| Schedule of Lease Expense and Other Information |
Components of lease expense and other information for the periods presented are summarized as follows (in thousands, except terms and rates):
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2024 |
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2023 |
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2024 |
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2023 |
| Lease expense |
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| Finance lease expense: |
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| Amortization of right-of-use assets |
$ |
1,730 |
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$ |
1,809 |
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$ |
3,550 |
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$ |
3,748 |
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| Interest on lease liabilities |
330 |
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288 |
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|
648 |
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561 |
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| Operating lease expense |
1,423 |
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1,423 |
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2,845 |
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2,845 |
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| Short-term lease expense |
11 |
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5 |
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20 |
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11 |
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| Total lease expense |
$ |
3,494 |
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$ |
3,525 |
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$ |
7,063 |
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$ |
7,165 |
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| Supplemental cash flow information |
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| Finance leases: |
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| Operating cash outflow from finance leases |
$ |
330 |
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$ |
288 |
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$ |
648 |
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$ |
561 |
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| Financing cash outflow from finance leases |
$ |
1,755 |
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$ |
1,847 |
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$ |
3,542 |
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$ |
3,807 |
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| Finance lease liabilities arising from obtaining finance lease right-of-use assets |
$ |
1,705 |
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$ |
1,711 |
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$ |
3,576 |
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$ |
3,639 |
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| Operating leases: |
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| Operating cash outflow from operating leases |
$ |
1,430 |
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$ |
1,396 |
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$ |
2,861 |
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$ |
2,781 |
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| Operating lease liabilities arising from obtaining operating lease right-of-use assets |
$ |
— |
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$ |
— |
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$ |
149 |
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$ |
154 |
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Other information as of June 30, 2024 |
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| Finance leases: |
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| Weighted-average remaining lease term (years) |
1.9 |
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| Weighted-average discount rate |
11.0 |
% |
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| Operating leases: |
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| Weighted-average remaining lease term (years) |
8.6 |
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| Weighted-average discount rate |
3.9 |
% |
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| Schedule of Operating Lease Liability Maturity |
Future maturities of remaining lease payments included in the measurement of operating lease liabilities as of June 30, 2024 are as follows (in thousands):
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| Years ending December 31, |
| Remaining 2024 |
$ |
2,860 |
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| 2025 |
5,701 |
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| 2026 |
5,843 |
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| 2027 |
5,989 |
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| 2028 |
6,139 |
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| Thereafter |
26,695 |
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| Total |
53,227 |
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| Less: imputed interest |
(8,145) |
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| Present value of operating lease obligations |
$ |
45,082 |
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| Schedule of Finance Lease Liability Maturity |
Future minimum lease payments for the Company’s finance leases as of June 30, 2024 were as follows (in thousands):
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| Years ending December 31, |
| Remaining 2024 |
$ |
4,160 |
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| 2025 |
5,902 |
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| 2026 |
3,385 |
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| 2027 |
828 |
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| 2028 |
— |
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| Thereafter |
— |
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| Total |
14,275 |
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| Less: amounts representing interest |
(1,599) |
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| Present value of finance lease obligations |
$ |
12,676 |
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