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Leases (Tables)
12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
Schedule of Cost Components of Operating Lease

The cost components of the operating leases were as follows for the years ended December 31, 2022, 2021 and 2020:

 

 

 

Year Ended December 31,

 

 

 

2022

 

2021

 

2020

 

Lease Cost

 

 

 

 

 

 

 

Operating lease expense

 

$

1,126

 

$

591

 

$

536

 

Variable lease expense(1)

 

 

774

 

 

751

 

 

549

 

Lease Term and Discount Rate

 

 

 

 

 

 

 

Weighted average remaining lease term (years)

 

 

8.07

 

 

10.50

 

 

6.50

 

Weighted average discount rate

 

 

3.97

%

 

3.42

%

 

2.45

%

(1)
Variable lease costs are payments that vary because of changes in facts or circumstances and include common area maintenance and property taxes related to the premises. Variable lease costs are excluded from the calculation of minimum lease payments.
Future Minimum Lease Payments Future minimum lease payments as of December 31, 2022 were as follows:

 

Year ending December 31:

 

 

 

2023

 

$

1,622

 

2024

 

 

1,677

 

2025

 

 

1,745

 

2026

 

 

1,813

 

2027

 

 

1,800

 

2028 and thereafter

 

 

5,286

 

Total future minimum lease payments

 

$

13,943

 

Less: imputed interest

 

 

(2,037

)

Less: future lease incentives reasonably certain of use(1)

 

 

(1,471

)

Present value of lease liabilities

 

$

10,435

 

(1)
Lease incentives are expected to be utilized within 12 months.