Leases |
16. LEASES The Company has operating leases for its various facilities. As of June 30, 2025 and December 31, 2024, the Company's weighted-average remaining lease term was 4.4 years and 5.2 years, respectively. As of June 30, 2025 and December 31, 2024, the weighted-average discount rate was 7.8% and 8.2%, respectively. The components of lease cost were as follows (in thousands):
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2025 |
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2024 |
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|
2025 |
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|
2024 |
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Operating lease cost(1) |
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Fixed lease cost |
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$ |
989 |
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$ |
620 |
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|
$ |
1,659 |
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$ |
1,174 |
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Short-term cost |
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|
147 |
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|
|
35 |
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|
|
231 |
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|
|
80 |
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Total operating lease cost |
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$ |
1,136 |
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|
$ |
655 |
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|
$ |
1,890 |
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|
$ |
1,254 |
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(1)The lease costs are reflected in the condensed consolidated statements of operations as follows (in thousands):
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2025 |
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|
2024 |
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|
2025 |
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|
2024 |
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Cost of revenue |
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$ |
176 |
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|
$ |
60 |
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$ |
265 |
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|
$ |
123 |
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Research and development |
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|
686 |
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|
403 |
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|
1,179 |
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|
|
737 |
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Sales and marketing |
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|
147 |
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|
35 |
|
|
|
235 |
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|
|
56 |
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General and administrative |
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|
127 |
|
|
|
157 |
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|
|
211 |
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|
|
338 |
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Total operating lease cost |
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$ |
1,136 |
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|
$ |
655 |
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|
$ |
1,890 |
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|
$ |
1,254 |
|
Supplemental cash flow and other information related to operating leases was as follows (in thousands):
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2025 |
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|
2024 |
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|
2025 |
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|
2024 |
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Cash payments (receipts) included in the measurement of operating lease liabilities, net of lease incentives |
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$ |
742 |
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$ |
226 |
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$ |
1,543 |
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|
$ |
(2,097 |
) |
As of June 30, 2025, maturities of operating lease liabilities are as follows (in thousands):
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Amount |
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Year Ending December 31, |
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2025 |
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$ |
2,984 |
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2026 |
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|
5,498 |
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2027 |
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|
4,411 |
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2028 |
|
|
4,479 |
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2029 |
|
|
3,983 |
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Thereafter |
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|
1,510 |
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Total lease payments |
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$ |
22,865 |
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Less: imputed interest |
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|
(3,600 |
) |
Present value of operating lease liabilities |
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$ |
19,265 |
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