v3.24.3
Leases (Tables)
 9 Months Ended
Sep. 30, 2024
Leases [Abstract]  
Summary of Weighted-Average Remaining Lease Term and Discount Rate and Lease, Cost
Weighted-average remaining lease term (in years) and discount rate related to operating and finance leases were as follows:
Operating Leases
Finance Lease
Weighted-average remaining lease term2.768.75
Weighted-average discount rate7.3 %8.6 %
A summary of lease costs for the three and nine months ended September 30, 2024 and 2023 was as follows:
Three Months Ended
September 30,		Nine Months Ended
September 30,
2024202320242023
Operating Lease:
Lease costCost of goods sold and selling, general and administrative$343 $438 $1,219 $1,314 
Finance Lease:
Amortization of right of use assetCost of goods sold$712 $730 $2,100 $730 
Interest on lease liabilitiesInterest expense$564 $624 $1,691 $624 
Variable lease cost (b)Inventory/Cost of goods sold (b)$3,328 $2,894 $9,997 $2,894 
(b)Variable lease cost primarily consists of the procurement and manufacturing costs capitalized to inventory. For the three and nine months ended September 30, 2024, $3,328 and $9,997, respectively, of variable lease cost were capitalized to inventory and will be captured as part of cost of goods sold as the inventory turns.
Summary of Maturities of Operating Lease Liabilities
Maturities of lease liabilities under noncancelable operating leases and finance lease as of September 30, 2024 were as follows:
As of September 30, 2024
Operating Leases
Finance Lease
2024 (a)$379 $1,055 
20251,538 4,221 
20261,575 4,221 
2027778 4,221 
2028 and beyond— 23,217 
Total lease payments$4,270 $36,935 
Less: Imputed interest(424)(11,040)
Present value of lease liabilities$3,846 $25,895 
(a)Excluding the nine months ended September 30, 2024.
Summary of Maturities of Finance Lease Liabilities
Maturities of lease liabilities under noncancelable operating leases and finance lease as of September 30, 2024 were as follows:
As of September 30, 2024
Operating Leases
Finance Lease
2024 (a)$379 $1,055 
20251,538 4,221 
20261,575 4,221 
2027778 4,221 
2028 and beyond— 23,217 
Total lease payments$4,270 $36,935 
Less: Imputed interest(424)(11,040)
Present value of lease liabilities$3,846 $25,895 
(a)Excluding the nine months ended September 30, 2024.
Summary of Supplemental Balance Sheet Information
Supplemental balance sheet information related to leases as of September 30, 2024 and December 31, 2023 is as follows:
As of September 30, 2024As of December 31, 2023
Assets:
Operating leasesOperating lease right of use assets$3,671 $3,616 
Finance lease, netProperty, plant and equipment, net24,918 27,728 
Total lease assets$28,589 $31,344 
Liabilities:
Current:
Operating lease liabilitiesCurrent operating lease liabilities$1,290 $1,312 
Finance lease liabilitiesCurrent finance lease liabilities2,075 1,998 
Long-term:   
Operating lease liabilitiesLong term operating lease liabilities2,556 2,591 
Finance lease liabilitiesLong term finance lease liabilities23,820 26,080 
Total lease liabilities$29,741 $31,981 
Summary of Supplemental Cash Flow Information
Supplemental cash flow information and non-cash activity relating to operating and finance leases are as follows:
Three Months Ended
September 30,		Nine Months Ended September 30,
Operating cash flow information:2024202320242023
Cash paid for amounts included in the measurement of operating lease liabilities$350 $453 $1,266 $1,349 
Cash paid for amounts included in the measurement of finance lease liabilities (i.e. interest)$564 $624 $1,691 $624 
Finance cash flow information:    
Cash paid for amounts included in the measurement of finance lease liabilities (i.e. principal payment)$492 $548 $1,444 $548