LEASES |
8. LEASES
The right-of-use assets and corresponding liabilities related to the Company's operating leases were as follows:
| | | | | | | | | | | | | March 31, 2025 | | December 31, 2024 | Operating leases right-of-use assets, net | $ | 32,431 | | | $ | 34,453 | | | | | | Current maturities of operating lease liability | $ | 7,024 | | | $ | 7,398 | | Operating lease liability, net of current maturities | 27,809 | | | 29,633 | | Total lease liability | $ | 34,833 | | | $ | 37,031 | |
The weighted-average remaining lease terms and weighted-average discount rates for operating leases were as follows:
| | | | | | | | | | | | | March 31, | | 2025 | | 2024 | Weighted average remaining lease term | 5.4 years | | 6.0 years | Weighted average discount rate | 6.2 | % | | 6.2 | % |
The components of lease costs were as follows:
| | | | | | | | | | | | | | | | | Three Months Ended March 31, | | | | 2025 | | 2024 | | | | | Operating lease costs | $ | 2,292 | | | $ | 2,563 | | | | | | Variable lease costs | 153 | | | 664 | | | | | | Short-term lease costs | 88 | | | 85 | | | | | | Sublease income | (380) | | | (272) | | | | | | Total operating lease costs | $ | 2,153 | | | $ | 3,040 | | | | | |
Future maturities of the Company's operating lease liabilities and receipts from subleases as of March 31, 2025 were as follows:
| | | | | | | | | | | | | Lease Payments | | Sublease Receipts | 2025 (remainder of the year) | $ | 6,780 | | | $ | (895) | | 2026 | 8,091 | | | (1,222) | | 2027 | 6,455 | | | (1,257) | | 2028 | 6,022 | | | (1,294) | | 2029 | 5,425 | | | (1,332) | | Thereafter | 8,170 | | | (1,470) | | Total lease payments (receipts) | 40,943 | | | (7,470) | | Less: imputed interest | (6,110) | | | | Operating lease liability as of March 31, 2025 | $ | 34,833 | | | |
Supplemental and other information related to leases was as follows:
| | | | | | | | | | | | | Three Months Ended March 31, | | 2025 | | 2024 | Cash paid for amounts included in the measurement of lease liabilities: | | | | Operating cash flow from operating leases | $ | 2,358 | | | $ | 2,580 | |
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