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LEASES | 9 Months Ended
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Sep. 30, 2024
Leases [Abstract] |
LEASES | LEASES All of our leases are operating leases and each contain customary rent escalation clauses. Certain of the leases have both lease and non-lease components. We have elected to account for each separate lease component and the non-lease components associated with that lease component as a single lease component for all classes of underlying assets. The following table provides additional details of our facility leases presented in our condensed balance sheets (dollars in thousands):
Facilities | September 30, 2024 |  | December 31, 2023
Right-of-use assets | $ | 3,625 |  | $ | 5,589
Current portion of lease liabilities | 2,567 |  | 4,435
Operating lease liability, net of current portion | 1,218 |  | 1,725
Total lease liabilities | $ | 3,785 |  | $ | 6,160
Weighted-average remaining life (years) | 1.7 |  | 1.6
Weighted-average discount rate | 6.6 | % |  | 6.8 | %
The lease costs, which are included in operating expenses in our condensed statements of operations and comprehensive income (loss), were as follows (in thousands):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Operating lease expense | $ | 1,067 |  |  | $ | 1,061 |  |  | $ | 3,204 |  |  | $ | 3,127 |
Cash paid for operating lease | $ | 1,229 |  |  | $ | 1,119 |  |  | $ | 3,594 |  |  | $ | 3,316 |
The following table summarizes our undiscounted cash payment obligations for our operating lease liabilities as of September 30, 2024 (in thousands):
Remainder of 2024 | $ | 1,255 |
2025 | 1,660 |
2026 | 702 |
2027 | 238 |
2028 | 124 |
Thereafter | 21 |
Total undiscounted operating lease payments | 4,000 |
Imputed interest expenses | (215) |
Total operating lease liabilities | 3,785 |
Less: Current portion of operating lease liability | (2,567) |
Operating lease liability, net of current portion | $ | 1,218 |

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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