v3.25.1
Leases (Tables)
12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Schedule of Lease-related Assets and Liabilities

The following table presents the Company’s lease-related assets and liabilities as presented on its Consolidated Balance Sheets:

 

 

 

 

December 31,

 

 

 

Classification on the Consolidated Balance Sheet

 

2024

 

 

2023

 

Assets:

 

 

 

 

 

 

 

 

Operating lease assets

 

Operating lease right-of-use assets

 

$

915

 

 

$

1,137

 

Finance lease assets

 

Finance lease right-of-use assets

 

 

157

 

 

 

206

 

Total lease assets

 

 

 

$

1,072

 

 

$

1,343

 

Liabilities:

 

 

 

 

 

 

 

 

Current

 

 

 

 

 

 

 

 

Operating lease liabilities

 

Operating lease liabilities, current portion

 

$

254

 

 

$

184

 

Finance lease liabilities

 

Finance lease liabilities, current portion

 

 

31

 

 

 

122

 

Non-current

 

 

 

 

 

 

 

 

Operating lease liabilities

 

Operating lease liabilities, non-current portion

 

 

747

 

 

 

1,001

 

Finance lease liabilities

 

Finance lease liabilities, non-current portion

 

 

—

 

 

 

31

 

Total lease liabilities

 

 

 

$

1,032

 

 

$

1,338

 

 

Schedule of Information Related to Lease Expense

The following table presents information related to the Company’s lease expense for the periods shown:

 

 

 

Year Ended
December 31,

 

 

 

2024

 

 

2023

 

Operating lease expense

 

$

341

 

 

$

287

 

Finance lease expense

 

 

48

 

 

 

36

 

Total lease expense

 

$

389

 

 

$

323

 

Schedule of Future Lease Payments of Leases

Future minimum lease payments from December 31, 2024 until the expiration of the leases are as follows:

 

 

 

Operating Leases

 

 

Finance Leases

 

2025

 

$

349

 

 

$

32

 

2026

 

 

368

 

 

 

—

 

2027

 

 

377

 

 

 

—

 

2028

 

 

95

 

 

 

—

 

Total minimum lease payments

 

 

1,189

 

 

 

32

 

Less: Amount of lease payments representing interest

 

 

(188

)

 

 

(1

)

Present value of future minimum lease payments

 

$

1,001

 

 

$

31

 

Schedule of Information Related to the Lease Terms and Discount Rates of Leases

The following table presents certain information related to the lease terms and discount rates for the Company’s leases:

 

 

December 31,

 

 

2024

 

2023

Weighted average remaining lease term:

 

 

 

 

Operating leases

 

3.3 years

 

4.3 years

Finance leases

 

0.3 years

 

1.3 years

 

 

 

 

 

Weighted average discount rate:

 

 

 

 

Operating leases

 

11.00%

 

11.00%

Finance leases

 

4.37%

 

4.37%

Schedule of Supplemental Cash Flow Information Related to Leases

The following table presents supplemental cash flow information related to the Company’s leases for the periods shown:

 

 

Year Ended
December 31,

 

 

 

2024

 

 

2023

 

Cash paid for amounts included in the measurement of lease liabilities:

 

 

 

 

 

 

Operating cash outflows relating to operating leases

 

$

303

 

 

$

231

 

Finance lease payments

 

$

126

 

 

$

95

 

Supplemental non-cash information:

 

 

 

 

 

 

Right-of-use assets obtained in exchange for new operating lease liabilities

 

$

—

 

 

$

1,289

 

Right-of-use assets obtained in exchange for new finance lease liabilities

 

$

—

 

 

$

242