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Leases (Tables)
9 Months Ended
Sep. 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 September 30, 2024 and December 31, 2023:
September 30,December 31,
(In thousands)20242023
Weighted average discount rate - operating leases5.8 %4.4 %
Weighted average discount rate - finance leases8.4 %8.3 %
Weighted average remaining lease term in years - operating leases6.16.6
Weighted average remaining lease term in years - finance leases3.54.1
Schedule of Lease Expense
The components of lease expense for the three and nine months ended September 30, 2024 and 2023 were as follows:
Three Months Ended
September 30,
Nine Months Ended
September 30,
(In thousands)2024202320242023
Operating lease costs$1,018 $810 $2,639 $2,460 
Financing lease costs57 173 
Short-term lease costs452 510 1,263 1,266 
Total operating lease costs1,527 1,320 4,075 3,726 
   
Variable lease costs446 299 1,166 903 
Total lease costs$1,973 $1,619 5,241 4,629 
Schedule of Maturities of Operating Lease Liabilities
Maturities of our lease liabilities as of September 30, 2024 are as follows:
(In thousands)Operating
Leases
Financing
Leases
2024 (3 months remaining)$857 $103 
20253,630 413 
20263,249 389 
20272,970 387 
20283,021 134 
Thereafter7,794 
Total lease payments21,521 1,426 
Less: interest(3,544)(190)
Total present value of lease liabilities$17,977 $1,236 
Schedule of Maturities of Finance Lease Liabilities
Maturities of our lease liabilities as of September 30, 2024 are as follows:
(In thousands)Operating
Leases
Financing
Leases
2024 (3 months remaining)$857 $103 
20253,630 413 
20263,249 389 
20272,970 387 
20283,021 134 
Thereafter7,794 
Total lease payments21,521 1,426 
Less: interest(3,544)(190)
Total present value of lease liabilities$17,977 $1,236