Quarterly report [Sections 13 or 15(d)]

LEASES (Tables)

v3.25.1
LEASES (Tables)
3 Months Ended
Mar. 31, 2025
Leases [Abstract]  
Schedule of Lease Cost
The components of lease expense for the three months ended March 31, 2025 and 2024 were as follows (in thousands):

Three months ended
March 31,
2025
March 31,
2024
Operating lease expense $ 533  $ 517 
Finance lease expenses:
Amortization of right of use assets $ 318  $ 196 
Interest on lease liabilities 95  82 
Total finance lease expense $ 413  $ 278 
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 March 31, 2025 and December 31, 2024 were as follows:
March 31,
2025
December 31,
2024
Weighted average remaining lease term (years):
  Operating leases 9.10 9.26
  Finance leases 2.58 2.78
Weighted average discount rate:
  Operating leases 11.2  % 11.1  %
  Finance leases 9.5  % 9.6  %
Schedule of Future Minimum Lease Payments
Future minimum lease payments as of March 31, 2025 under all non-cancelable leases having an initial or remaining term of more than one year were (in thousands):
Operating
leases
Finance
leases
Remainder of 2025 $ 1,585  $ 1,503 
2026 1,915  1,626 
2027 1,813  573 
2028 1,757  318 
2029 1,595  142 
Thereafter 7,795  28 
Total lease payments 16,460  4,190 
Less: imputed interest (7,110) (286)
$ 9,350  $ 3,904 
Schedule of Future Minimum Lease Payments
Future minimum lease payments as of March 31, 2025 under all non-cancelable leases having an initial or remaining term of more than one year were (in thousands):
Operating
leases
Finance
leases
Remainder of 2025 $ 1,585  $ 1,503 
2026 1,915  1,626 
2027 1,813  573 
2028 1,757  318 
2029 1,595  142 
Thereafter 7,795  28 
Total lease payments 16,460  4,190 
Less: imputed interest (7,110) (286)
$ 9,350  $ 3,904