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Commitments and Contingencies (Tables)
9 Months Ended 12 Months Ended
Sep. 30, 2023
Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]    
Schedule of Operating Lease Costs, Variable Lease Costs and Sub Lease Income
The following table summarizes operating lease costs and variable lease costs, as well as sublease income:
 
    
Nine months ended September 30,
 
    
        2023        
    
        2022        
 
    
(in thousands)
 
Operating lease costs
   $ 3,263      $ 2,826  
Variable lease costs
     1,551        1,698  
Sublease income
     (2,312      (1,210
  
 
 
    
 
 
 
Net lease cost
   $ 2,502      $ 3,314  
  
 
 
    
 
 
 
The following table summarizes operating lease costs and variable lease costs, as well as sublease income for the year ended December 31, 2022:
 
    
Years ended December 31,
 
    
        2022        
    
        2021        
 
    
(in thousands)
 
Operating lease costs
   $ 3,913      $ 2,592  
Variable lease costs
     2,142        2,127  
Sublease income
     (1,979      (861
  
 
 
    
 
 
 
Net lease cost
   $ 4,076      $ 3,858  
  
 
 
    
 
 
 
Schedule of Operating Lease Liabilities and Minimum Lease Payments
The maturities of the Company’s operating lease liabilities and minimum lease payments as of September 30, 2023 were as follows:
 
For the Years Ending December 31,
  
Amount
(in thousands)
 
2023
     1,134  
2024
     4,578  
2025
     4,715  
2026
     4,857  
Thereafter
     26,265  
  
 
 
 
Total undiscounted lease payments
   $ 41,549  
Less: imputed interest
     (13,211
  
 
 
 
Present value of operating lease liabilities
   $ 28,338  
  
 
 
 
The maturities of our operating lease liabilities as of December 31, 2022 were as follows:
 
For the Years Ending December 31,
  
Amount
(in thousands)
 
2023
     4,444  
2024
     4,578  
2025
     4,715  
2026
     4,857  
Thereafter
     26,266  
  
 
 
 
Total undiscounted lease payments
   $ 44,860  
Less: imputed interest
     (15,383
  
 
 
 
Present value of operating lease liabilities
   $ 29,477  
  
 
 
 
Schedule of Lease Term and Discount Rate
The following table summarizes the lease term and discount rate as of September 30, 2023:
 
    
September 30, 2023
 
Weighted-average remaining lease term (years)
  
Operating leases
     7.5  
Weighted-average discount rate
  
Operating leases
     10.6
The following table summarizes the lease term and discount rate as of December 31, 2022:
 
    
As of
December 31, 2022
 
Weighted-average remaining lease term (years)
  
Operating leases
     8.2  
Weighted-average discount rate
  
Operating leases
       10.6
Schedule of Operating Lease Liabilities
The following table summarizes the supplemental cash flow information related to the Company’s operating lease:
 
    
Nine months ended September 30,
 
    
        2023        
    
        2022        
 
    
(in thousands)
 
Cash paid for amounts included in the measurement of lease liabilities
   $ 3,310      $ 2,226  
Increase in lease liabilities and
right-of-use
assets due to lease remeasurements
   $ —        $ 6,262  
The following table summarizes the supplemental cash flow information related to the Company’s operating leases for the year ended December 31, 2022.
 
    
Years ended December 31,
 
    
2022
    
2021
 
    
(in thousands)
 
Cash paid for amounts included in the measurement of lease liabilities
   $ 3,326      $ 3,810  
Increase in lease liabilities and
right-of-use
assets due to lease remeasurement
   $ 6,262      $ 10,901