v3.25.2
LEASES
6 Months Ended
Jun. 30, 2025
Leases [Abstract]  
LEASES LEASES
Operating Leases
The Company has operating leases for office and warehouse space and certain equipment. In certain of the Company’s lease agreements, the rental payments are adjusted periodically based on defined terms within the lease. The Company did not have any finance leases for the six months ended June 30, 2025 and 2024.
Our leases relating to office and warehouse space have lease terms of 65 months to 102 months. Our leases relating to equipment have lease terms of 36 months, with certain of them having automatic renewal clauses.
The Company’s warehouse agreements also contain non-lease components, in the form of payments towards variable logistics services and labor charges, which the Company is obligated to pay based on the services consumed by it. Such amounts are not included in the measurement of the lease liability but are recognized as expenses when they are incurred.
The operating lease expense was $1.2 million and $1.2 million for the three months ended June 30, 2025 and 2024, respectively, and $2.5 million and $2.5 million for the six months ended June 30, 2025 and 2024, respectively.

Supplemental cash flow information related to the Company’s operating leases was as follows (in thousands):
Six months ended June 30,
20252024
Cash paid for amounts included in the measurements of lease liabilities
Operating cash flow used in operating leases$3,215 $3,141 
As of June 30, 2025, the weighted average remaining lease term was 2.75 years and the weighted average discount rate was 2.20%.
The following table presents the maturity of the Company’s operating lease liabilities as of June 30, 2025 (in thousands):
2025 (excluding the six months ended June 30, 2025)
$3,246 
20264,783 
20272,553 
20282,618 
2029240 
Total lease payments$13,440 
Less: Imputed interest(372)
Total $13,068