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LEASES | 6 Months Ended
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Jun. 30, 2023
Leases [Abstract] |
Lessee, Operating Leases | NOTE 7: LEASES The Company leases its office facilities under non-cancelable agreements that expire at various dates through November 2027. The Company has a lease agreement for offices in Israel which includes two extension options for five years each. The Company estimates that it is reasonably certain that it will exercise the option for the first extension period. Therefore, for the purposes of determining the amount of the expense and the value of the right of use asset and lease liability according to ASC 842, the Company determined that the lease term would end in November 2032. Components of operating lease expense were as follows:
|  | Three Months Ended June 30, 2023 |  | Three Months Ended June 30, 2022 |  | Six Months Ended June 30, 2023 |  | Six Months Ended June 30, 2022
Operating lease cost |  | $ | 726 |  |  | $ | 658 |  |  | $ | 1,488 |  |  | $ | 1,283 |
Short-term lease cost |  | — |  |  | 81 |  |  | 154 |  |  | 81 |
Variable lease cost |  | 20 |  |  | 6 |  |  | 29 |  |  | 18 |
Total |  | $ | 746 |  |  | $ | 745 |  |  | $ | 1,671 |  |  | $ | 1,382 |
Supplementary cash flow information related to operating leases was as follows:
|  | Three Months Ended June 30, 2023 |  | Three Months Ended June 30, 2022 |  | Six Months Ended June 30, 2023 |  | Six Months Ended June 30, 2022
Cash paid for operating leases |  | $ | 875 |  |  | $ | 876 |  |  | $ | 1,477 |  |  | $ | 1,343 |
As of June 30, 2023, the weighted-average discount rate is 4.56% and the weighted-average remaining term is 8.5. Maturities of the Company’s operating lease liabilities as of June 30, 2023 were as follows:
Year Ending December 31, |  |
2023 (Remainder) |  | 1,684 |
2024 |  | 3,018 |
2025 |  | 3,074 |
2026 |  | 3,136 |
2027 |  | 2,704 |
2028 |  | 2,324 |
2029 and thereafter |  | 8,908 |
Total operating lease payments |  | $ | 24,848 |
Less: imputed interest |  | 3,729 |
Total operating lease liabilities |  | $ | 21,119 |

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//842-20/tableOfContent + Details
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