v3.25.0.1
Leases (Tables)
12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Lease-Related Assets and Liabilities

The following table presents the lease-related assets and liabilities in the Consolidated Balance Sheets as of December 31, 2024 and 2023 (in thousands):

 

 

December 31,

 

 

December 31,

 

 

 

2024

 

 

2023

 

Right-of-use assets – net

 

$

12,008

 

 

$

9,826

 

 

 

 

 

 

 

 

Current operating lease liabilities included in Accrued expenses and other current liabilities

 

$

1,973

 

 

$

2,059

 

Long-term lease liabilities

 

 

18,731

 

 

 

16,215

 

Operating lease liabilities

 

$

20,704

 

 

$

18,274

 

Summarizes the weighted average minimum lease term and incremental borrowing rate

The following table summarizes the weighted average remaining minimum lease term and the weighted average incremental borrowing rate as of December 31, 2024 and 2023:

 

 

December 31,

 

December 31,

 

 

2024

 

2023

Weighted average remaining minimum lease term

 

8.2 years

 

8.1 years

Weighted average incremental borrowing rate

 

8.5%

 

7.4%

Future lease payments

The following table summarizes the present value of our operating lease liabilities as of December 31, 2024 (in thousands):

 

 

Operating Leases

 

2025

 

$

3,483

 

2026

 

 

3,627

 

2027

 

 

3,453

 

2028

 

 

3,240

 

2029

 

 

3,311

 

Thereafter

 

 

10,997

 

Total future lease payments

 

 

28,111

 

Less: imputed interest

 

 

(7,407

)

Present value of lease liabilities

 

$

20,704