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Leases (Tables)
3 Months Ended
Mar. 31, 2024
Leases [Abstract]  
Schedule of Future Minimum Lease Payments

As of March 31, 2024, operating leases had a weighted-average remaining lease term of 10.3 years and a weighted-average discount rate of 10.5%. Discount rates are based on estimates of the Company's incremental borrowing rate, as the discount rates implicit in the leases cannot be readily determined. Future lease payments under operating leases as of March 31, 2024 were as follows (in thousands):

 

 

Amount

 

2024 (remaining nine months)

 

$

6,111

 

2025

 

 

8,057

 

2026

 

 

7,230

 

2027

 

 

7,189

 

2028

 

 

5,215

 

2029 and thereafter

 

 

42,798

 

Total future minimum lease payments

 

 

76,600

 

Less: imputed interest

 

 

(31,357

)

Present value of future minimum lease payments

 

 

45,243

 

Less: current portion of operating lease liability

 

 

(7,809

)

Long-term operating lease liabilities

 

$

37,434

 

Components of Lease Costs

Components of lease costs were as follows (in thousands):

 

 

Three Months Ended March 31,

 

 

 

2024

 

 

2023

 

Lease cost

 

 

 

 

 

 

Operating lease cost

 

$

1,521

 

 

$

1,749

 

Short-term lease cost

 

 

187

 

 

 

99

 

Variable lease cost

 

 

360

 

 

 

493

 

Total lease cost

 

$

2,068

 

 

$

2,341