Leases

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Leases

Leases

The Company has operating leases primarily related to the Company's principal executive office, automobile leases and other IT related equipment. The lease for the principal executive office has a lease term of 5 years from November 1, 2023, and the automobile leases and IT equipment leases primarily have a term of 3 years. During the years ended December 31, 2023 and December 31, 2022, the Company recognized $1.0 million and $1.3 million, respectively, of operating lease costs, recognized on the statements of operations and comprehensive loss, and paid cash for the amounts included in the measurement of lease liabilities of $1.0 million and $1.2 million, respectively, which were included in operating cash flows on the statements of cash flows. At December 31, 2023 and December 31, 2022, the weighted-average remaining lease term of operating leases was 2.9 years and 4.7 years, respectively, and the weighted average discount rate was 7.5% and 7.7%, respectively. There was $4.5 million and $0.6 million in right-of-use assets obtained in exchange for lease obligations for the twelve months ended

December 31, 2023 and December 31, 2022, respectively. The Company had 45 additional operating and finance leases that had not yet commenced as of December 31, 2023, mainly associated with increased headcount for the Company's sales force.

The following table summarizes the Company's future maturities of operating lease liabilities as of December 31, 2023:

	(in thousands)
2024	$	1,838
2025	1,811
2026	1,140
2027	169
2028	144
Total lease payments	5,102
Less imputed interest	(529)
Total	$	4,573

The following table summarizes supplemental balance sheet information related to leases as of December 31, 2023:

Operating Leases	(in thousands)
Total right of use operating lease assets	$	4,675
Operating lease liabilities (short-term)	$	(1,553)
Operating lease liabilities (long-term)	(3,020)
Total lease obligations under operating leases	$	(4,573)