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BORROWINGS
 9 Months Ended
Sep. 30, 2022
Debt Disclosure [Abstract]  
BORROWINGS BORROWINGS
Vendor financing arrangements—The Company has various vendor financing arrangements with extended payment terms on the purchase of software licenses and equipment. In order to determine the present value of the commitments, the Company used an imputed interest rate of 7.5%, which is reflective of its collateralized borrowing rate with similar terms to that of the software licenses and equipment transactions.
Vendor financing arrangements as of September 30, 2022 were as follows (in thousands):
Fiscal year ending December 31,
Amount
Remainder of 2022
$402 
20231,100 
2024556 
Total undiscounted cash flows$2,058 
Less: imputed interest(123)
Present value of vendor financing arrangements$1,935 
Vendor financing arrangements, current$1,502 
Vendor financing arrangements, noncurrent433 
$1,935 
Interest expense was less than $0.1 million for both the three months ended September 30, 2022 and 2021. Interest expense was $0.1 million for both the nine months ended September 30, 2022 and 2021.