Leases (Tables)

9 Months Ended

Sep. 30, 2023

Leases

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

		September 30,		December 31,
Leases	Classification	2023		2022
Assets		(in thousands)
Operating leases	Operating lease assets	$	31,082	$	12,146
Finance lease	Finance lease assets*		16,981		17,942
Total leased assets		$	48,063	$	30,088
Liabilities
Current
Operating	Other current liabilities	$	5,001	$	5,367
Finance	Current portion of finance lease obligation		1,438		1,229
Non-current
Operating	Other long-term liabilities		25,850		6,931
Finance	Finance lease obligation		44,070		45,185
Total lease liabilities		$	76,359	$	58,712
*Finance lease assets are recorded net of accumulated depreciation of $46.7 million and include $0.6 million of prepaid financing costs as of September 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				Nine months ended
		September 30,				September 30,
Lease cost	Classification	2023		2022		2023		2022
Operating lease cost		(in thousands)
Product / services*	Cost of revenue	$	2,041	$	1,462	$	5,328	$	3,978
Research and development	Operating expenses		183		54		426		186
Sales and marketing*	Operating expenses		419		369		1,231		1,155
General and administrative*	Operating expenses		298		253		813		773
Total operating lease cost		$	2,941	$	2,138	$	7,798	$	6,092
Finance lease cost
Depreciation of leased assets	Cost of revenue, Research and development, Sales and marketing and General and administrative	$	324	$	325	$	961	$	973
Interest on lease liabilities	Interest expense		1,214		1,245		3,668		3,754
Total finance lease cost		$	1,538	$	1,570	$	4,629	$	4,727
Total lease cost		$	4,479	$	3,708	$	12,427	$	10,819
* Product / services, sales and marketing and general and administrative expense also includes short-term lease and variable lease costs of approximately $0.6 million and $1.6 million for the three and nine months ended September 30, 2023, respectively, and includes short-term lease and variable lease costs of approximately $0.4 million and $1.4 million for the three and nine months ended September 30, 2022, respectively.

Schedule of future minimum operating and finance leases

	Finance		Operating		Total
Maturity of Lease Liabilities	Leases		Leases		Leases
	(in thousands)
2023	$	1,531	$	2,117	$	3,648
2024		6,252		6,248		12,500
2025		5,930		4,761		10,691
2026		6,008		3,471		9,479
2027		6,128		2,502		8,630
Thereafter		61,586		25,123		86,709
Total lease payments	$	87,435	$	44,222	$	131,657
Less interest portion*		(41,927)		(13,371)		(55,298)
Finance lease and operating lease obligations	$	45,508	$	30,851	$	76,359
* 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

	September 30,
Lease term and discount rate	2023
Weighted-average remaining lease term (years):
Operating leases		11.6
Finance leases		13.3
Weighted-average discount rate:
Operating leases		5.5%
Finance leases		10.5%

Schedule of cash outflows by lease type

	Nine months ended September 30,
Cash paid for amounts included in the measurement of lease liabilities	2023		2022
	(in thousands)
Operating cash outflows from operating leases	$	7,798	$	6,092
Operating cash outflows from finance leases		3,668		3,754
Financing cash outflows from finance leases		915		728
Operating lease assets obtained in exchange for operating lease liabilities		25,697		5,494
Finance lease assets obtained in exchange for new finance lease liabilities		—		—