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Leases
12 Months Ended
Dec. 31, 2023
Leases [Abstract]  
Leases . Leases

Operating and Finance Leases

The Company's primary operating lease is for space at a data center which was renewed in April 2022 and expires in 2025. In April 2023, the Company finalized exercising an option to decrease the space at the data center under the operating lease. As a result, the Company remeasured its lease liability and adjusted its ROU assets by $565, respectively, during 2023.

The Company evaluates new contractual arrangements at inception to determine if the contract is or contains a lease. For any contracts that are or contain a lease, the Company determines the appropriate classification of each identified lease as operating or finance. For all identified leases, the Company records the related lease liabilities and ROU assets based on the future minimum lease payments over the lease term, which only includes options to renew the lease if it is reasonably certain that the Company will exercise that option. For leases with original terms of twelve months or less, the Company recognizes the lease expense as incurred and does not recognize lease liabilities and ROU assets.

Lease liabilities are measured based on the future minimum lease payments discounted over the lease term. The Company uses the discount rate implicit in the lease whenever that rate is readily determinable. For leases where no such rate is determinable, the Company uses its incremental borrowing rate, or the rate of interest that Company would have to pay to borrow an amount equal to the lease payments on a collateralized basis over a similar term and in a similar economic environment. As of December 31, 2023, the weighted-average rate used in discounting the lease liabilities for ROU operating leases was 6.0%. Current and non-current operating lease liabilities are presented on the condensed consolidated balance sheet.

Operating lease costs, consisting primarily of rental expense, were approximately $1,842 and $3,654 for the years ended December 31, 2023 and 2022, respectively. Variable rent expense was not material for the years ended December 31, 2023 or 2022.

The maturities of operating lease liabilities as of December 31, 2023 are as follows:

 

 

Operating Leases

 

2024

 

$

1,584

 

2025

 

 

396

 

Total lease payments

 

 

1,980

 

Less: Amount representing imputed interest

 

 

(68

)

Present value of lease liabilities

 

 

1,912

 

Less: Current portion of lease liabilities

 

 

(1,518

)

Non-current portion of lease liabilities

 

$

394

 

 

Supplemental cash flow information related to operating leases was as follows:

 

 

Years Ended December 31,

 

 

 

2023

 

 

2022

 

Cash paid for amounts included in the measurement of lease liabilities:

 

 

 

 

 

 

Operating cash flows from operating leases

 

$

1,842

 

 

$

3,974

 

ROU assets obtained in exchange for lease liabilities:

 

$

161

 

 

$

5,015

 

Subleases

The Company sublet portions of its San Francisco office space under an agreement that expired in July 2022. Income from this sublease agreement was included in other income, net, on the accompanying consolidated statements of comprehensive loss. Sublease income for the year ended December 31, 2022 was $587.