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Leases (Tables)
 12 Months Ended
Dec. 31, 2023
Leases [Abstract]  
Summary of lease cost

The components of lease costs are as follows (in thousands):

 

 

Year Ended December 31,

 

 

 

2023

 

 

2022

 

Operating lease costs

 

 

 

 

 

 

Fixed

 

$

5,330

 

 

$

7,102

 

Short-term

 

 

345

 

 

 

247

 

Variable

 

 

23

 

 

 

28

 

Sub-leases

 

 

(50

)

 

 

(56

)

Total operating lease costs

 

$

5,648

 

 

$

7,321

 

 

 

 

 

 

 

 

Finance lease costs

 

 

 

 

 

 

Amortization of leased assets

 

$

78

 

 

$

713

 

Interest on lease liabilities

 

 

2

 

 

 

29

 

Total finance lease costs

 

$

80

 

 

$

742

 

Total lease cost

 

$

5,728

 

 

$

8,063

 
Summary of Supplemental balance sheet information related to leases

Supplemental balance sheet information related to leases is as follows (in thousands):

 

 

 

 

December 31,

 

 

 

Classification

 

2023

 

 

2022

 

Assets

 

 

 

 

 

 

 

 

Operating leases

 

 

 

 

 

 

 

 

Right of use operating lease assets

 

Other assets

 

$

7,277

 

 

$

10,674

 

Finance leases

 

 

 

 

 

 

 

 

Property and equipment, gross

 

Property and equipment, net

 

 

5,860

 

 

 

5,094

 

Accumulated depreciation

 

Property and equipment, net

 

 

(5,860

)

 

 

(5,017

)

Property and equipment, net

 

Property and equipment, net

 

 

—

 

 

 

77

 

Total lease assets

 

 

 

$

7,277

 

 

$

10,751

 

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

Operating leases

 

 

 

 

 

 

 

 

Other current

 

Current portion of operating lease liability

 

$

3,354

 

 

$

4,957

 

Non-current

 

Operating lease liability, less current portion

 

 

5,931

 

 

 

7,879

 

Total operating liabilities

 

 

 

 

9,285

 

 

 

12,836

 

Finance leases

 

 

 

 

 

 

 

 

Other current

 

Accrued liabilities

 

 

—

 

 

 

104

 

Total finance liabilities

 

 

 

 

—

 

 

 

104

 

Total lease liabilities

 

 

 

$

9,285

 

 

$

12,940

 

 
Summary of maturities of lease liabilities

Maturities of lease liabilities are as follows (in thousands):

Years Ending December 31,

 

Operating Leases

 

2024

 

$

3,844

 

2025

 

 

2,659

 

2026

 

 

1,903

 

2027

 

 

873

 

2028

 

 

815

 

Thereafter

 

 

909

 

Total minimum lease payments

 

$

11,003

 

Less: Imputed interest

 

 

(1,473

)

Present value of minimum lease payments

 

$

9,530

 
Summary of weighted average lease term and discount rate operating lease and financing lease

Lease term and discount rates are as follows:

 

 

Year Ended December 31,

 

 

 

2023

 

 

2022

 

Weighted average remaining lease term

 

 

 

 

 

 

Operating leases

 

3.4 Years

 

 

2.7 Years

 

Finance leases

 

 

—

 

 

0.7 Years

 

 

 

 

 

 

 

 

Weighted average discount rate

 

 

 

 

 

 

Operating leases

 

 

6.85

%

 

 

5.06

%

Finance leases

 

 

—

 

 

 

5.72

%
Summary of Supplemental cash flow information related to leases

Supplemental cash flow information related to leases was as follows (in thousands):

 

 

Year Ended December 31,

 

 

 

2023

 

 

2022

 

Cash paid for amounts included in measurement of lease liabilities:

 

 

 

 

 

 

Operating cash flows from operating leases

 

$

6,825

 

 

$

7,738

 

Operating cash flows from finance leases

 

 

2

 

 

 

29

 

Financing cash flows from finance leases

 

 

104

 

 

 

884

 

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

 

 

 

 

 

 

Operating leases

 

$

5,084

 

 

$

19,972

 

Amortization:

 

 

 

 

 

 

Amortization of right-of-use operating lease assets (1)

 

$

4,766

 

 

$

6,343

 
(1)
Amortization of right of use operating lease assets during the period is reflected in operating lease liabilities on the consolidated statements of cash flows.