Leases

3 Months Ended

Mar. 31, 2024

Leases [Abstract]

Leases

Leases

The Company leases real estate and equipment for use in its operations. The Company has 17 operating leases with remaining lease terms ranging from 1 to 58 months as of March 31, 2024.

The components of lease expense for the periods presented are as follows:

	Three Months Ended March 31,
(in thousands)	2024		2023
Components of total lease costs
Operating lease expense	$	761	$	1,379
Sublease income	(388)		(222)
Total net lease costs	$	373	$	1,157

Information related to the Company’s right-of-use assets and lease liabilities for the periods presented is as follows:

(dollars in thousands)	March 31, 2024		December 31, 2023
Operating leases
Operating leases right-of-use asset	$	5,872	$	6,452
Operating leases liability, current portion	$	3,879	$	4,219
Long-term operating leases liability, net of current portion	6,606		7,278
Total operating leases liability	$	10,485	$	11,497

Weighted average remaining lease term in years - operating leases	3.6		3.7
Weighted average discount rate - operating leases	4.89	%	4.92	%

Total remaining lease payments under the Company’s operating leases (excluding short term leases) for the periods presented are as follows:

(in thousands)	March 31, 2024
Remainder of fiscal year 2024	$	3,687
2025	2,380
2026	2,117
2027	2,149
2028	1,028
Thereafter	85
Total future minimum lease payments	$	11,446
Less: imputed interest	(961)
Total	$	10,485