Leases

3 Months Ended

Mar. 31, 2025

NOTE 5 LEASES

The Company leases its office facilities and office equipment which are accounted for as operating leases. Some leases contain clauses for renewal at the Company's option with renewal terms that generally extend the lease term from one to seven years.

The components of lease expense for the Company's operating leases in its unaudited consolidated statements of operations and comprehensive income (loss) were as follows:


	Three Months Ended March 31,
	2025		2024
Operating lease costs	$	14,001	$	13,682

Variable lease costs and short-term lease costs were not material.

The weighted-average remaining lease term and discount rate for operating lease liabilities included in the consolidated balance sheets are as follows:


	March 31, 2025			December 31, 2024
Weighted-average remaining lease term (in years)		4.1			4.1
Weighted-average discount rate		7.66	%		7.50	%

Supplemental cash flow information related to operating leases was as follows:


	Three Months Ended March 31,
	2025		2024
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	16,499	$	16,029
Noncash lease activity
Right-of-use lease assets obtained in exchange for new operating lease liabilities	$	10,451	$	4,828

The future minimum lease payments under noncancellable operating leases as of March 31, 2025 are as follows:


Year Ended December 31,	Amount
Remainder of 2025	$	44,338
2026		61,823
2027		48,877
2028		36,122
2029		21,293
Thereafter		19,839
Total lease payments	$	232,292
Less: imputed interest		(35,600	)
Total lease liabilities	$	196,692