XML 74 R31.htm IDEA: XBRL DOCUMENT v3.23.1
Operating Leases (Tables)
12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
Components of Lease Expense

The components of lease expense were as follows (in thousands):

 

 

 

Year Ended December 31,

 

 

 

2022

 

 

2021

 

Lease cost

 

 

 

 

 

 

Operating lease cost

 

$

1,978

 

 

$

650

 

Short-term lease cost

 

 

1,681

 

 

 

5

 

Variable lease cost

 

 

121

 

 

 

75

 

Total lease cost

 

$

3,780

 

 

$

730

 

Other information

 

 

 

 

 

 

Operating lease right-of-use asset obtained in exchange for new operating
   lease liabilities

 

$

14,497

 

 

$

 

Cash paid for amounts included in the measurement of lease liabilities, included
   in operating cash flows

 

 

 

 

$

663

 

Weighted-average remaining lease term (in years)

 

 

10.00

 

 

 

0.25

 

Weighted-average discount rate

 

 

9.40

%

 

 

10.00

%

 

Variable lease costs primarily relate to common area costs and other operating costs, which are assessed based on the Company’s proportionate share of such costs for the leased premises. Total lease costs are included as operating expenses in the Company’s consolidated statements of operations and comprehensive loss.

Maturities of Lease Liabilities

Maturities of lease liabilities as of December 31, 2022, were as follows (in thousands):

 

Years Ending December 31,

 

Operating Leases

 

2023

 

$

2,557

 

2024

 

 

3,208

 

2025

 

 

3,302

 

2026

 

 

3,399

 

2027

 

 

3,499

 

Thereafter

 

 

18,750

 

Total undiscounted payments

 

 

34,715

 

Less: tenant improvement allowance

 

 

(3,026

)

Less: present value adjustment

 

 

(12,768

)

Present value of future payments

 

 

18,921

 

Less: current portion of operating lease liabilities

 

 

 

Operating lease liabilities, net of current portion

 

$

18,921