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LEASES | 12 Months Ended
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Dec. 31, 2022
LEASES |
LEASES | 8.LEASES The Company leases office space, IT equipment and office equipment. The Company’s leases have remaining terms of up to 7 years. The following table sets forth the Company’s lease assets and liabilities and their balance sheet location as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | As of December 31,
​ |  | Balance Sheet Location | ​ | 2022 |  | 2021
Lease assets: | ​ | ​ | ​ | ​ | ​ | ​
Operating lease right-of-use assets | ​ | Operating lease right-of-use assets | ​ | $ | 17,187 | ​ | $ | 20,249
Finance lease assets | ​ | Property and equipment, net (Note 6) | ​ | ​ | 600 | ​ | ​ | 602
Total lease assets | ​ | ​ | ​ | $ | 17,787 | ​ | $ | 20,851
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Lease liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Operating lease liabilities | ​ | Current portion of operating lease liabilities | ​ | $ | 4,086 | ​ | $ | 3,933
Finance lease liabilities | ​ | Current portion of finance lease liabilities | ​ | ​ | 103 | ​ | ​ | 284
Total current lease liabilities | ​ | ​ | ​ | $ | 4,189 | ​ | ​ | 4,217
Non-current: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Operating lease liabilities | ​ | Operating lease liabilities, net of current portion | ​ | $ | 20,421 | ​ | $ | 24,320
Finance lease liabilities | ​ | Finance lease liabilities, net of current portion | ​ | ​ | 10 | ​ | ​ | 68
Total non-current lease liabilities | ​ | ​ | ​ | ​ | 20,431 | ​ | ​ | 24,388
Total lease liabilities | ​ | ​ | ​ | $ | 24,620 | ​ | $ | 28,605
​ ​ ​ ​ ​ ​ ​ The major components of lease cost are as follows: ​
​ | ​ | ​ | ​ | ​ | ​
​ | For the year ended December 31,
​ | 2022 | ​ | 2021
​ | ​ | ​ | ​
Operating lease cost | $ | 3,714 | ​ | $ | 4,774
​ | ​ | ​ | ​ | ​ | ​
Finance lease cost: | ​ | ​ | ​ | ​ | ​
Amortization of lease assets | ​ | 1,275 | ​ | ​ | 931
Interest on lease liabilities | ​ | 18 | ​ | ​ | 16
Total lease cost | $ | 5,007 | ​ | $ | 5,721
​ ​ The weighted-average term and discount rate for leases are as follows: ​
​ | ​ | ​ | ​ | ​
​ | As of December 31, | ​
​ | 2022 | ​ | 2021 | ​
Weighted-average remaining lease term (years): | ​ | ​ | ​ | ​
Operating leases | 5.7 | ​ | 6.6 | ​
Finance leases | 0.5 | ​ | 1.2 | ​
​ | ​ | ​ | ​ | ​
Weighted-average discount rate: | ​ | ​ | ​ | ​
Operating leases | 2.3 | % | 2.3 | %
Finance leases | 2.3 | % | 2.3 | %
​ ​ Lease liability maturities for the next five years and thereafter are as follows as of December 31, 2022: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Operating Leases |  | Finance Leases | ​
2023 | ​ | $ | 4,721 | ​ | $ | 104 | ​
2024 | ​ | ​ | 4,464 | ​ | ​ | 10 | ​
2025 | ​ | ​ | 4,382 | ​ | ​ | — | ​
2026 | ​ | ​ | 4,477 | ​ | ​ | — | ​
2027 | ​ | ​ | 4,572 | ​ | ​ | — | ​
Thereafter | ​ | ​ | 3,482 | ​ | ​ | — | ​
Total lease payments | ​ | ​ | 26,098 | ​ | ​ | 114 | ​
Less: Imputed interest | ​ | ​ | (1,591) | ​ | ​ | (1) | ​
Present value of lease liabilities | ​ | $ | 24,507 | ​ | $ | 113 | ​
​

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