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Leases (Tables)
9 Months Ended
Sep. 30, 2022
Leases [Abstract]  
Components of Operating Lease Costs

The components of operating lease costs were as follows (in thousands):

 

 

 

FOR THE THREE MONTHS ENDED SEPTEMBER 30,

 

 

FOR THE NINE MONTHS ENDED SEPTEMBER 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Operating lease costs

 

$

1,240

 

 

$

1,208

 

 

$

3,720

 

 

$

3,626

 

Short-term lease costs

 

 

5

 

 

 

8

 

 

 

12

 

 

 

21

 

Variable lease costs

 

 

712

 

 

 

638

 

 

 

2,026

 

 

 

1,897

 

Sublease income

 

 

(430

)

 

 

(484

)

 

 

(2,102

)

 

 

(1,188

)

 

 

$

1,527

 

 

$

1,370

 

 

$

3,656

 

 

$

4,356

 

Summary of Additional Lease Information

Additional lease information is summarized in the following table (in thousands, except lease term and discount rate):

 

 

 

FOR THE NINE MONTHS ENDED SEPTEMBER 30,

 

 

 

2022

 

 

2021

 

Cash paid for amounts included in the measurement of operating
   lease liabilities

 

$

4,700

 

 

$

4,500

 

Weighted-average remaining lease term - operating leases (years)

 

 

7.2

 

 

 

8.2

 

Weighted-average discount rate - operating leases

 

 

10.1

%

 

 

10.3

%

Schedule of Undiscounted Cash Flows Used in Calculating the Operating Lease Liabilities and Amounts to be Received under the Sublease

Undiscounted cash flows used in calculating the Company’s operating lease liabilities and amounts to be received under the sublease at 4 Hartwell Place as of September 30, 2022 are as follows (in thousands):

Fiscal Year

 

OPERATING
LEASE
PAYMENTS

 

 

SUBLEASE
  RECEIPTS

 

 

NET
OPERATING
LEASE
PAYMENTS

 

2022 (remainder of the year)

 

$

1,573

 

 

$

250

 

 

$

1,323

 

2023

 

 

6,436

 

 

 

1,024

 

 

 

5,412

 

2024

 

 

6,625

 

 

 

965

 

 

 

5,660

 

2025

 

 

6,820

 

 

 

 

 

 

6,820

 

2026

 

 

7,020

 

 

 

 

 

 

7,020

 

Thereafter

 

 

21,779

 

 

 

 

 

 

21,779

 

Total undiscounted cash flows

 

$

50,253

 

 

$

2,239

 

 

$

48,014

 

Less: Amounts representing interest

 

 

(14,669

)

 

 

 

 

 

 

Present value of lease liabilities

 

$

35,584