Quarterly report [Sections 13 or 15(d)]

Operating leases

v3.25.1
Operating leases
3 Months Ended
Mar. 31, 2025
Operating leases  
Operating leases

Note 9 — Operating leases

The Company has operating leases in relation to property for office, manufacturing and research facilities.

The following table shows the lease costs for the three months ended March 31, 2025 and 2024 and the weighted-average remaining lease term and the weighted-average discount rate as at March 31, 2025 and 2024:

The following table shows the lease costs for the three months ended March 31, 2025 and 2024 and the weighted-average remaining lease term and the weighted-average discount rate as at March 31, 2025 and 2024:

Three months ended

March 31, 

2025

     

2024

Lease cost:

Operating lease cost

$

1,627

 

$

1,682

Short-term lease cost

 

11

 

59

$

1,638

 

$

1,741

March 31, 

2025

2024

Weighted-average remaining lease term - operating leases

6.1 years

5.3 years

Weighted-average discount rate - operating leases

10.4%

8.0%

The maturities of operating lease liabilities as of March 31, 2025 are as follows (in thousands):

     

Operating leases

2025

 

$

5,227

2026

 

4,633

2027

 

4,263

2028

 

4,315

2029

 

4,367

after 2029

 

7,753

Total lease payments

30,558

Less: Imputed interest

(7,263)

Present value of lease liability

$

23,295

The maximum lease term without activation of termination options is to 2041.