Note 6. Leases
The Company
entered into operating leases primarily for offices. The leases have remaining lease terms of up to 11.5 years, some of which may include
options to extend the leases for up to an additional 1 year.
The components of operating lease costs were as
follows:
| | |
Six months ended
June 30, | |
| | |
2025 | | |
2024 | |
| | |
(Unaudited) | | |
(Unaudited) | |
| Operating lease cost | |
$ | 2,678 | | |
$ | 2,782 | |
| Short-term lease cost | |
| 145 | | |
| 93 | |
| Variable lease cost | |
| 147 | | |
| 166 | |
| Total net lease costs | |
$ | 2,970 | | |
$ | 3,041 | |
Supplemental balance sheet information related
to operating leases is as follows:
| | | June 30, | | | December 31, | | | | | 2025 | | | 2024 | | | | | (Unaudited) | | | | | | Operating lease ROU assets | | $ | 17,464 | | | $ | 10,604 | | | Operating lease liabilities, current | | $ | 4,236 | | | $ | 4,125 | | | Operating lease liabilities, long-term | | $ | 18,095 | | | $ | 6,844 | | | Weighted average remaining lease term (in years) | | | 8.42 | | | | 5.11 | | | Weighted average discount rate | | | 4.21 | % | | | 3.01 | % |
Minimum lease payments for the Company’s
ROU assets over the remaining lease periods as of June 30, 2025, are as follows:
| | |
Operating Leases | |
| 2025 | |
$ | 2,533 | |
| 2026 | |
| 3,276 | |
| 2027 | |
| 2,961 | |
| 2028 | |
| 2,561 | |
| 2029 and thereafter | |
| 17,265 | |
| | |
| | |
| Total undiscounted lease payments | |
| 28,596 | |
| Less: imputed interest | |
| (6,265 | ) |
| | |
| | |
| Present value of lease liabilities | |
$ | 22,331 | |
|