Annual report [Section 13 and 15(d), not S-K Item 405]

LEASES (Tables)

v3.25.0.1
LEASES (Tables)
12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Schedule of components of lease expense
The components of lease expense for the years ended December 31, 2024 and 2023 were as follows (in thousands):

Year ended December 31,
2024 2023
Operating lease expense $ 2,069  $ 1,838 
Finance lease expense:
  Amortization of right-of-use assets $ 1,145  $ 606 
  Interest on lease liabilities 292  244 
    Total finance lease expense $ 1,437  $ 850 
Schedule of weighted average remaining lease terms and discount rates
The weighted average remaining lease terms and weighted average discount rates for the Company's operating leases and finance leases at December 31, 2024 and 2023 were as follows:

Year ended December 31,
2024 2023
Weighted average remaining lease term (years):
  Operating leases 9.26 9.83
  Finance leases 2.78 3.29
Weighted average discount rate:
  Operating leases 11.1  % 11.0  %
  Finance leases 9.6  % 11.0  %
Schedule of minimum lease payments due
Future minimum lease payments as of December 31, 2024 under all non-cancelable leases having an initial or remaining term of more than one year were as follows (in thousands):

Year ending December 31, Operating
leases
Finance
leases
2025 $ 1,988  $ 2,018 
2026 1,915  1,613 
2027 1,813  563 
2028 1,757  309 
2029 1,595  134 
  Thereafter 635  10 
Total lease payments 9,703  4,647 
Less: imputed interest (166) (703)
Present value of lease liabilities $ 9,537  $ 3,944 
Schedule of minimum lease payments due
Future minimum lease payments as of December 31, 2024 under all non-cancelable leases having an initial or remaining term of more than one year were as follows (in thousands):

Year ending December 31, Operating
leases
Finance
leases
2025 $ 1,988  $ 2,018 
2026 1,915  1,613 
2027 1,813  563 
2028 1,757  309 
2029 1,595  134 
  Thereafter 635  10 
Total lease payments 9,703  4,647 
Less: imputed interest (166) (703)
Present value of lease liabilities $ 9,537  $ 3,944