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Leases
 6 Months Ended
Jun. 30, 2023
Leases [Abstract]  
Leases
Note 6. Leases
The Company leases office space under non-cancellable operating leases. In January 2021, the Company commenced a lease in San Jose, California. The lease expires in February 2028. The Company is obligated to pay
approximately $11 million over the term of the lease. Prior to December 31, 2021, the Company modified two minor leases to extend access until April 2022 to aid the full transition to the San Jose facility. The Company had one additional minor lease that expired in November 2022.
The components of operating lease expense were as follows:
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)2023202220232022
Operating lease cost$368 $404 $735 $844 
Variable lease expense136 141 259 291 
Total lease expense$504 $545 $994 $1,135 
Variable lease expense consists of the Company’s proportionate share of operating expenses, property taxes, and insurance.
As of June 30, 2023, the weighted-average remaining lease term was 4.7 years and the weighted-average discount rate was 5.6%.
As of June 30, 2023, the maturities of the Company’s operating lease liabilities were as follows:
(in thousands)
Remainder of 2023$767 
20241,580 
20251,627 
20261,674 
20271,729 
Thereafter297 
Total lease payments7,674 
Less: Imputed interest(958)
Present value of lease liabilities$6,716