate and weighted average remaining lease term for the Company’s leases as of June 30, 2024 and December 31, 2023:

	June 30,		December 31,
(In thousands)	2024		2023
Weighted average discount rate - operating leases	4.4	%	4.4	%
Weighted average discount rate - finance leases	8.4	%	8.3	%
Weighted average remaining lease term in years - operating leases	6.2		6.6
Weighted average remaining lease term in years - finance leases	3.8		4.1

Schedule of Lease Expense

The components of lease expense for the three and six months ended June 30, 2024 and 2023 were as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
(In thousands)	2024		2023		2024		2023
Operating lease costs	$	829	$	825	$	1,621	$	1,649
Financing lease costs	57		-		116		-
Short-term lease costs	416		400		811		756
Total operating lease costs	1,302		1,225		2,548		2,405
Variable lease costs	371		345		718		604
Total lease costs	$	1,673	$	1,570	3,266		3,009

Schedule of Maturities of Operating Lease Liabilities

Maturities of our lease liabilities as of June 30, 2024 are as follows:

(In thousands)	Operating Leases		Financing Leases
2024 (6 months remaining)	$	1,599	$	206
2025	2,786		413
2026	2,240		389
2027	1,935		387
2028	1,955		134
Thereafter	4,896		-
Total lease payments	15,411		1,529
Less: interest	(1,832)		(216)
Total present value of lease liabilities	$	13,579	$	1,313

Schedule of Maturities of Finance Lease Liabilities

Maturities of our lease liabilities as of June 30, 2024 are as follows:

(In thousands)	Operating Leases		Financing Leases
2024 (6 months remaining)	$	1,599	$	206
2025	2,786		413
2026	2,240		389
2027	1,935		387
2028	1,955		134
Thereafter	4,896		-
Total lease payments	15,411		1,529
Less: interest	(1,832)		(216)
Total present value of lease liabilities	$	13,579	$	1,313