LEASES (Tables)

3 Months Ended

Mar. 31, 2024

Leases [Abstract]

Summary of Operating Lease Cost and Supplemental Cash Flow Information Related to Operating Leases

The following table presents the Company’s operating lease cost and supplemental cash flow information related to the Company’s operating leases (in thousands):

	Three Months Ended March 31,
	2024		2023
Operating lease cost	$	1,103	$	1,221
Non-cash activity:
Right-of-use assets obtained in exchange for lease obligations	$	—	$	—

Schedule of Operating Lease Right of Use Assets and Liabilities

The following table presents the Company’s operating lease right-of-use assets and liabilities (in thousands):

	March 31, 2024		December 31, 2023
Right-of-use assets	$	23,998	$	24,910
Short-term lease liabilities		3,582		3,533
Long-term lease liabilities		21,945		22,855

Schedule of Weighted Average Assumptions Used to Compute Right-of-use Assets and Lease Liabilities

The following table presents weighted average assumptions used to compute the Company’s right-of-use assets and lease liabilities:

	March 31, 2024
Weighted average remaining lease term (in years)		6.5
Weighted average discount rate		3.7	%

Schedule of Undiscounted Future Minimum Lease Payments Having Non-cancelable Lease Terms

Undiscounted future minimum lease payments as of March 31, 2024, by year and in the aggregate, having non-cancelable lease terms in excess of one year were as follows (in thousands):

	Maturities of Operating Lease Liabilities
2024 (1)	$	3,210
2025		4,315
2026		4,395
2027		4,317
2028		4,026
Thereafter		8,052
Total lease payments		28,315
Less: Imputed interest		(2,788	)
Present value of lease payments	$	25,527

(1)Scheduled maturities of lease liabilities represent the period from April 1, 2024 to December 31, 2024.