Quarterly report [Sections 13 or 15(d)]

Operating leases

v3.25.2
Operating leases
6 Months Ended
Jun. 30, 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 six months ended June 30, 2025 and 2024 and the weighted-average remaining lease term and the weighted-average discount rate as at June 30, 2025 and 2024:

Six months ended

June 30, 

     

2025

     

2024

Lease cost:

Operating lease cost

 

$

3,290

 

$

3,388

Short-term lease cost

 

32

 

88

 

$

3,322

 

$

3,476

June 30, 

2025

2024

Weighted-average remaining lease term - operating leases

6.0 years

5.1 years

Weighted-average discount rate - operating leases

10.2%

7.8%

The maturities of operating lease liabilities as of June 30, 2025 are as follows (in thousands):

     

Operating leases

2025

 

$

3,789

2026

 

4,774

2027

 

4,391

2028

 

4,443

2029

 

4,496

after 2029

 

7,952

Total lease payments

29,845

Less: Imputed interest

(6,840)

Present value of lease liability

$

23,005

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