LEASES

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

LEASES

LEASES

During the fiscal year ended December 31, 2022, the Company entered into new or modified lease agreements which were assessed under Topic 842 to be operating leases. The new or modified lease agreements resulted in the balance sheet recognition of $0.9 million in “Operating lease right-of use assets,” $0.7 million in “Operating lease liabilities, long-term,” and $0.2 million in “Operating lease liabilities, current.”

The components of lease expense are as follows:

	Year ended December 31,
(in thousands)	2022		2021
Operating lease cost	$	7,636	$	7,550
Variable lease cost	1,780		1,986
Total lease cost	$	9,416	$	9,536

Supplemental cash flow information related to leases are as follows:

	Year ended December 31,
(in thousands)	2022		2021
Cash paid for amounts included in the measurement of operating lease liabilities	$	7,528	$	7,644
ROU assets obtained in exchange for operating lease obligations	$	862	$	8,837

Other information related to leases are as follows:

	Year ended December 31,
	2022		2021
Operating leases
Weighted-average remaining lease term (years)	6.2		6.8
Weighted-average discount rate	6.3	%	6.3	%

Future minimum lease payments under non-cancelable operating leases as of December 31, 2022 are as follows (in thousands):

Years ending December 31,
2023	$	7,106
2024	7,066
2025	5,884
2026	4,847
2027	3,770
Thereafter	8,877
Total future minimum lease payments	$	37,550
Less: imputed interest	(6,667)
Total lease liability balance	$	30,883