Quarterly report [Sections 13 or 15(d)]

LEASES

v3.25.1
LEASES
 3 Months Ended
Mar. 31, 2025
Leases [Abstract]  
LEASES
NOTE 12—LEASES
The Company's operating leases primarily consist of real estate leases such as offices. During the three months ended March 31, 2025 and 2024, operating lease expense was $1.0 million and $1.2 million, respectively. The Company does not have any finance leases. Total variable and short-term lease payments were immaterial for all periods presented.
Supplemental balance sheet information related to operating leases are as follows:
March 31, 2025 December 31, 2024
Operating lease right-of-use assets, net $ 8,737 $ 9,703
Operating lease liabilities, current 3,199 3,405
Operating lease liabilities, noncurrent 5,828 6,659
Operating lease liabilities, total $ 9,027 $ 10,064
Weighted average remaining lease term, years 2.4 2.9
Weighted average discount rate 6.3  % 6.1  %
Operating lease liability maturities:
Year ending December 31, Operating Leases
Remaining 2025 $ 2,764 
2026 3,569 
2027 3,019 
2028 446 
Total undiscounted cash flows $ 9,798 
Less: imputed interest $ (771)
Lease liabilities, total $ 9,027 
As of March 31, 2025, the Company did not have any material additional operating leases that have not yet commenced.