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LEASES
 3 Months Ended
Mar. 31, 2024
Leases [Abstract]  
LEASES LEASES
Operating Leases
The Company has operating leases for office and warehouse space and certain equipment. In certain of the Company’s lease agreements, the rental payments are adjusted periodically based on defined terms within the lease. The Company did not have any finance leases as of March 31, 2024 and 2023, respectively, or for the three-month periods then ended, respectively.
Our leases relating to office and warehouse space have lease terms of 65 months to 102 months. Our leases relating to equipment have lease terms of 36 months, with certain of them having automatic renewal clauses.
The Company’s warehouse agreements also contain non-lease components, in the form of payments towards variable logistics services and labor charges, which the Company is obligated to pay based on the services consumed by it. Such amounts are not included in the measurement of the lease liability but are recognized as expenses when they are incurred.
The operating lease expense was $1.2 million and $1.5 million for the three months ended March 31, 2024 and 2023, respectively.
Supplemental cash flow information related to the Company’s operating leases was as follows (in thousands):
Three months ended March 31,
20242023
Cash paid for amounts included in the measurements of lease liabilities
Operating cash flow used in operating leases$1,563 $1,804 
Right-of-use assets obtained in exchange for lease obligations
Operating leases$— $— 
As of March 31, 2024, the weighted average remaining lease term was 3 years, 7 months and the weighted average discount rate was 2.30%.
The following table presents the maturity of the Company’s operating lease liabilities as of March 31, 2024 (in thousands):
2024 (excluding the three months ended March 31, 2024)
$4,749 
20256,462 
20264,783 
20272,553 
20282,618 
Thereafter240 
Total lease payments$21,405 
Less: imputed interest(836)
Total $20,569