Leases

9 Months Ended

Sep. 30, 2022

The Company leases office space, domestically and internationally, under operating leases. The Company’s leases have remaining lease terms generally between one year and eight years. Operating leases are included in operating lease right-of-use (“ROU”) assets, operating lease liabilities and long-term operating lease liabilities on the Company’s unaudited condensed consolidated balance sheets. The Company does not have any finance leases.

The table below reconciles the undiscounted cash flows for the first five years and total of the remaining years to the operating lease liabilities recorded on the unaudited condensed consolidated balance sheet as of September 30, 2022 (in thousands):


Years ending December 31,	Amount
2022 (remaining three months)	$	2,038
2023	6,421
2024	5,284
2025	5,358
2026	5,587
Thereafter	17,727
Total minimum lease payments	42,415
Less: amount of lease payments representing interest	(6,887)
Present value of future minimum lease payments	35,528
Less: current obligations under leases	(5,435)
Long-term lease obligations	$	30,093

As of September 30, 2022, the weighted-average remaining lease term for the Company’s operating leases was 7.2 years and the weighted-average discount rate used to determine the present value of the Company’s operating leases was 5.3%.

Operating lease costs included in research and development and selling, general and administrative costs on the unaudited condensed consolidated statements of operations were $1.9 million for both the three months ended September 30, 2022 and 2021. Operating lease costs included in research and development and selling, general and administrative costs on the unaudited condensed consolidated statements of operations were $5.6 million for both the nine months ended September 30, 2022 and 2021, respectively.

Cash paid for amounts included in the measurement of operating lease liabilities were $6.7 million and $6.4 million for the nine months ended September 30, 2022 and 2021, respectively.