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LEASES

12 Months Ended

Dec. 31, 2023

14. LEASES

We have operating leases for warehouses, office space, and data centers. Our leases have remaining lease terms of one year to four years, some of which may include options to extend the leases perpetually, and some of which may include options to terminate the leases within one year. Variable lease costs include executory costs, such as taxes, insurance, and maintenance.

The components of lease expense were as follows (in thousands):


	Years ended December 31,
	2023		2022		2021
Operating lease cost	$	5,257	$	5,975	$	6,583

Variable lease cost	1,300		1,489		1,702

The following tables provides a summary of other information related to leases (in thousands):


	Years ended December 31,
	2023		2022		2021
Cash payments included in operating cash flows from lease arrangements	$	5,500	$	6,237	$	6,478
Right-of-use assets obtained in exchange for new operating lease liabilities	836		437		835
Derecognition of right-of-use assets due to reassessment of lease term	91		257		527

The following table provides a summary of balance sheet information related to leases:


	December 31,
	2023		2022
Weighted-average remaining lease term—operating leases	1.57 years		2.04 years
Weighted-average discount rate—operating leases	7	%	7	%

Maturity of lease liabilities under our non-cancellable operating leases as of December 31, 2023, are as follows (in thousands):


Payments due by period
2024	$	2,986
2025	689
2026	250
2027	83
2028	—
Thereafter	—
Total lease payments	4,008
Less interest	254
Present value of lease liabilities	$	3,754