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LEASES

12 Months Ended

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:

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​	​	​	​	​	​	​	​	​
​	​	​	​	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

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The major components of lease cost are as follows:

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​	​	​	​	​	​
​	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

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The weighted-average term and discount rate for leases are as follows:

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​	​	​	​	​
​	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	%

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Lease liability maturities for the next five years and thereafter are as follows as of December 31, 2022:

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​	​	​	​	​	​	​	​
​		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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The entire disclosure of information about leases.

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