Quarterly report [Sections 13 or 15(d)]

Leases (Tables)

v3.25.2
Leases (Tables)
6 Months Ended
Jun. 30, 2025
Leases [Abstract]  
Schedule of Lease Expense and Other Supplemental Information
Lease expense consisted of the following for the three and six months ended June 30, 2025 and 2024 (in thousands):
Three Months Ended June 30, Six Months Ended June 30,
2025 2024 2025 2024
Operating lease expense $ 1,341  $ 1,538  $ 2,853  $ 3,204 
Short-term lease expense —  25  —  25 
Financing lease expense:
Amortization of right-of-use assets 38  57  75  110 
Interest on lease liabilities 16  10  33 
Total lease expense $ 1,384  $ 1,636  $ 2,938  $ 3,372 
Other supplemental information related to leases for the three and six months ended June 30, 2025 and 2024 and at June 30, 2025 and December 31, 2024 is as follows (in thousands):

Three Months Ended June 30, Six Months Ended June 30,
2025 2024 2025 2024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases $ 1,321  $ 1,491  $ 2,854  $ 3,121 
Operating cash flows from financing leases 16  10  33 
Financing cash flows from financing leases 73  110  147  210 
Right-of-use assets obtained in exchange for lease obligations:
Operating leases $ 2,231  $ (24) $ 2,492  $ (24)
Financing leases —  76  27  76 
June 30, December 31,
2025 2024
Weighted-average remaining lease term:
Operating leases 3.0 years 2.8 years
Financing leases 1.6 years 1.6 years
Weighted-average discount rate:
Operating leases 9.8  % 9.7  %
Financing leases 8.8  % 8.0  %
Schedule of Supplemental Balance Sheet Information
Right of use assets and liabilities related to financing leases are recorded in the following line items on the unaudited condensed consolidated balance sheets at June 30, 2025 and December 31, 2024 (in thousands):

June 30, December 31,
2025 2024
Property, plant and equipment, net $ 521  $ 600 
Accrued expenses and other current liabilities 115  229 
Other liabilities 76  106 
Schedule of Finance Lease Liabilities
Maturities of lease liabilities at June 30, 2025 are as follows (in thousands):
Operating Leases Financing Leases
Remainder of 2025 $ 1,963  $ 90 
2026 2,223  72 
2027 1,092  43 
2028 358 
2029 16  — 
Thereafter 488  — 
Total lease payments 6,140  206 
Less: Present value discount 879  15 
Present value of lease payments $ 5,261  $ 191 
Schedule of Operating Lease Liabilities
Maturities of lease liabilities at June 30, 2025 are as follows (in thousands):
Operating Leases Financing Leases
Remainder of 2025 $ 1,963  $ 90 
2026 2,223  72 
2027 1,092  43 
2028 358 
2029 16  — 
Thereafter 488  — 
Total lease payments 6,140  206 
Less: Present value discount 879  15 
Present value of lease payments $ 5,261  $ 191 
Schedule of Lease Liability Maturity Outstanding Long-Term Leases
Maturities of lease payments for the Company’s outstanding long-term leases at June 30, 2025 are as follows (in thousands):
Remainder of 2025 $ 772 
2026 1,404 
2027 702 
2028 — 
2029 — 
Thereafter — 
Total lease payments $ 2,878