Quarterly report pursuant to Section 13 or 15(d)

Operating leases

v3.24.3
Operating leases
9 Months Ended
Sep. 30, 2024
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 nine months ended September 30, 2024 and 2023 and the weighted-average remaining lease term and the weighted-average discount rate as at September 30, 2024 and 2023:

Nine months ended

September 30, 

     

2024

     

2023

Lease cost:

Operating lease cost

 

$

5,114

 

$

4,168

Short-term lease cost

 

98

 

643

 

$

5,212

 

$

4,811

September 30, 

2024

2023

Weighted-average remaining lease term - operating leases

6.9 years

5.6 years

Weighted-average discount rate - operating leases

10.1%

8.5%

The maturities of operating lease liabilities as of September 30, 2024 are as follows (in thousands):

     

Operating leases

2024

 

$

1,678

2025

 

5,715

2026

 

4,503

2027

 

4,335

2028

 

4,387

after 2028

 

12,306

Total lease payments

32,924

Less: Imputed interest

(8,294)

Present value of lease liability

$

24,630

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