Leases (Tables)
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12 Months Ended |
Dec. 31, 2024 |
| Leases [Abstract] |
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| Schedule of Supplemental Balance Sheet Information |
Supplemental balance sheet information | | | | | | | | | | | | | | | | | As of | | | December 31, 2024 | | December 31, 2023 | | Operating Lease | | | | | | Operating lease ROU assets | | $ | 68,784 | | | $ | 64,856 | | | | | | | Operating lease liabilities - Current | | $ | 16,491 | | | $ | 12,780 | | Operating lease liabilities - Non-current | | 59,851 | | | 58,175 | | | Total operating lease liabilities | | $ | 76,342 | | | $ | 70,955 | | | | | | | | Finance Lease | | | | | | Property and equipment, gross | | $ | 3,268 | | | $ | 2,109 | | | Accumulated depreciation | | (1,556) | | | (1,332) | | | Property and equipment, net | | $ | 1,712 | | | $ | 777 | | | | | | | Finance lease liabilities - Current | | $ | 435 | | | $ | 191 | | Finance lease liabilities - Non-current | | 1,349 | | | 613 | | | Total finance lease liabilities | | $ | 1,784 | | | $ | 804 | |
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| Schedule of Components of Lease Cost |
The components of lease cost, which are included in the Company’s consolidated statements of income, are as follows: | | | | | | | | | | | | | | | | | | | | | | | Year ended December 31, | | | 2024 | | 2023 | | 2022 | | Finance lease: | | | | | | | | Depreciation on underlying ROU assets | | $ | 382 | | | $ | 181 | | | $ | 151 | | | Interest on lease liabilities | | 196 | | | 90 | | | 59 | | | | 578 | | | 271 | | | 210 | | Operating lease(1) | | 21,764 | | | 20,188 | | | 21,783 | | | Variable lease costs | | 4,490 | | | 4,374 | | | 5,033 | | | Sublease income | | (122) | | | — | | | — | | | Total lease cost | | $ | 26,710 | | | $ | 24,833 | | | $ | 27,026 | |
(1) Includes short-term leases, which are immaterial.
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| Schedule of Supplemental Cash Flow Information Related to Leases |
Supplemental cash flow and other information related to leases are as follows: | | | | | | | | | | | | | | | | | | | | | | | Year ended December 31, | | | 2024 | | 2023 | | 2022 | | Cash payments for amounts included in the measurement of lease liabilities : | | | | | | | | Operating cash outflows for operating leases | | $ | 20,489 | | | $ | 20,181 | | | $ | 23,227 | | | Operating cash outflows for finance leases | | $ | 196 | | | $ | 90 | | | $ | 59 | | | Financing cash outflows for finance leases | | $ | 326 | | | $ | 169 | | | $ | 142 | | | ROU assets obtained in exchange for new operating lease liabilities | | $ | 20,518 | | | $ | 24,880 | | | $ | 734 | | | ROU assets obtained in exchange for new finance lease liabilities | | $ | 1,325 | | | $ | 461 | | | $ | 312 | | | Weighted average remaining lease term (in years) | | | | | | | | Finance lease | | 3.3 years | | 3.1 years | | 2.8 years | | Operating lease | | 4.9 years | | 5.5 years | | 5.9 years | | Weighted average discount rate | | | | | | | | Finance lease | | 15.1% | | 14.6% | | 14.3% | | Operating lease | | 8.0% | | 7.7% | | 6.8% |
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| Schedule of Maturities of Operating Lease Liabilities |
Maturities of lease liabilities as of December 31, 2024 were as follows: | | | | | | | | | | | | | | | | | Operating Leases | | Finance Leases | | 2025 | | $ | 22,028 | | | $ | 671 | | | 2026 | | 20,434 | | | 631 | | | 2027 | | 17,918 | | | 527 | | | 2028 | | 15,191 | | | 353 | | | 2029 | | 6,370 | | | 175 | | | 2030 and thereafter | | 11,931 | | | — | | | Total lease payments | | 93,872 | | | 2,357 | | | Less: Imputed interest | | 17,530 | | | 573 | | | Present value of lease liabilities | | $ | 76,342 | | | $ | 1,784 | |
Maturities of lease liabilities as of December 31, 2023 were as follows: | | | | | | | | | | | | | | | | | Operating Leases | | Finance Leases | | 2024 | | $ | 17,806 | | | $ | 297 | | | 2025 | | 16,878 | | | 256 | | | 2026 | | 16,220 | | | 222 | | | 2027 | | 13,712 | | | 191 | | | 2028 | | 10,132 | | | 98 | | | 2029 and thereafter | | 14,018 | | | — | | | Total lease payments | | 88,766 | | | 1,064 | | | Less: Imputed interest | | 17,811 | | | 260 | | | Present value of lease liabilities | | $ | 70,955 | | | $ | 804 | |
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| Schedule of Maturities of Finance Lease Liabilities |
Maturities of lease liabilities as of December 31, 2024 were as follows: | | | | | | | | | | | | | | | | | Operating Leases | | Finance Leases | | 2025 | | $ | 22,028 | | | $ | 671 | | | 2026 | | 20,434 | | | 631 | | | 2027 | | 17,918 | | | 527 | | | 2028 | | 15,191 | | | 353 | | | 2029 | | 6,370 | | | 175 | | | 2030 and thereafter | | 11,931 | | | — | | | Total lease payments | | 93,872 | | | 2,357 | | | Less: Imputed interest | | 17,530 | | | 573 | | | Present value of lease liabilities | | $ | 76,342 | | | $ | 1,784 | |
Maturities of lease liabilities as of December 31, 2023 were as follows: | | | | | | | | | | | | | | | | | Operating Leases | | Finance Leases | | 2024 | | $ | 17,806 | | | $ | 297 | | | 2025 | | 16,878 | | | 256 | | | 2026 | | 16,220 | | | 222 | | | 2027 | | 13,712 | | | 191 | | | 2028 | | 10,132 | | | 98 | | | 2029 and thereafter | | 14,018 | | | — | | | Total lease payments | | 88,766 | | | 1,064 | | | Less: Imputed interest | | 17,811 | | | 260 | | | Present value of lease liabilities | | $ | 70,955 | | | $ | 804 | |
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