v3.25.1
LEASES
3 Months Ended
Mar. 31, 2025
Leases [Abstract]  
LEASES LEASES
The Company leases its offices and data center housing space at various locations under non-cancelable operating lease agreements expiring at various dates through 2034. Under the terms of these agreements, the Company also bears the costs for certain insurance, property tax, and maintenance. The terms of certain lease agreements provide for increasing rental payments at fixed intervals.
Total operating lease related costs were as follows (in thousands):
Three Months Ended
March 31,
20252024
Operating lease cost$363 $324 
Short-term lease cost26 
Total lease cost$389 $328 
The weighted-average remaining term of the Company’s operating leases was 4.3 years and 3.9 years as of March 31, 2025 and December 31, 2024, respectively, and the weighted-average discount rate used to measure the present value of the operating lease liabilities was 9.5% as of March 31, 2025 and 10.0% as of December 31, 2024. Cash payments made related to operating lease liabilities were $0.3 million and $0.2 million for the three months ended March 31, 2025 and 2024, respectively.
Maturities of operating lease liabilities as of March 31, 2025 were as follows (in thousands):
Fiscal year ending December 31,
Amount
Remainder of 2025
$1,082 
20261,414 
20271,370 
2028975 
2029293 
Thereafter450 
Total undiscounted cash flows5,584 
Less: imputed interest(1,042)
Present value of lease liabilities$4,542 
Operating lease liabilities, current$1,047 
Operating lease liabilities, noncurrent3,495 
Total lease liabilities $4,542