Leases

9 Months Ended

Sep. 30, 2023

Leases [Abstract]

Leases

18.Leases

The Company has operating and finance leases for office space, equipment and vehicles.

Leases recorded on the balance sheet consists of the following:

	September 30,		December 31,
Leases	2023		2022
Assets
Operating lease right-of-use assets, net (1)	$	27,374	$	14,978
Financing lease right-of-use assets, net (2)		20,601		15,839
Total assets	$	47,975	$	30,817
Liabilities
Current
Operating	$	9,089	$	4,738
Financing		6,342		4,031
Total current		15,431		8,769
Noncurrent
Operating		18,406		11,018
Financing		12,920		11,102
Total noncurrent		31,326		22,120
Total liabilities	$	46,757	$	30,889

(1) Operating lease right-of-use assets are recorded net of accumulated amortization of $13.3 million and $10.5 million as of September 30, 2023 and December 31, 2022, respectively.

(2) Financing lease right-of-use assets are recorded net of accumulated amortization of $7.5 million and $5.1 million as of September 30, 2023 and December 31, 2022, respectively.

Other information related to lease term and discount rate is as follows:

	September 30,		December 31,
	2023		2022
Weighted Average Remaining Lease Term (in years)
Operating leases	5.88		3.90
Financing leases	3.15		4.36
Weighted Average Discount Rate
Operating leases	9.20	%	4.86	%
Financing leases	5.38	%	5.62	%

The components of lease expense are as follows:

	Three months ended September 30,				Nine months ended September 30,
	2023		2022		2023		2022
Operating lease costs:
Operating lease cost	$	2,497	$	1,279	$	5,440	$	3,683
Short-term lease cost (1)		424		416		1,565		1,034
Financing lease costs:
Interest on lease liabilities		262		216		651		566
Amortization of right-of-use assets		1,533		845		3,008		2,391
Total lease cost	$	4,716	$	2,756	$	10,664	$	7,674

(1) Includes expenses related to leases with a lease term of more than one month but less than one year.

Supplemental cash flow information related to leases is as follows:

	Nine months ended September 30,
	2023		2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	5,604	$	3,646
Operating cash flows for finance leases	$	651	$	566
Financing cash flows for finance leases	$	2,524	$	2,235
Non-cash activity:
ROU assets obtained in exchange for new operating lease liabilities	$	17,525	$	5,878
ROU assets obtained in exchange for new financing lease liabilities	$	11,533	$	8,790

Maturities of lease liabilities are summarized as follows:

	Operating Leases		Finance Leases
Year ending December 31,
2023 (excluding the nine months ended September 30, 2023)	$	2,751	$	1,921
2024		10,717		7,490
2025		8,009		6,495
2026		2,768		1,966
2027		2,353		1,529
Thereafter		13,059		1,583
Total future minimum lease payments		39,657		20,984
Less - amount representing interest		12,162		1,722
Present value of future minimum lease payments		27,495		19,262
Less - current lease obligations		9,089		6,342
Long-term lease obligations	$	18,406	$	12,920