Leases (Tables)
|
6 Months Ended |
Jun. 30, 2025 |
|---|
| Leases [Abstract] |
|
| Schedule of the Components of Lease Costs |
The components of lease costs for the three and six months ended June 30, 2025 and 2024 are as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Three Months Ended
June 30, |
|
Six Months Ended
June 30, |
| |
|
2025 |
|
2024 |
|
2025 |
|
2024 |
| Operating lease cost |
|
$ |
514 |
|
|
$ |
472 |
|
|
$ |
1,016 |
|
|
$ |
945 |
|
| Variable lease cost |
|
101 |
|
|
97 |
|
|
260 |
|
|
172 |
|
|
|
|
|
|
|
|
|
|
| Total lease cost |
|
$ |
615 |
|
|
$ |
569 |
|
|
$ |
1,276 |
|
|
$ |
1,117 |
|
Supplemental cash flow information and non-cash activity related to the Company’s leases are as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Six Months Ended
June 30, |
|
|
2025 |
|
2024 |
| Cash paid for amounts included in the measurement of lease liabilities and right of use assets: |
|
|
|
|
| Operating cash flow from operating leases |
|
$ |
1,084 |
|
|
$ |
965 |
|
| |
|
|
|
|
| Right of use assets obtained in exchange for lease obligations: |
|
|
|
|
| Operating leases |
|
$ |
37 |
|
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Increases to right of use assets resulting from lease modifications: |
|
|
|
|
| Operating leases |
|
$ |
344 |
|
|
$ |
— |
|
Weighted average remaining lease terms and discount rates for the Company’s operating leases are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
As of June 30, |
| |
|
2025 |
|
2024 |
| |
|
|
|
|
| |
|
Years |
|
Years |
| Weighted average remaining lease term: |
|
4.9 |
|
5.8 |
|
|
|
|
|
| |
|
Rate |
|
Rate |
| Weighted average discount rate: |
|
7.6% |
|
7.8% |
|
| Schedule of Future Maturities of Lease Liabilities |
Future maturities of lease liabilities as of June 30, 2025 are as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
| |
|
Operating
Leases
|
|
|
| 2025 |
|
$ |
944 |
|
|
|
| 2026 |
|
1,903 |
|
|
|
| 2027 |
|
1,627 |
|
|
|
| 2028 |
|
1,504 |
|
|
|
| 2029 |
|
1,396 |
|
|
|
2030 and thereafter |
|
1,091 |
|
|
|
| Total undiscounted lease payments |
|
8,465 |
|
|
|
| Less: Imputed interest |
|
(2,922) |
|
|
|
| Total lease liabilities |
|
$ |
5,543 |
|
|
|
|
|
|
|
|
|
|
| Schedule of Leases Revenues |
The components of the Company’s lease revenues consisted of the following (in thousands ) for the three and six months ended June 30, 2025 and 2024:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended June 30, |
|
Six Months Ended June 30, |
|
2025 |
|
2024 |
|
2025 |
|
2024 |
| Net operating lease revenue |
$ |
7,679 |
|
|
$ |
6,872 |
|
|
$ |
15,382 |
|
|
$ |
12,983 |
|
| Sales-type lease revenue |
100 |
|
|
144 |
|
|
187 |
|
|
401 |
|
| Total lease revenue |
$ |
7,779 |
|
|
$ |
7,016 |
|
|
$ |
15,569 |
|
|
$ |
13,384 |
|
|
| Schedule of Net Investment in Sales-Type Leases |
The components of our net investment in sales-type leases as of June 30, 2025 and December 31, 2024 were (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30,
2025 |
|
December 31,
2024 |
|
| Lease receivable |
$ |
1,423 |
|
|
$ |
1,934 |
|
|
|
|
|
|
|
| Net investment in leases |
$ |
1,423 |
|
|
$ |
1,934 |
|
|
Our net investment in sales-type leases is classified as follows in the accompanying condensed consolidated balance sheets as of June 30, 2025 and December 31, 2024 were (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30,
2025 |
|
December 31,
2024 |
| Accounts receivable, net |
$ |
1,165 |
|
|
$ |
1,207 |
|
| Other assets |
258 |
|
|
727 |
|
| Total |
$ |
1,423 |
|
|
$ |
1,934 |
|
|
| Schedule of Future Maturities of Sales-Type Leases |
Future maturities of sales-type leases as of June 30, 2025 are as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
Sales-Type Leases |
| 2025 |
|
$ |
704 |
|
| 2026 |
|
733 |
|
| 2027 |
|
105 |
|
| 2028 |
|
7 |
|
| 2029 |
|
— |
|
| Thereafter |
|
— |
|
| Total undiscounted lease payments |
|
1,549 |
|
| Less: Imputed interest |
|
(126) |
|
| Total lease receivables |
|
$ |
1,423 |
|
|
|
|
|