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Commitments, Contingencies, and Leases | 3 Months Ended
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Mar. 31, 2023
Commitments Contingencies And Leases [Abstract] |
Commitments, Contingencies, and Leases | 7. Commitments, contingencies, and leases Liabilities for loss contingencies arising from claims, assessments, litigation, fines, penalties, and other sources are recorded when it is probable that a liability has been incurred and that the amount can be reasonably estimated. Legal costs incurred in connection with loss contingencies are expensed as incurred. From time to time, we are subject to various claims that arise in the normal course of business. In the opinion of management, we are unaware of any pending or unasserted claims that would have a material adverse effect on our financial position, liquidity, or results. Certain executive officers are entitled to payments in the event of termination of employment in connection with a certain change in control. Our certificate of incorporation and certain contractual arrangements provide for indemnification of our officers and directors for certain events or occurrences. We maintain a directors and officers insurance policy to provide coverage in the event of a claim against an officer or director. Historically, we have not been obligated to make any payments for indemnification obligations, and no liabilities have been recorded for these obligations on the consolidated balance sheets as of March 31, 2023 or December 31, 2022. Leases We lease certain facilities under operating lease agreements that expire at various dates through 2028. Some of these arrangements contain renewal options and require us to pay taxes, insurance and maintenance costs. Renewal options were not included in the ROU asset and lease liability calculation. Operating and short-term rent expenses was $0.9 million and $1.4 million for the three months ended March 31, 2023 and 2022, respectively. Short-term rent expense was not material for any of the periods presented. 7. Commitments, contingencies, and leases (continued) Supplemental lease information
Cash flow information (in thousands) |  | Three months ended March 31, |
|  | 2023 |  |  | 2022 |
Cash paid for operating lease liabilities |  | $ | 901 |  |  | $ | 1,326 |
Right-of-use assets obtained in acquisition |  | $ | — |  |  | $ | — |
Operating lease information |  | Three months ended March 31, |
|  | 2023 |  |  | 2022 |
Weighted-average remaining lease-term |  | 4.1 years |  |  | 5.2 years |
Weighted-average discount rate |  |  | 5.38 | % |  |  | 5.41 | %
The future maturities of operating lease liabilities are as follows:
(in thousands) |  | March 31, 2023 |
2023 (April 1st through December 31st) |  |  | 2,306 |
2024 |  |  | 2,957 |
2025 |  |  | 2,775 |
2026 |  |  | 2,528 |
2027 |  |  | 2,133 |
Thereafter |  |  | 718 |
Total minimum lease payments |  | $ | 13,417 |
Less imputed interest |  |  | (1,548 | )
Total lease liabilities |  | $ | 11,869 |
Restructuring charges In December of 2022, we executed a plan to reduce our cost structure (the “2022 Restructure”). The 2022 Restructure included workforce reduction initiatives which resulted in $3.6 million of severance and other compensation charges to be paid in the first quarter of 2023. During the three months ended March 31, 2023, we had additional compensation charges of $0.4 million in relation to the 2022 Restructure. Furthermore, we have $0.2 million still accrued as of March 31, 2023, in connection with the 2022 Restructure. We do not expect any more material charges under this plan. The 2022 Restructure also included the decision to cease using certain leased office space in Texas and to make this office space available for sublease in January 2023. As a result, in 2022, we evaluated the recoverability of our right-of-use assets and determined the carrying values were not fully recoverable. We calculated the impairment by comparing the carrying amount of the asset group to its estimated fair value based on inputs derived from market prices for similar assets. As a result, we impaired $3.7 million in right-of-use assets and have recorded this amount in Restructuring Charges on the accompanying consolidated statements of operations for the previous year ended December 31, 2022. The impairment charge represents the amount by which the carrying value exceeded the estimated fair value of the asset group. These charges were recorded within the operating expenses on the accompanying consolidated statement of operations.

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