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Leases (Tables)
12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Schedule of Lease Costs and Activity

The Company’s lease costs and activity for the years ended December 31, 2024 and 2023 were as follows (in thousands):

 

Year Ended
December 31,

   

2024

 

2023

Lease Cost

 

 

 

 

 

 

 

 

Operating lease cost

 

 

2,063

 

 

$

1,840

 

Short-term lease cost

 

 

39

 

 

 

 

Variable lease cost

 

 

671

 

 

 

526

 

Sublease income

 

 

(868

)

 

 

(379

)

Net lease cost

 

$

1,905

 

 

$

1,987

 

 

Year Ended
December 31,

   

2024

 

2023

Other information

 

 

   

 

 

Cash paid for amounts included in the measurement of lease liabilities:

 

 

   

 

 

Operating cash flows from operating leases

 

$

3,424

 

$

2,480

Right-of-use assets obtained in exchange for operating lease liabilities

 

$

3,428

 

$

7,155

Schedule of Maturity of Lease Liabilities on Undiscounted Cash Flow Basis and Reconciliation

The maturity of the Company’s lease liabilities on an undiscounted cash flow basis and a reconciliation to the operating lease liabilities recognized on the Company’s consolidated balance sheet as of December 31, 2024 were as follows (in thousands):

2025

 

 

2,863

 

2026

 

 

2,041

 

2027

 

 

2,099

 

2028

 

 

2,162

 

2029

 

 

1,844

 

Thereafter

 

 

3,139

 

Total lease payments

 

 

14,148

 

Less: interest

 

 

(3,083

)

Present value of lease liabilities

 

$

11,065

 

   

 

 

 

Operating lease liabilities

 

$

11,065