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

LEASES

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LEASES
12 Months Ended
Dec. 31, 2024
LEASES  
LEASES

NOTE 19. LEASES

The Company has entered into leases for certain facilities, vehicles and other equipment. Our leases have remaining contractual terms of up to ten years, some of which include options to extend the leases for up to five years. Our lease costs are primarily related to facility leases for inventory warehousing, administration offices and vehicles. The Company’s finance leases are immaterial.

Lease ROU assets and liabilities as of December 31, 2024 and 2023, were as follows:

Balance Sheet Classification

December 31, 2024

December 31, 2023

Assets

Lease ROU assets

Other long-term assets

$

13,825

$

15,180

Liabilities

Current lease liabilities

Accrued liabilities

$

3,470

$

3,179

Noncurrent lease liabilities

Other long-term liabilities

$

11,288

$

13,030

Lease costs were as follows:

Affected line item in the Consolidated

Year Ended

Statements of Comprehensive Loss

December 31, 2024

December 31, 2023

Lease costs

Cost of goods sold, Selling, general and administrative

$

3,956

$

4,147

Variable lease costs

Cost of goods sold, Selling, general and administrative

900

1,255

Short-term lease costs

Cost of goods sold, Selling, general and administrative

635

624

$

5,491

$

6,026

The maturity of lease liabilities as of December 31, 2024 are as follows:

Years Ending December 31,

Lease Payments

2025

$

4,037

2026

3,288

2027

2,516

2028

2,543

2029

2,459

Thereafter

1,732

Total future lease payments

16,575

Less: amount representing interest

(1,817)

Present value of future lease payments

14,758

Less: current lease obligations

(3,470)

Long-term lease obligations

$

11,288

As of December 31, 2024, our leases have a weighted-average remaining lease term of 5.11 years and a weighted-average discount rate of 4.23%.