v3.25.2
Lease Obligations (Tables)
 6 Months Ended
Jun. 30, 2025
Leases [Abstract]  
Aggregate Lease Expense Under Operating Leases
Lease expense under operating and finance leases was as follows (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Operating lease expense$526 $582 $1,070 $1,172 
Finance lease expense:
Amortization of right-of-use assets$554 $416 $1,092 $823 
Interest on lease liabilities90 73 184 150 
Total finance lease expense$644 $489 $1,276 $973 
Supplemental cash flow information related to leases was as follows (in thousands):
Six Months Ended June 30,
20252024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for finance leases$184 $150 
Operating cash flows for operating leases$903 $1,084 
Operating lease assets obtained in exchange for operating lease liabilities:$280 $156 
Finance lease assets obtained in exchange for finance lease liabilities:$844 $155 
Non-cash increase to operating lease assets due to remeasurement of operating lease liabilities:$786 $365 
Other Supplemental Information Related to Leases
Other supplemental information related to leases was as follows:
June 30, 2025December 31, 2024
Weighted average remaining lease term:
Operating leases9.9 years9.0 years
Finance leases2.6 years2.6 years
Weighted average discount rate:
Operating leases10.71 %10.91 %
Finance leases9.42 %8.66 %
Balance Sheets of the Company's Operating Leases
The following table summarizes the presentation in the Condensed Consolidated Balance Sheets of the Company’s operating leases (in thousands):
Balance Sheet LocationJune 30, 2025December 31, 2024
Operating lease assets:
Operating lease assets, netRight of use assets$7,916 $8,061 
Operating lease liabilities:
Current operating lease liabilitiesOperating lease liabilities – current liabilities$392 $937 
Non-current operating lease liabilitiesOperating lease liabilities – long-term liabilities8,489 7,924 
Total operating lease liabilities$8,881 $8,861 
The following table summarizes the presentation in the Condensed Consolidated Balance Sheets of the Company’s finance leases (in thousands):
Balance Sheet LocationJune 30, 2025December 31, 2024
Finance lease assets:
Finance lease assets, netRight of use assets$3,630 $3,947 
Finance lease liabilities:
Current finance lease liabilitiesFinance lease liabilities – current liabilities$1,616 $1,835 
Non-current finance lease liabilitiesFinance lease liabilities – long-term liabilities2,043 2,124 
Total finance lease liabilities$3,659 $3,959 
Maturities of Operating Lease Liabilities
Maturities of lease liabilities as of June 30, 2025 are as follows (in thousands):
Operating LeasesFinance Leases
2025 (remaining)$464 $1,082 
20261,153 1,512 
20271,462 1,042 
20281,506 478 
20291,537 23 
Thereafter9,024 — 
Total lease payments15,146 4,137 
Less imputed interest(6,265)(478)
Total$8,881 $3,659