Lease Arrangements (Tables)

9 Months Ended

Sep. 30, 2022

Supplemental balance sheet information related to our leases is as follows (in thousands):


		September 30, 2022		December 31, 2021
	Classification	(Unaudited)

Assets
Operating lease assets	Operating lease right-of-use assets	$	46,429	$	36,304
Finance lease assets	Other assets	154		—
Total lease assets		$	46,583	$	36,304

Liabilities
Current
Operating lease liabilities	Operating lease liabilities	$	1,365	$	3,011
Finance lease liabilities	Accrued expenses and other liabilities	75		—
Non-current
Operating lease liabilities	Operating lease liabilities, less current portion	49,561		37,068
Finance lease liabilities	Other liabilities	84		—
Total lease liabilities		$	51,085	$	40,079

Information regarding our lease terms is as follows:

September 30,
2022

December 31,
2021

(Unaudited)

Weighted-average remaining lease term:

Operating leases

6.8 years

7.8 years

Finance leases

2.0 years

N/A

Weighted-average discount rate:

Operating leases

10.5

9.6

Finance leases

11.7

N/A

The components of lease expense consist of the following (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(Unaudited)				(Unaudited)

Operating lease costs	$	2,841	$	1,546	$	8,091	$	5,410
Short-term lease costs	2,086		—		2,086		—
Finance lease costs (including amortization and interest costs)	56		—		56		—
Variable lease costs	808		856		2,924		2,039
Total lease costs	$	5,791	$	2,402	$	13,157	$	7,449

Cash paid for amounts included in the measurement of lease liabilities is as follows (in thousands):


	Nine Months Ended September 30,
	2022		2021
	(Unaudited)

Cash paid for operating leases (excluding variable lease costs)	$	7,350	$	5,878
Financing cash flow from finance leases	40		—
Operating cash flow from finance leases	11		—


Years ending December 31:	Operating Leases		Finance Leases		Total

2022 (excluding the nine months ended September 30, 2022)	$	2,632	$	22	$	2,654
2023	9,534		88		9,622
2024	12,112		66		12,178
2025	12,151		—		12,151
2026	10,289		—		10,289
Thereafter	31,457		—		31,457
Total future minimum lease payments	78,175		176		78,351
Less: Interest	23,362		17		23,379
Less: Tenant improvement allowance receivable	3,887		—		3,887
Present value of operating lease liabilities	$	50,926	$	159	$	51,085