Lease Obligations (Tables)

12 Months Ended

Dec. 31, 2023

Lease expense under operating and finance leases was as follows (in thousands):


	Years Ended December 31,
	2023		2022		2021
Operating lease expense	$	2,018	$	1,578	$	1,660
Finance lease expense:
Amortization of right-of-use assets	$	1,212	$	816	113
Interest on lease liabilities	$	201	$	138	22
Total finance lease expense	$	1,413	$	954	$	135

Supplemental cash flow information related to leases was as follows (in thousands):


	Years Ended December 31,
	2023		2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for finance leases	$	201	$	898	$	125
Operating cash flows for operating leases	$	1,920	$	1,555	$	1,490
Financing cash flows for finance leases	$	1,165	$	—	$	—

Operating lease assets obtained in exchange for operating lease liabilities:	$	4,695	$	755	$	1,536
Finance lease assets obtained in exchange for finance lease liabilities:	$	2,971	$	1,302	$	2,190
Non-cash increase to operating lease assets due to remeasurement of operating lease liabilities:	$	924	$	—	$	—

Other supplemental information related to leases was as follows:


	As of December 31,
	2023		2022
Weighted average remaining lease term:
Operating leases	9.7 years		10.6 years
Finance leases	3.0 years		3.0 years
Weighted average discount rate:
Operating leases	10.88	%	12.54	%
Finance leases	7.46	%	5.00	%

The following table summarizes the presentation in the Consolidated Balance Sheets of the Company’s operating leases (in thousands):


		As of December 31,
	Balance Sheet Location	2023		2022
Operating lease assets:
Operating lease assets, net	Other Assets	$	8,682	$	4,242
Operating lease liabilities:
Current operating lease liabilities	Operating lease liabilities – current liabilities	$	1,058	$	1,516
Non-current operating lease liabilities	Operating lease liabilities – long-term liabilities	8,390		4,027
Total operating lease liabilities		$	9,448	$	5,543

The following table summarizes the presentation in the Consolidated Balance Sheets of the Company’s finance leases (in thousands):


		As of December 31,
	Balance Sheet Location	2023		2022
Finance lease assets:
Finance lease assets, net	Other Assets	$	4,322	$	2,564
Finance lease liabilities:
Current finance lease liabilities	Finance lease liabilities – current liabilities	$	1,590	$	853
Non-current finance lease liabilities	Finance lease liabilities – long-term liabilities	2,845		1,777
Total finance lease liabilities		$	4,435	$	2,630

Maturities of lease liabilities as of December 31, 2023 are as follows (in thousands):