Leases

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

Leases

Leases

We have various operating lease agreements for office space, warehouses, manufacturing, production locations, and other equipment. Our real estate leases had original lease terms of four to eleven years and remaining lease terms of one to seven years. We exclude options that are not reasonably certain to be exercised from our lease terms, ranging from one to five years. Our lease payments consist primarily of fixed rental payments for the right to use the underlying leased assets over the lease terms, with all other lease payments consisting of variable lease costs. For certain leases, we receive incentives from our landlords, such as rent abatements, which effectively reduce the total lease payments owed for these leases.

We did not have any financing lease arrangements as of December 31, 2024 and 2023.

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 December 31, 2024 and 2023:

	2024		2023
Weighted average discount rate - operating leases	6.4	%	4.5	%
Weighted average remaining lease term in years - operating leases	6.1		7.1

The components of lease expense for the years ended December 31, 2024, 2023, and 2022 were as follows:

	Year Ended December 31,
(In thousands)	2024		2023		2022
Operating lease costs	$	1,997	$	1,630	$	1,560
Short-term lease costs	59		260		280
Total operating lease costs	2,056		1,890		1,840
Variable lease costs	1,103		797		677
Total lease expense	$	3,159	$	2,687	$	2,517

Maturities of our lease liabilities as of December 31, 2024 are as follows:

(In thousands)	Operating Leases
2025	$	2,351
2026	3,029
2027	2,583
2028	2,642
2029	2,724
Thereafter	3,946
Total lease payments	17,275
Less: interest	(3,041)
Total present value of lease liabilities	$	14,234

Leases

Leases

We have various operating lease agreements for office space, warehouses, manufacturing, production locations, and other equipment. Our real estate leases had original lease terms of four to eleven years and remaining lease terms of one to seven years. We exclude options that are not reasonably certain to be exercised from our lease terms, ranging from one to five years. Our lease payments consist primarily of fixed rental payments for the right to use the underlying leased assets over the lease terms, with all other lease payments consisting of variable lease costs. For certain leases, we receive incentives from our landlords, such as rent abatements, which effectively reduce the total lease payments owed for these leases.

We did not have any financing lease arrangements as of December 31, 2024 and 2023.

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 December 31, 2024 and 2023:

	2024		2023
Weighted average discount rate - operating leases	6.4	%	4.5	%
Weighted average remaining lease term in years - operating leases	6.1		7.1

The components of lease expense for the years ended December 31, 2024, 2023, and 2022 were as follows:

	Year Ended December 31,
(In thousands)	2024		2023		2022
Operating lease costs	$	1,997	$	1,630	$	1,560
Short-term lease costs	59		260		280
Total operating lease costs	2,056		1,890		1,840
Variable lease costs	1,103		797		677
Total lease expense	$	3,159	$	2,687	$	2,517

Maturities of our lease liabilities as of December 31, 2024 are as follows:

(In thousands)	Operating Leases
2025	$	2,351
2026	3,029
2027	2,583
2028	2,642
2029	2,724
Thereafter	3,946
Total lease payments	17,275
Less: interest	(3,041)
Total present value of lease liabilities	$	14,234