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Commitments and Contingencies (Tables)
3 Months Ended
Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
Summary of Operating Lease Expense

Our lease expense comprises of the following (in thousands):

 

 

 

Three Months Ended March 31,

 

 

 

2024

 

 

2023

 

Operating lease expense

 

$

1,416

 

 

$

1,388

 

Summary of Balance Sheet Classification of Operating Lease Liabilities

The balance sheet classification of our operating lease liabilities was as follows (in thousands):

 

 

 

March 31, 2024

 

 

December 31, 2023

 

Operating lease liabilities:

 

 

 

 

 

 

Current portion of lease liabilities (included in other current liabilities)

 

$

4,557

 

 

$

4,496

 

Long-term portion of lease liabilities

 

 

28,559

 

 

 

29,720

 

Total operating lease liabilities

 

$

33,116

 

 

$

34,216

 

Summary of Maturities of Sublease Income and Operating Lease Liabilities

As of March 31, 2024, the maturities of our sublease income and operating lease liabilities were as follows (in thousands):

 

Years ending December 31,

 

Sublease Income

 

 

Operating Lease
Liabilities

 

2024 (remaining)

 

$

3,700

 

 

$

5,716

 

2025

 

 

6,127

 

 

 

6,966

 

2026

 

 

6,342

 

 

 

6,107

 

2027

 

 

6,564

 

 

 

6,038

 

2028

 

 

6,794

 

 

 

6,201

 

Thereafter

 

 

16,191

 

 

 

15,021

 

Total

 

$

45,718

 

 

 

46,049

 

Less:

 

 

 

 

 

 

Present value adjustment

 

 

 

 

 

(12,933

)

Total

 

 

 

 

$

33,116

 

Summary of Weighted Average Remaining Lease Term and Weighted Average Discount Rate

The weighted average remaining lease term and the weighted average discount rate used to determine the operating lease liabilities were as follows:

 

 

 

March 31, 2024

 

 

December 31, 2023

 

Weighted average remaining lease term

 

6.5 years

 

 

6.7 years

 

Weighted average discount rate

 

 

10.1

%

 

 

10.1

%