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Leases (Tables)
6 Months Ended
Jun. 30, 2024
Leases [Abstract]  
Schedule of Future Minimum Lease Payments

As of June 30, 2024, operating leases had a weighted-average remaining lease term of 10.1 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 June 30, 2024 were as follows (in thousands):

 

 

Amount

 

2024 (remaining six months)

 

$

4,087

 

2025

 

 

8,057

 

2026

 

 

7,230

 

2027

 

 

7,189

 

2028

 

 

5,215

 

2029 and thereafter

 

 

42,798

 

Total future minimum lease payments

 

 

74,576

 

Less: imputed interest

 

 

(30,194

)

Present value of future minimum lease payments

 

 

44,382

 

Less: current portion of operating lease liability

 

 

(7,858

)

Long-term operating lease liabilities

 

$

36,524

 

Components of Lease Costs

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

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Lease cost

 

 

 

 

 

 

 

 

 

 

 

 

Operating lease cost

 

$

1,511

 

 

$

1,843

 

 

$

3,032

 

 

$

3,592

 

Short-term lease cost

 

 

8

 

 

 

25

 

 

 

195

 

 

 

124

 

Variable lease cost

 

 

666

 

 

 

390

 

 

 

1,026

 

 

 

883

 

Total lease cost

 

$

2,185

 

 

$

2,258

 

 

$

4,253

 

 

$

4,599