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Leases (Tables) | 3 Months Ended
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Mar. 31, 2024
Leases [Abstract] |
Lease, Cost | Lease expense is included in office and technology expenses in the unaudited Consolidated Statements of Operations. Information regarding the Company’s leases follows:
| Three Months Ended March 31,
(in thousands) | 2024 | 2023
Operating leases | $ | 658 |  | $ | 731 |
Finance leases: |  |
Amortization of lease assets | 71 |  | 54 |
Lease expense | $ | 729 |  | $ | 785 |
Sub-lease income | (52) |  | — |
Lease cost | $ | 677 |  | $ | 785 |
(b) |  | Leases with an initial term of twelve months or less are not recorded on the unaudited Consolidated Balance Sheets.
Lessee, Lease Liability, Current and Non-current | Components of the lease liability presented on the unaudited Consolidated Balance Sheets are as follows:
(in thousands) | As of March 31, 2024 | As of December 31, 2023
Current: |  |
Operating lease liabilities | $ | 1,755 |  | $ | 2,201 |
Finance lease liabilities | 177 |  | 170 |
Non-current: |  |
Operating lease liabilities | 4,299 |  | 3,792 |
Finance lease liabilities | 597 |  | 286 |
Total lease liabilities | $ | 6,828 |  | $ | 6,449 |
Lessee, Lease Liability, Maturity | The future minimum lease payments for leases that have initial or remaining noncancelable lease terms in excess of one year as of March 31, 2024, are summarized as follows:
Year Ended (in thousands) | Operating Leases | Finance Leases | Total
2024 | $ | 1,904 |  | $ | 199 |  | $ | 2,103 |
2025 | 2,179 |  | 241 |  | 2,420 |
2026 | 1,332 |  | 203 |  | 1,535 |
2027 | 424 |  | 136 |  | 560 |
2028 | 183 |  | 56 |  | 239 |
Thereafter | 433 |  | — |  | 433 |
Total undiscounted payments | $ | 6,455 |  | $ | 835 |  | $ | 7,290 |
Less: present value adjustment | (401) |  | (61) |  | (462) |
Lease liabilities | $ | 6,054 |  | $ | 774 |  | $ | 6,828 |
Lease Other Information | Supplemental lease information is as follows:
| As of March 31, 2024 | As of December 31, 2023
Weighted average remaining lease term (years) |  |
Operating Leases | 3.34 | 3.07
Finance Leases | 3.49 | 2.93
Weighted average discount rate |  |
Operating Leases | 3.9 | % | 3.8 | %
Finance Leases | 4.3 | % | 3.7 | %

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- Definition Operating Lease Other Information [Table Text Block] + References No definition available. + Details
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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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