v3.25.2
Leases (Tables)
6 Months Ended 12 Months Ended
Jun. 30, 2025
Dec. 31, 2024
Leases [Abstract]    
Summary of Lease Cost
The components of lease cost were as follows (in thousands):
 
Table 4.1. Lease Cost
             
 
  
Three months ended
June 30,
 
  
Six months ended
June 30,
 
 
  
 2025 
 
  
 2024 
 
  
 2025 
 
  
 2024 
 
Operating lease cost
  
$
834
 
  
$
1,108
 
  
$
1,672
 
  
$
2,226
 
Short-term lease cost
  
$
165
 
  
$
248
 
  
$
332
 
  
$
483
 
The components of lease cost were as follows (in thousands):
Table 5.1. Lease Cost
 
 
  
Year ended December 31,
 
 
  
2024
 
  
2023
 
  
2022
 
Operating lease cost
  
$
4,406
 
  
$
1,813
 
  
$
1,824
 
Short-term lease cost
  
$
895
 
  
$
180
 
  
$
916
 
  
 
 
 
  
 
 
 
  
 
 
 
Summary of Lease Right-of-use Assets and Liabilities
Supplemental balance sheet information related to leases is as follows (in thousands):
 
Table 4.2. Details of Lease Right-of-use Assets and Liabilities
 
 
  
June 30,
2025
 
  
December 31,
2024
 
Operating lease right-of-use assets
  
$
14,933
 
  
$
15,493
 
  
 
 
 
  
 
 
 
Operating lease liabilities - current
  
 
2,704
 
  
 
2,637
 
Operating lease liabilities - non-current
  
 
12,725
 
  
 
13,074
 
  
 
 
 
  
 
 
 
Total operating lease liabilities
  
$
15,429
 
  
$
15,711
 
  
 
 
 
  
 
 
 
Supplemental balance sheet information related to leases is as follows (in thousands):
Table 5.2. Details of Lease Right-of-use Assets and Liabilities
 
 
  
December 31, 2024
 
  
December 31, 2023
 
Operating lease right-of-use assets
  
$
15,493
 
  
$
1,624
 
  
 
 
 
  
 
 
 
Operating lease liabilities - current
  
 
2,637
 
  
 
1,647
 
Operating lease liabilities - non-current
  
 
13,074
 
  
 
132
 
  
 
 
 
  
 
 
 
Total operating lease liabilities
  
$
15,711
 
  
$
1,779
 
Summary of Weighted Average Lease Terms and Discount Rates
Weighted-average lease terms and discount rates are as follows:
 
Table 4.3. Weighted-average Lease Terms and Discount Rates
 
 
  
June 30,
2025
 
 
December 31,
2024
 
Weighted-average remaining lease term
  
 
7.8
 years
 
 
 
8.3
 years
 
Weighted-average discount rates
  
 
13.3
% 
 
 
12.8
% 
Weighted-average lease terms and discount rates are as follows:
Table 5.3. Weighted-average Lease Terms and Discount Rates
 
 
  
December 31, 2024
 
 
December 31, 2023
 
Weighted-average remaining lease term
  
 
8.3
 years
 
 
 
1.1
 years
 
Weighted-average discount rates
  
 
12.8
% 
 
 
8.5
% 
  
 
 
 
 
 
 
 
Summary of Maturities of Lease Liabilities
Maturities of lease liabilities under operating leases are as follows (in thousands):
 
Table 4.4. Maturities of Lease Liabilities
 
 
  
Years ending
December 31,
 
2025 (remaining 6 months)
  
$
1,664
 
2026
  
 
3,146
 
2027
  
 
3,199
 
2028
  
 
2,791
 
2029
  
 
3,058
 
Thereafter
  
 
11,944
 
  
 
 
 
Total lease payments
  
 
25,802
 
Less: imputed interest
  
 
10,373
 
  
 
 
 
Total lease liabilities
  
$
15,429
 
  
 
 
 
Maturities of lease liabilities under operating leases are as follows (in thousands):
Table 5.4. Maturities of Lease Liabilities
 
Years ending December 31,
  
 
 
2025
  
$
3,065
 
2026
  
 
3,091
 
2027
  
 
3,144
 
2028
  
 
2,787
 
2029
  
 
3,058
 
Thereafter
  
 
11,944
 
  
 
 
 
Total lease payments
  
 
27,089
 
Less: imputed interest
  
 
11,378
 
  
 
 
 
Total lease liabilities
  
$
15,711