Leases

9 Months Ended

Sep. 30, 2024

Leases [Abstract]

Leases

13. Leases

The Company has entered into operating leases for its office facilities (including its corporate headquarters) and equipment. The Company has no finance leases. The following table provides additional information regarding the Company’s leases:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2024			2023			2024			2023
Lease cost:
Operating lease cost	$	328		$	324		$	976		$	963
Short-term lease cost		65			70			205			191
Total lease cost	$	393		$	394		$	1,181		$	1,154
Other information:
Cash paid for amounts included in the measurement of operating liabilities (operating leases)	$	328		$	301		$	991		$	955
Right-of-use assets obtained in exchange for new operating lease liabilities		n/a			n/a			n/a			n/a
Weighted-average remaining lease term (in years)—operating leases		1.1			0.7			1.1			0.7
Weighted-average discount rate—operating leases		5.7	%		6.0	%		5.7	%		6.0	%

None of the Company’s leases include variable payments, residual value guarantees or any restrictions or covenants relating to the Company’s ability to pay dividends or incur additional financing obligations.

The following table discloses future minimum lease payments at September 30, 2024 with respect to the Company’s operating lease liabilities:

Remainder of 2024	$	662
2025		769
2026		186
Total future minimum lease payments (undiscounted)	$	1,617

The following table reconciles the future minimum lease payments (disclosed above) at September 30, 2024 to the operating lease liabilities recognized in the Company’s Consolidated Balance Sheets:

Amounts recognized in the Company’s Consolidated Balance Sheets
Lease liability—short term	$	950
Lease liability—long term		270
Subtotal		1,220
Difference between undiscounted and discounted cash flows		397
Total future minimum lease payments (undiscounted)	$	1,617