v3.20.2
Leases
9 Months Ended
Sep. 30, 2020
Leases [Abstract]  
Leases Leases
The Company leases facilities under non-cancellable operating leases primarily in the United States, South Africa, the United Kingdom and Canada. The Company’s operating leases have remaining lease terms of between less than one to 11 years, some of which include options to extend the leases for up to five years, and some of which include options to terminate the leases within one year. These options to extend the terms of the Company’s operating leases were not deemed to be reasonably certain of exercise as of lease commencement and are therefore not included in the determination of their respective non-cancellable lease terms. The future lease payments due under non-cancellable operating lease arrangements contain fixed rent increases over the term of the lease. The Company also leases office equipment under non-cancellable leases. The Company did not have any subleases as of September 30, 2020.
The following table presents the components of lease expense on the Company’s condensed consolidated statements of operations and comprehensive loss for each of the periods indicated.
Three Months Ended
September 30,
Nine Months Ended
September 30,
2020201920202019
(in thousands)
Operating lease expense$3,848 $3,053 $11,189 $8,389 
Short-term lease expense50 188 284 578 
Variable lease expense1,603 1,031 4,274 3,036 
Total lease expense$5,501 $4,272 $15,747 $12,003 
As of September 30, 2020, for the Company’s operating leases, the weighted-average remaining lease term was 7.4 years and the weighted-average discount rate was 11.7%. For the nine months ended September 30, 2020 and 2019, cash paid for amounts included in the measurement of operating lease liabilities was $12.7 million and $9.6 million, respectively.
The following table presents the maturities of the Company’s operating lease liabilities as of the date indicated.
September 30, 2020
(in thousands)
Remainder of 2020$4,615 
202118,155 
202217,322 
202317,060 
202416,571 
Thereafter54,752 
Total lease payments128,475 
Less: imputed interest(43,669)
Total lease liability$84,806 
As of September 30, 2020, the Company has additional operating leases for facilities that have not yet commenced with future minimum lease payments of approximately $60.2 million. These operating leases will commence during fiscal years 2020 through 2021, with lease terms of between nine to 12 years.