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Leases (Tables) | 9 Months Ended
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Sep. 30, 2024
Leases [Abstract] |
Schedule of Components of Lease Expense | The components of lease expense during the three and nine months ended September 30, 2024 and 2023 are shown in the table below (in thousands):
| Three months ended September 30, |  | Nine months ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Operating lease expense | $ | 1,286 |  |  | $ | 304 |  |  | $ | 3,857 |  |  | $ | 810 |
Variable lease expense | 667 |  |  | 79 |  |  | 1,074 |  |  | 210 |
Short-term lease expense | 25 |  |  | 20 |  |  | 70 |  |  | 62 |
Total lease expense | $ | 1,978 |  |  | $ | 403 |  |  | $ | 5,001 |  |  | $ | 1,082 |
Other information about our operating leases during the nine months ended September 30, 2024 and 2023 are shown in the table below (amounts in thousands):
|  | Nine months ended September 30,
|  | 2024 |  | 2023
Cash paid for amounts included in the measurement of operating lease liabilities |  | $ | 843 |  |  | $ | 727 |
Right-of-use assets obtained in exchange for new operating lease liabilities |  | $ | — |  |  | $ | 5,241 |
Weighted-average remaining lease term |  | 13.7 years |  | 8.8 years
Weighted-average discount rate |  | 9.4 | % |  | 7.9 | %
Schedule of Future Maturing Operating Lease Payments | Future operating lease payments, net of tenant improvement allowance, as of September 30, 2024 are as follows (in thousands):
Year ending December 31: | Amount
Remainder of 2024 | $ | 471 |
2025 | 2,055 |
2026 | 3,929 |
2027 | 5,025 |
2028 | 5,185 |
2029 | 5,344 |
Thereafter | 48,439 |
Total lease payments, net of tenant improvement allowance | 70,448 |
Less - present value adjustments | (33,187) |
Total operating lease liabilities | $ | 37,261 |

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-4 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-6 + Details
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