Leases (Tables)
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6 Months Ended |
Jun. 30, 2025 |
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| Leases [Abstract] |
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| Schedule of Operating and Finance Leases Recorded in Consolidated Balance Sheet |
Operating and finance lease amounts from continuing operations included in the unaudited condensed consolidated balance sheet are as follows (in thousands):
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| Classification |
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Financial Statement Line Item |
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June 30, 2025 |
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December 31, 2024 |
| Long-term Assets |
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Right-of-use assets, operating leases |
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$ |
15,401 |
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$ |
28,140 |
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| Long-term Assets |
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Property, plant and equipment |
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1,077 |
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1,227 |
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| Current liabilities |
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Current portion of lease liabilities, operating leases |
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1,016 |
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1,495 |
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| Current liabilities |
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Current portion of lease liabilities, finance leases |
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301 |
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293 |
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| Non-current liabilities |
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Non-current portion of lease liabilities, operating leases |
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18,823 |
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29,972 |
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| Non-current liabilities |
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Non-current portion of lease liabilities, finance leases |
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862 |
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1,015 |
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| Schedule of Operating and Finance Leases Discount Rates, Total Lease Cost and Weighted Average Remaining Leases |
Individual components of the total lease cost incurred by the Company are as follows:
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Three Months Ended June 30, |
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Six Months Ended June 30, |
| (in thousands) |
2025 |
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2024 |
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2025 |
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2024 |
Operating lease cost1
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$ |
768 |
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$ |
980 |
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$ |
1,721 |
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$ |
1,960 |
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| Finance lease cost: |
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| Amortization of right-of-use assets |
75 |
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78 |
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151 |
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160 |
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| Interest on finance lease liabilities |
18 |
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22 |
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36 |
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44 |
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| Sublease income |
(114) |
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(92) |
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(261) |
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(184) |
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| Total lease cost |
$ |
747 |
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$ |
988 |
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$ |
1,647 |
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$ |
1,980 |
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1Includes short term leases, which are immaterial
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| Weighted-average remaining lease term |
June 30, 2025 |
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December 31, 2024 |
| Operating leases |
11.07 years |
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11.59 years |
| Finance leases |
3.64 years |
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4.13 years |
| Weighted-average discount rate |
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| Operating leases |
7.64 |
% |
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7.15 |
% |
| Finance leases |
5.93 |
% |
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5.75 |
% |
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| Schedule of Maturities For Sub Leases |
Future expected cash receipts from the Company's sublease as of June 30, 2025 are as follows:
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| (in thousands) |
Sublease Receipts |
| Remainder of 2025 |
$ |
293 |
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| 2026 |
594 |
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| 2027 |
606 |
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| 2028 |
618 |
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| 2029 |
631 |
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| Thereafter |
4,597 |
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| Total sublease receipts |
$ |
7,339 |
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| Schedule of Maturities For Operating Leases After Adoption of 842 |
The amounts of undiscounted future minimum lease payments under leases in continuing operations as of June 30, 2025 are as follows:
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| (in thousands) |
Operating |
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Finance |
| Remainder of 2025 |
$ |
1,247 |
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$ |
180 |
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| 2026 |
2,481 |
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361 |
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| 2027 |
2,532 |
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361 |
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| 2028 |
2,584 |
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303 |
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| 2029 |
2,637 |
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85 |
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| Thereafter |
18,310 |
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— |
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| Total undiscounted minimum future lease payments |
29,791 |
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1,290 |
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| Imputed interest |
(9,952) |
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(127) |
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| Present value of lease liabilities |
$ |
19,839 |
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$ |
1,163 |
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| Schedule of Maturities For Finance Leases After Adoption of 842 |
The amounts of undiscounted future minimum lease payments under leases in continuing operations as of June 30, 2025 are as follows:
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| (in thousands) |
Operating |
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Finance |
| Remainder of 2025 |
$ |
1,247 |
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$ |
180 |
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| 2026 |
2,481 |
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361 |
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| 2027 |
2,532 |
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361 |
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| 2028 |
2,584 |
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303 |
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| 2029 |
2,637 |
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85 |
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| Thereafter |
18,310 |
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— |
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| Total undiscounted minimum future lease payments |
29,791 |
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1,290 |
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| Imputed interest |
(9,952) |
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(127) |
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| Present value of lease liabilities |
$ |
19,839 |
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$ |
1,163 |
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