Leases

9 Months Ended

Sep. 30, 2024

6. LEASES

We have operating leases primarily consisting of office and lab space, machinery and equipment and vehicles. We entered into a sublease agreement that commenced on July 1, 2023, for existing office and lab space in Calgary, Alberta, Canada. See Note 13 - Other (income) and expense, net regarding lease abandonments during the nine months ended September 30, 2024 and 2023.

The components of lease expense and other information are as follows (in thousands):


	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2024			2023			2024			2023
Consolidated Statements of Operations:
Operating lease expense	$	4,296		$	4,612		$	12,942		$	13,282
Short-term lease expense		393			463			1,230			1,354
Variable lease expense		212			408			1,032			1,449
Sublease income		(56	)		(57	)		(169	)		(57	)
Total lease expense	$	4,845		$	5,426		$	15,035		$	16,028
Consolidated Statements of Cash Flows:
Operating cash flows - operating leases payments	$	3,882		$	3,961		$	12,791		$	12,711
Right of use assets obtained in exchange for operating lease obligations	$	3,647		$	2,054		$	10,606		$	12,459
Other information:
Weighted-average remaining lease term - operating leases	8.4 years			8.2 years			8.4 years			8.2 years
Weighted-average discount rate - operating leases		5.41	%		5.29	%		5.41	%		5.29	%

Scheduled undiscounted lease payments for non-cancellable operating leases consist of the following (in thousands):


	September 30, 2024
	Operating Leases			Operating Subleases
Remainder of 2024	$	3,798		$	(57	)
2025		12,985			(231	)
2026		10,178			(236	)
2027		8,082			(241	)
2028		6,420			(163	)
Thereafter		27,485			—
Total undiscounted lease payments		68,948		$	(928	)
Less: Imputed interest		(13,786	)
Total operating lease liabilities	$	55,162