Leases (Tables)

6 Months Ended

Jun. 30, 2024

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


In thousands	As of June 30, 2024						As of December 31, 2023
	Operating Leases		Finance Leases		Total		Operating Leases		Finance Leases		Total
Right-of-use Assets	$	23,332	$	564	$	23,896	$	25,288	$	129	$	25,417

Liabilities
Current portion of lease liabilities	4,027		107		4,134		4,773		42		4,815
Long-term lease liabilities	21,914		377		22,291		23,687		4		23,691
Total Lease Liabilities	$	25,941	$	484	$	26,425	$	28,460	$	46	$	28,506

Components of Lease Expense

For the three and six months ended June 30, 2024 and 2023, the components of lease expense were as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
In thousands	2024		2023		2024		2023
Operating lease cost	$	1,333	$	1,366	$	2,682	$	2,822

Finance lease cost:
Amortization of right-of-use assets	24		40		31		80
Interest on lease liabilities	7		2		8		4
Total Finance lease cost	31		42		39		84
Variable lease cost	584		486		1,031		988
Sublease income	(157)		(213)		(315)		(499)
Total lease cost, net	$	1,791	$	1,681	$	3,437	$	3,395

Other information related to leases was as follows:


In thousands	Six Months Ended June 30, 2024			Six Months Ended June 30, 2023
Supplemental Cash Flows Information

Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	5,637		$	6,453
Operating cash flows from finance leases	7			4
Financing cash flows from finance leases	45			95

Weighted Average Remaining Lease term
Operating leases	6.7			5.6
Finance leases	4.6			1.2

Weighted Average Discount Rate
Operating leases	5.71		%	3.63		%
Finance leases	8.15		%	6.21		%

Maturities of Finance and Operating Lease Liabilities

The maturities of the Company’s finance and operating lease liabilities as of June 30, 2024 are as follows:


In thousands	Operating Leases (1)		Finance Leases
Year Ending December 31,
Remainder of 2024	$	2,967	$	77
2025	4,618		120
2026	4,211		117
2027	4,187		117
2028	4,094		117
2029 and beyond	11,397		31
Total future minimum lease payments	31,474		579
Less: imputed interest	5,533		95
Total lease liabilities	$	25,941	$	484

(1)Non-cancelable sublease proceeds for the remainder of the fiscal year ending December 31, 2024 of $0.1 million, are not included in the table above.