Leases (Tables)

6 Months Ended

Jun. 30, 2023

Leases

Schedule of operating and finance lease right-of-use assets and related lease obligations

		June 30,		December 31,
Leases	Classification	2023		2022
Assets		(in thousands)
Operating leases	Operating lease assets	$	31,998	$	12,146
Finance lease	Finance lease assets*		17,305		17,942
Total leased assets		$	49,303	$	30,088
Liabilities
Current
Operating	Other current liabilities	$	5,544	$	5,367
Finance	Current portion of finance lease obligation		1,367		1,229
Non-current
Operating	Other long-term liabilities		25,979		6,931
Finance	Finance lease obligation		44,455		45,185
Total lease liabilities		$	77,345	$	58,712
*Finance lease assets are recorded net of accumulated depreciation of $46.5 million and include $0.6 million of prepaid financing costs as of June 30, 2023. Finance lease assets are recorded net of accumulated depreciation of $45.9 million and include $0.6 million of prepaid financing costs as of December 31, 2022. ​

Schedule of lease costs

		Three months ended				Six months ended
		June 30,				June 30,
Lease cost	Classification	2023		2022		2023		2022
Operating lease cost		(in thousands)
Product / services*	Cost of revenue	$	1,821	$	1,306	$	3,287	$	2,516
Research and development	Operating expenses		137		76		243		132
Sales and marketing*	Operating expenses		417		368		813		787
General and administrative*	Operating expenses		239		308		515		520
Total operating lease cost		$	2,614	$	2,058	$	4,858	$	3,955
Finance lease cost
Depreciation of leased assets	Cost of revenue, R&D, Sales and marketing and G&A	$	318	$	325	$	637	$	648
Interest on lease liabilities	Interest expense		1,223		1,274		2,454		2,532
Total finance lease cost		$	1,541	$	1,599	$	3,091	$	3,180
Total lease cost		$	4,155	$	3,657	$	7,949	$	7,135
* Product / services, sales and marketing and general and administrative expense also includes short-term lease and variable lease costs of approximately $0.5 million and $1.0 million for the three and six months ended June 30, 2023, respectively, and includes short-term lease and variable lease costs of approximately $0.6 million and $1.0 million for the three and six months ended June 30, 2022, respectively.

Schedule of future minimum operating and finance leases

	Finance		Operating		Total
Maturity of Lease Liabilities	Leases		Leases		Leases
	(in thousands)
2023	$	3,063	$	4,335	$	7,398
2024		6,252		5,766		12,018
2025		5,930		4,308		10,238
2026		6,008		3,247		9,255
2027		6,128		2,411		8,539
Thereafter		61,586		25,080		86,666
Total lease payments	$	88,967	$	45,147	$	134,114
Less interest portion*		(43,145)		(13,624)		(56,769)
Finance lease and operating lease obligations	$	45,822	$	31,523	$	77,345
* Finance lease interest calculated using the implied interest rate; operating lease interest calculated using estimated corporate borrowing rate.

Schedule of weighted-average remaining lease term and discount rates

	June 30,
Lease term and discount rate	2023
Weighted-average remaining lease term (years):
Operating leases		11.7
Finance leases		13.6
Weighted-average discount rate:
Operating leases		5.4%
Finance leases		10.5%

Schedule of cash outflows by lease type

	Six months ended June 30,
Cash paid for amounts included in the measurement of lease liabilities	2023		2022
	(in thousands)
Operating cash outflows from operating leases	$	4,858	$	3,955
Operating cash outflows from finance leases		2,454		2,509
Financing cash outflows from finance leases		598		475
Operating lease assets obtained in exchange for operating lease liabilities		23,289		4,714
Finance lease assets obtained in exchange for new finance lease liabilities		—		—