Leases

3 Months Ended

Mar. 31, 2025

Note 11 – Leases

The Company leases its office facilities under noncancelable multi-year operating lease agreements.

The following table shows the line item classification of the Company’s

right-of-use

assets and lease liabilities on the Company’s condensed consolidated balance sheets:


(in thousands)	Line item		March 31, 2025		December 31, 2024
Right-of-use assets – operating		Right of use assets, net	$	9,931	$	6,010

Total right-of-use assets			$	9,931	$	6,010

Current operating lease liabilities		Current operating lease liabilities	$	343	$	656
Noncurrent operating lease liabilities		Operating lease liabilities		10,234		5,860

Total lease liabilities			$	10,577	$	6,516

Operating lease cost of $0.6 million and $0.3 million for the three months ended March 31, 2025 and 2024, respectively, was classified as a component of selling, general, and administrative expense on the condensed consolidated statements of operations.