Leases

9 Months Ended

Sep. 30, 2024

We lease various office and retail spaces under non-cancelable operating leases with various expiration dates through fiscal 2034, certain of which contain renewal provisions. These renewal provisions are not reasonably certain to be exercised and therefore are not factored into the determination of lease payments. We have no lease agreements that are classified as finance leases.

The components of lease costs, recognized as selling, general, and administrative expense in the condensed consolidated statements of operations and comprehensive loss, along with the weighted-average lease term and weighted-average discount rate for operating leases, are as follows:


	Three Months Ended September 30,						Nine Months Ended September 30,
(in thousands, except for lease term and discount rate)	2024			2023			2024		2023
Operating lease costs	$	3,741		$	4,666		$	11,775	$	13,884
Variable lease costs	30			56			112		168
Short-term lease costs	47			3			141		73
Sublease income	(68)			(57)			(203)		(110)
Total lease costs	$	3,750		$	4,668		$	11,825	$	14,015

	September 30, 2024			September 30, 2023
Weighted-average remaining lease term (in years)	6.23			7.29
Weighted-average discount rate	5.71		%	5.55		%

Supplemental cash flow information related to operating leases are as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2024		2023		2024		2023
Cash paid for amounts included in the measurement of operating lease liabilities	$	3,540	$	4,246	$	15,775	$	10,371
Right of use assets obtained in exchange for lease liabilities	—		24		—		8,480
Right of use assets given up for reduction of lease liabilities	(2,699)		—		(15,417)		—

Future minimum lease payments under non-cancelable operating leases with initial lease terms in excess of one year, included in our lease liabilities as of September 30, 2024, are as follows:


(in thousands)	Operating Lease Payments
Fiscal year ended December 31,
Remainder of 2024	$	3,488
2025	13,495
2026	12,822
2027	9,212
2028	8,089
Thereafter	24,489
Total undiscounted operating lease payments	$	71,596
Less: imputed discount	(12,343)
Total operating lease liabilities	$	59,253