Leases

12 Months Ended

Dec. 31, 2021

10. LEASES

The Company has entered into various non-cancelable office space operating leases with lease periods expiring through November 2024. These leases do not contain residual value guarantees, covenants, or other restrictions.

The components of lease costs for the years ended December 31, 2020 and 2021 were as follows:


	2020		2021
Lease costs
Operating lease cost	$	6,856	$	6,663
Short term lease cost		779		1,122
Variable lease cost(1)		1,302		1,690
Total lease costs	$	8,937	$	9,475

(1) Variable lease cost is primarily related to payments made to the Company’s landlords for common area maintenance, property taxes, insurance, and other operating expenses.

Rent expense incurred under operating leases prior to adoption of ASC 842 was $4,786 for the year ended December 31, 2019.

Future lease payments under the Company’s non-cancelable operating leases, which do not include short-term leases, as of December 31, 2021, were as follows:


	Operating leases
2022	$	6,829
2023		7,668
2024		7,226
2025 and thereafter		—
Total lease payments		21,723
Less imputed interest		(1,828	)
Present value of operating lease liabilities	$	19,895
Operating lease liabilities, current		8,031
Operating lease liabilities, non-current		11,864
Total operating lease liabilities	$	19,895

Supplemental cash flow information related to the Company’s operating leases for years ended December 31, 2020 and 2021 as well as the weighted-average remaining lease term and weighted-average discount rate as of December 31, 2020 and 2021 were as follows:


	Year Ended December 31,
	2020			2021
Supplemental cash flow information
Cash paid for amounts included in the measurement of operating lease liabilities	$	7,548		$	7,683
Operating lease ROU assets obtained in exchange for lease liabilities		—			—

	As of December 31,
Lease term and discount rate	2020			2021
Weighted-average remaining operating lease term (years)		3.87			2.92
Weighted-average operating lease discount rate		5.68	%		5.70	%