| LEASES The Company's lease agreements include offices and production facilities, as well as leases for vehicles and other equipment, all classified as operating leases. Certain leases include renewal options that are under the Company`s sole discretion. The renewal options were included in the right-of-use assets and liabilities calculations if it was reasonably certain that the Company will exercise the option.
| | | | | | | | | | | | | | | | | | | December 31, 2024 | | December 31, 2023 | | December 31, 2022 | | Operating lease cost | $ | 4,046 | | | $ | 3,598 | | | $ | 4,163 | | | Short-term lease cost | 146 | | | 165 | | | 165 | | | Variable lease cost | 193 | | | 170 | | | 120 | | | Sublease income | $ | (572) | | | $ | — | | | $ | — | | | Total lease cost | $ | 3,813 | | | $ | 3,933 | | | $ | 4,448 | | | | | | | | | December 31, 2024 | | December 31, 2023 | | December 31, 2022 | | Operating cash flows for operating leases, net: | $ | 4,254 | | | $ | 2,976 | | | $ | 5,946 | | | Weighted average remaining operating lease term (years) | 6.26 | | 7.39 | | 8.25 | | Weighted average discount rate operating lease | 6.55 | % | | 6.04 | % | | 5.65 | % |
The following table outlines maturities of the Company’s lease liabilities as of December 31, 2024: | | | | | | | Operating Leases | | | | 2025 | $ | 4,458 | | | 2026 | 4,142 | | | 2027 | 2,323 | | | 2028 | 2,310 | | | 2029 | 2,336 | | 2030 and thereafter | 6,737 | | | Total undiscounted lease payments | $ | 22,306 | | | Less: | | | Imputed interest | 4,420 | | | Present value of lease liabilities | $ | 17,886 | |
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