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Commitments and Contingencies
 12 Months Ended
Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies
15. Commitments and Contingencies

Outstanding Litigation

The Company is at times subject to various legal proceedings arising in the ordinary course of business. As of December 31, 2023, the Company does not believe that any of its current legal proceedings, individually or in the aggregate, will have a material adverse effect on the Company’s operations, financial condition or cash flows.

Leases

As of December 31, 2023, the Company has entered into multi-year lease agreements for office space accounted for as non-cancelable operating leases. Total property lease expense on these leases for the years ended December 31, 2023, 2022, and 2021 amounted to $1.7 million. The leases are secured by cash deposits in the amount of $0.7 million.

As of December 31, 2023, obligations under non-cancelable operating leases are as follows (dollar amounts in thousands):

Year Ending December 31,Total
2024$1,548 
20251,604 
20261,617 
20271,471 
20281,226 
Thereafter781 
Total lease payments
$8,247 
Less: imputed interest
(1,145)
Present value of lease liabilities
$7,102