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

Leases

v3.25.1
Leases
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Leases Leases
The Company has operating leases primarily for facility equipment. The Company also has a financing lease for intra-facility transport vehicles. Certain lease agreements include options to renew or terminate the lease, which are not reasonably certain to be exercised and, therefore, are not factored into the determination of lease payments.
The components of lease expense were as follows:

Year Ended December 31,
2024 2023
(in thousands)
Operating lease cost $ 83 $ 102
Finance lease cost:
Amortization of right-of-use assets 37 —
Interest on lease obligations 24 —
Short-term lease cost 723 816
Total lease expense $ 867 $ 918
As of December 31, 2024, the weighted average remaining lease term and weighted average discount rate for all operating leases was 2.8 years and 7.3%, respectively. As of December 31, 2024, the weighted average remaining lease term and weighted average discount rate for all finance leases was 4.4 years and 13.8%, respectively.
As of December 31, 2024, the maturities of lease liabilities under non-cancelable operating and finance leases were as follows:

Operating Leases Finance Leases
(in thousands) (in thousands)
2025 $ 35 $ 86
2026 35 86
2027 26 86
2028 — 86
2029 — 30
Total minimum lease payments 96 374
Less: imputed interest (9) (87)
Total $ 87 $ 287