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Leases (Tables)
12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
Schedule of Information Related to ROU Assets and Lease Liabilities

Information related to our ROU assets and related lease liabilities was as follows (dollar amounts in thousands):

 

 

 

December 31,

 

 

December 31,

 

 

 

2022

 

 

2021

 

Cash paid for operating lease liabilities

 

$

5,374

 

 

$

924

 

Operating lease right-of-use assets

 

$

21,288

 

 

$

27,958

 

 

 

 

 

 

 

 

Current operating lease liabilities

 

$

5,910

 

 

$

5,276

 

Non-current operating lease liabilities

 

 

12,031

 

 

 

11,507

 

Total lease liabilities

 

$

17,941

 

 

$

16,783

 

Weighted-average remaining lease term (in years)

 

 

2.78

 

 

 

3.75

 

Weighted-average discount rate

 

 

7.6

%

 

 

7.5

%

Schedule of Maturities of Lease Liabilities

Maturities of lease liabilities as of December 31, 2022 were as follows:

 

Years ending December 31,

 

(in thousands)

 

2023

 

$

6,684

 

2024

 

 

6,850

 

2025

 

 

7,022

 

Thereafter

 

 

 

Total future undiscounted lease payments

 

 

20,556

 

Less: Imputed interest

 

 

(2,615

)

Total lease liabilities

 

$

17,941

 

 

 

 

 

 

 

 

Future minimum payments required under operating leases as of December 31, 2021 were as follows:

 

 

 

(in thousands)

 

Years ending December 31,

 

 

 

2022(1)

 

$

(105

)

2023

 

 

6,639

 

2024

 

 

6,805

 

2025

 

 

6,976

 

Thereafter

 

 

 

Total future undiscounted lease payments

 

 

20,315

 

Less: Imputed interest

 

 

(3,532

)

Total lease liabilities

 

$

16,783

 

______________________________________

(1)
Maturities for 2022 are net of lease incentives of $0.9 million allocated to the Palo Alto office.