Leases

3 Months Ended

Mar. 31, 2025

17.

Leases

Operating lease cost was $543 and $542 for the three months ended March 31, 2025 and 2024, respectively, and is included in other operating expenses on the Condensed Consolidated Statement of Operations. Short-term and variable lease cost was immaterial for the three months ended March 31, 2025 and 2024.

The following table provides supplemental balance sheet information about the Company’s leases as of March 31, 2025 and December 31, 2024:


	March 31, 2025			December 31, 2024
Operating leases:
Right-of-use assets	$	2,019		$	2,498
Lease liability	$	2,110		$	2,612
Weighted-average remaining lease term:
Operating leases		0.96 years			1.18 years
Weighted-average discount rate:
Operating leases		2.84	%		2.75	%

Supplemental disclosure of cash flow information related to leases was as follows for the for the three months ended March 31, 2025 and 2024:


	Three Months Ended March 31,
	2025		2024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	562	$	545

The estimated future minimum payments of operating leases as of March 31, 2025 are as follows:


	Operating Leases
2025 remaining	$	1,702
2026		428
2027		7
2028		—
2029		—
Thereafter		—

Total lease payments		2,137
Less: imputed interest		(27	)

Present value of lease liabilities	$	2,110