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Leases
 3 Months Ended
Mar. 31, 2025
Leases [Abstract]  
Leases Leases
The Company has various operating lease agreements for office space, warehouses, manufacturing, production locations, and other equipment. Our real estate leases had original lease terms of two to eleven years and have remaining lease terms of two to six years. The Company excludes 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 March 31, 2025 and December 31, 2024.
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 March 31, 2025 and December 31, 2024:
March 31,December 31,
(In thousands)20252024
Weighted average discount rate - operating leases6.4 %6.4 %
Weighted average remaining lease term in years - operating leases5.96.1
The components of lease expense for the three months ended March 31, 2025 and 2024 were as follows:
Three Months Ended
March 31,
(In thousands)20252024
Operating lease costs$625 $385 
Short-term lease costs31 17 
Total operating lease costs656 402 
 
Variable lease costs298 239 
Total lease costs$954 $641 
Maturities of our lease liabilities as of March 31, 2025 are as follows:
(In thousands)Operating
Leases
2025 (9 months remaining)$1,900 
20263,029 
20272,583 
20282,642 
20292,724 
Thereafter3,946 
Total lease payments16,824 
Less: interest(2,824)
Total present value of lease liabilities$14,000 
Leases Leases
The Company has various operating lease agreements for office space, warehouses, manufacturing, production locations, and other equipment. Our real estate leases had original lease terms of two to eleven years and have remaining lease terms of two to six years. The Company excludes 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 March 31, 2025 and December 31, 2024.
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 March 31, 2025 and December 31, 2024:
March 31,December 31,
(In thousands)20252024
Weighted average discount rate - operating leases6.4 %6.4 %
Weighted average remaining lease term in years - operating leases5.96.1
The components of lease expense for the three months ended March 31, 2025 and 2024 were as follows:
Three Months Ended
March 31,
(In thousands)20252024
Operating lease costs$625 $385 
Short-term lease costs31 17 
Total operating lease costs656 402 
 
Variable lease costs298 239 
Total lease costs$954 $641 
Maturities of our lease liabilities as of March 31, 2025 are as follows:
(In thousands)Operating
Leases
2025 (9 months remaining)$1,900 
20263,029 
20272,583 
20282,642 
20292,724 
Thereafter3,946 
Total lease payments16,824 
Less: interest(2,824)
Total present value of lease liabilities$14,000