Leases

3 Months Ended

Mar. 31, 2024

Leases [Abstract]

Leases

6. Leases

The Company has operating leases primarily for office space. The leases have remaining lease terms of one to eight years, some of which include options to extend the lease for up to an additional six years. The Company's leases do not contain any residual value guarantee.

The following table presents various components of the lease costs (in thousands):

Operating Leases	Three Months Ended March 31,
	2024		2023
Operating lease cost	$	2,731	$	2,494
Short-term lease cost	101		174
Variable lease cost	911		785

The weighted-average remaining term of the Company's operating leases and the weighted-average discount rate used to measure the present value of the operating lease liabilities are as follows:

Lease Term and Discount Rate	March 31, 2024		March 31, 2023
Weighted-average remaining lease term (in years)	5.2		4.6
Weighted-average discount rate	9.5	%	7.8	%

The following table presents supplemental information arising from lease transactions. Cash payments related to short-term leases are not included in the measurement of the operating lease liabilities, and as such, are excluded from the amounts below (in thousands):

	Three Months Ended March 31,
Supplemental Cash Flow Information:	2024		2023
Cash payments included in the measurement of operating lease liabilities	$	3,503	$	2,326
Operating right-of-use ("ROU") assets obtained in exchange for lease obligations	311		—

As of March 31, 2024, maturities of the operating lease liabilities are as follows (in thousands):

	Operating Leases
Remainder of 2024	$	1,277
2025	9,712
2026	6,863
2027	5,658
2028	4,954
Thereafter	7,201
Total lease payments	35,665
Less: imputed interest	(9,330)
Present value of operating lease liabilities	$	26,335

As of March 31, 2024, there were no material future payments related to signed leases that have not yet commenced