Lease Obligations (Tables)

12 Months Ended

Dec. 31, 2024

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


	Years Ended December 31,
	2024		2023		2022
Operating lease expense	$	2,301	$	2,018	$	1,578
Finance lease expense:
Amortization of right-of-use assets	1,766		1,212		816
Interest on lease liabilities	316		201		138
Total finance lease expense	$	2,082	$	1,413	$	954

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


	Years Ended December 31,
	2024		2023		2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for finance leases	$	316	$	201	$	898
Operating cash flows for operating leases	$	2,156	$	1,920	$	1,555
Financing cash flows for finance leases	$	1,704	$	1,165	$	—

Operating lease assets obtained in exchange for operating lease liabilities:	$	438	$	4,695	$	755
Finance lease assets obtained in exchange for finance lease liabilities:	$	1,391	$	2,971	$	1,302
Non-cash increase to operating lease assets due to remeasurement of operating lease liabilities:	$	254	$	924	$	—

Other supplemental information related to leases was as follows:


	As of December 31,
	2024		2023
Weighted average remaining lease term:
Operating leases	9.0 years		9.7 years
Finance leases	2.6 years		3.0 years
Weighted average discount rate:
Operating leases	10.91	%	10.88	%
Finance leases	8.66	%	7.46	%

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	2024		2023
Operating lease assets:
Operating lease assets, net	Right of use assets	$	8,061	$	8,682
Operating lease liabilities:
Current operating lease liabilities	Operating lease liabilities – current liabilities	$	937	$	1,058
Non-current operating lease liabilities	Operating lease liabilities – long-term liabilities	7,924		8,390
Total operating lease liabilities		$	8,861	$	9,448

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	2024		2023
Finance lease assets:
Finance lease assets, net	Right of use assets	$	3,947	$	4,322
Finance lease liabilities:
Current finance lease liabilities	Finance lease liabilities – current liabilities	$	1,835	$	1,590
Non-current finance lease liabilities	Finance lease liabilities – long-term liabilities	2,124		2,845
Total finance lease liabilities		$	3,959	$	4,435

Maturities of lease liabilities as of December 31, 2024 are as follows (in thousands):