Leases (Tables)

3 Months Ended

Mar. 31, 2024

The following table presents supplemental balance sheet information related to our financing and operating leases:


In thousands	As of March 31, 2024
	Operating Leases		Finance Leases		Total
Right-of-use Assets	$	24,308	$	199	$	24,507

Liabilities
Current portion of lease liabilities	4,466		53		4,519
Long-term lease liabilities	22,742		69		22,811
Total Lease Liabilities	$	27,208	$	122	$	27,330


In thousands	As of December 31, 2023
	Operating Leases		Finance Leases		Total
Right-of-use Assets	$	25,288	$	129	$	25,417

Liabilities
Short-term lease liabilities	4,773		42		4,815
Long-term lease liabilities	23,687		4		23,691
Total Lease Liabilities	$	28,460	$	46	$	28,506

Components of Lease Expense

For the three months ended March 31, 2024 and 2023, the components of lease expense were as follows:


In thousands	Three Months Ended March 31, 2024		Three Months Ended March 31, 2023
Operating lease cost	$	1,349	$	1,456

Finance lease cost:
Amortization of right-of-use assets	7		40
Interest on lease liabilities	1		2
Total Finance lease cost	8		42
Variable lease cost	447		502
Sublease income	(158)		(286)
Total lease cost, net	$	1,646	$	1,714

Other information related to leases was as follows:


In thousands	Three Months Ended March 31, 2024			Three Months Ended March 31, 2023
Supplemental Cash Flows Information

Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	2,821		$	3,341
Operating cash flows from finance leases	1			2
Financing cash flows from finance leases	17			47

Weighted Average Remaining Lease term
Operating leases	6.8			5.7
Finance leases	3.8			1.2

Weighted Average Discount Rate
Operating leases	5.68		%	3.67		%
Finance leases	8.06		%	5.87		%

Maturities of Finance and Operating Lease Liabilities

The maturities of the Company’s finance and operating lease liabilities as of March 31, 2024 are as follows:


In thousands	Operating Leases (1)		Finance Leases
Year Ending December 31,
Remainder of 2024	$	4,567	$	48
2025	4,638		26
2026	4,215		23
2027	4,188		22
2028	4,094		22
2029 and beyond	11,396		—
Total future minimum lease payments	33,098		141
Less: imputed interest	5,890		19
Total lease liabilities	$	27,208	$	122

(1)Non-cancelable sublease proceeds for the remainder of the fiscal year ending December 31, 2024 of $0.2 million, are not included in the table above.