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Leases (Tables)
12 Months Ended
Dec. 31, 2022
Leases  
Schedule of operating and finance lease right-of-use assets and related lease obligations

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December 31,

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December 31,

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Leases

Classification

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2022

    

2021

    

 

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Assets

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(in thousands)

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Operating leases

Operating lease assets

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$

12,146

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$

9,242

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Finance lease

Finance lease assets *

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17,942

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19,238

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Total leased assets

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$

30,088

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$

28,480

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Liabilities

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Current

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Operating

Other current liabilities

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$

5,367

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$

4,716

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Finance

Current portion of finance lease obligation

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1,229

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979

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Noncurrent

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Operating

Other long-term liabilities

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6,931

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4,357

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Finance

Finance lease obligation

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45,185

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46,415

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Total lease liabilities

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$

58,712

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$

56,467

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*Finance lease assets are recorded net of accumulated depreciation of $45.9 million and includes $0.6 million of prepaid financing costs as of December 31, 2022. Finance lease assets are recorded net of accumulated depreciation of $48.6 million and includes $0.7 million of prepaid financing costs as of December 31, 2021.
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Schedule of lease costs

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Year ended

 

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December 31,

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Lease cost

Classification

    

2022

    

2021

    

2020

 

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Operating lease cost

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(in thousands)

 

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Product / Services*

Cost of revenue

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$

5,427

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$

2,978

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$

2,402

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Research and development

Operating expenses

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322

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430

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491

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Sales and marketing*

Operating expenses

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1,526

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1,605

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1,389

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General and administrative*

Operating expenses

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1,065

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996

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877

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Total operating lease cost

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$

8,340

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$

6,009

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$

5,159

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Finance lease cost

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Depreciation of leased assets

Cost of revenue, R&D, Sales and marketing and G&A

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$

1,296

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$

1,306

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$

1,336

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Interest on lease liabilities

Interest expense

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4,992

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5,086

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5,211

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Total finance lease cost

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$

6,288

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$

6,392

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$

6,547

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Total lease cost

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$

14,628

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$

12,401

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$

11,706

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* Product / services, sales and marketing and general and administrative expense also includes short-term lease and variable lease costs of approximately $1.8 million, $1.9 million and $1.2 million for the twelve months ended December 31, 2022, 2021 and 2020, respectively.

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Schedule of future minimum operating and finance leases

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Finance

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Operating

    

Total

 

Maturity of Lease Liabilities

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Leases

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Leases

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Leases

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(in thousands)

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2023

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$

6,114

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$

6,588

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$

12,702

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2024

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6,252

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3,292

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9,544

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2025

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5,930

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2,172

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8,102

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2026

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6,008

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1,602

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7,610

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2027

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6,128

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799

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6,927

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Thereafter

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61,586

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13

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61,599

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Total lease payments

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$

92,018

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$

14,466

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$

106,484

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Less interest portion*

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(45,604)

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(2,168)

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(47,772)

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Finance lease and operating lease obligations

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$

46,414

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$

12,298

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$

58,712

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* Finance lease interest calculated using the implied interest rate; operating lease interest calculated using estimated corporate borrowing rate.

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Schedule of weighted-average remaining lease term and discount rates

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December 31,

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Lease term and discount rate

    

2022

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Weighted-average remaining lease term (years):

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Operating leases

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3.1

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Finance leases

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14.1

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Weighted-average discount rate:

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Operating leases

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4.5%

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Finance leases

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10.5%

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Schedule of cash outflows by lease type

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Year ended December 31,

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Cash paid for amounts included in the measurement of lease liabilities

    

2022

    

2021

    

2020

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(in thousands)

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Operating cash outflows from operating leases

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$

8,340

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$

6,009

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$

5,159

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Operating cash outflows from finance leases

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4,992

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5,086

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5,321

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Financing cash outflows from finance leases

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987

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763

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399

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Operating lease assets obtained in exchange for operating lease liabilities

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6,173

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8,670

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2,369

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Finance lease assets obtained in exchange for new finance lease liabilities

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