v3.25.2
Leases (Tables)
6 Months Ended 12 Months Ended
Jun. 30, 2025
Dec. 31, 2024
Leases [Abstract]    
Schedule of Maturity Analysis of the Annual Undiscounted Cash Flows to Be Received  

The following is a maturity analysis of the annual undiscounted cash flows to be received with respect to the Office Leases as of December 31, 2024:

 

2025  $974,622 
2026   979,145 
2027   1,008,506 
2028   1,038,789 
2029   1,069,994 
Thereafter   3,158,279 
Total  $8,229,335 
Schedule of Operating Leases

The following table presents balances reported in our condensed consolidated statements of financial position related to our operating leases as of June 30, 2025 and December 31, 2024:

 

   June 30,
2025
   December 31,
2024
 
Right-of-use assets  $64,192,028   $66,293,751 
           
Lease liabilities – current  $3,375,029   $4,969,959 
Lease liabilities – non-current   9,618,423    10,438,555 
Total lease liabilities  $12,993,452   $15,408,514 

 

The following is a summary of supplemental information pertaining to our operating leases for the six months ended June 30, 2025 and 2024:

 

   June 30,
2025
   June 30,
2024
 
Cash payments for operating leases  $2,054,585   $44,927,899 
Lease liabilities arising from obtaining right-of-use assets  $1,152,336   $5,688,671 

The following table presents balances reported in our consolidated statements of financial position related to our operating leases as of December 31, 2024 and 2023:

 

   2024   2023 
Right-of-use assets  $66,293,751   $11,907,557 
           
Lease liabilities – current  $4,969,959   $3,474,199 
Lease liabilities – non-current   10,438,555    9,594,373 
Total lease liabilities  $15,408,514   $13,068,572 

The following is a summary of supplemental information pertaining to our operating leases as of December 31, 2024, 2023 and 2022:

 

   2024   2023   2022 
Weighted average remaining lease term (in years)   5.44    5.65    6.02 
Weighted average discount rate   5.28%   4.69%   4.71%
                
Cash payments for operating leases  $47,136,626   $3,349,052   $1,665,561 
Lease liabilities arising from obtaining right-of-use assets  $4,745,979   $3,584,020   $4,340,721 
Schedule of Maturity Analysis of the Annual Undiscounted Cash Flows to Be Paid  

The following is a maturity analysis of the annual undiscounted cash flows to be paid on operating leases as of December 31, 2024:

 

2025  $5,611,005 
2026   3,277,749 
2027   2,484,428 
2028   1,373,566 
2029   1,266,921 
Thereafter   3,571,652 
Total undiscounted operating lease payments   17,585,321 
Less: imputed interest   2,176,807 
Present value of lease liabilities  $15,408,514