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Leases (Tables)
3 Months Ended
Mar. 31, 2024
Leases [Abstract]  
Summary of Lease Expense

The components of lease expense for the three months ended March 31, 2024 are as follows (in thousands):

 

 

Three months ended
March 31,

 

 

 

2024

 

 

2023

 

Operating lease expense

 

$

1,651

 

 

$

2,142

 

Variable lease expense

 

 

879

 

 

 

531

 

Total lease expense

 

$

2,530

 

 

$

2,673

 

Schedule of Lease Terms and Discount Rate

The weighted average remaining lease term and discount rate related to the Company's leases are as follows:

 

March 31,
2024

 

 

December 31,
2023

 

Weighted average remaining lease term (years)

 

 

8.4

 

 

 

8.6

 

Weighted average discount rate

 

 

9.8

%

 

 

9.8

%

Schedule Of Supplemental Cash Flow Information Related To Leases

Supplemental cash flow information relating to the Company's leases for the three months ended March 31, 2024 are as follows (in thousands):

 

 

Three months ended
March 31,

 

 

 

2024

 

 

2023

 

Right-of-use assets obtained in exchange for operating lease obligations

 

$

108

 

 

$

-

 

Cash paid for amounts included in the measurement of lease liabilities

 

$

759

 

 

$

955

 

Schedule of Future Minimum Payments Under Non -cancelable Operating Leases

Future minimum lease payments under non-cancelable leases as of March 31, 2024 for each of the years ending December 31 are as follows (in thousands):

Undiscounted lease payments

 

 

 

2024

 

$

5,626

 

2025

 

 

7,686

 

2026

 

 

7,882

 

2027

 

 

7,639

 

2028

 

 

7,360

 

Thereafter

 

 

31,026

 

Total undiscounted minimum lease payments

 

 

67,219

 

Less: Imputed interest

 

 

(22,037

)

Total operating lease liability

 

$

45,182