Leases

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Lessee, Operating Leases

Leases

The Company and its subsidiaries lease their facilities under various operating lease agreements. The Company's headquarters in New York operates under a lease agreement that expires in November 2025. The Company's Israel based operations occupy offices with lease expiration dates that extend through July 2026. On March 18, 2019, the Company entered into a lease agreement to lease office space in Scottsdale, Arizona that expires in November 2024.

Operating lease expense under ASC 842 for leased facilities was $4.2 million for the year ended December 31, 2021. For certain leases that contain options to extend, the options are included in operating lease liabilities only if the company is reasonably certain the option will be exercised. Variable lease costs of $0.5 million and short term lease expense of $0.6 million are recorded as expense in the period the obligation is incurred and are not included in the Company’s operating lease liabilities. Operating lease expense is included within continuing operations in the consolidated statements of operations and comprehensive loss.

Supplemental cash flow information related to operating leases as of December 31, 2021 is as follows ($ in millions):

Operating cash outflow from operating leases	$	4.1
ROU assets obtained in exchange for lease liabilities for operating leases	$	19.5

Weighted-average remaining lease term and discount rate are as follows:

Weighted-average remaining lease term (in years)	4.1
Weighted-average discount rate	4.62	%

Maturities of operating lease liabilities as of December 31, 2021 is as follows ($ in millions):

2022	$	4.9
2023	5.2
2024	6.7
2025	6.2
2026	1.6
Thereafter	—
Total	$	24.6

As of December 31, 2021, the Company had an additional lease commitment in Amsterdam and is excluded from the table above, of approximately $3.6 million which is expected to commence in the first quarter of 2022.

Disclosures prior to adoption of ASC Topic 842:

Operating lease expense under ASC 840 for leased facilities were $3.8 million, and $3.0 million, for the years ended December 31, 2020 and 2019, respectively.

The following table presents future minimum lease commitments for operating leases as of December 31, 2020 ($ in millions):

2021	$	4.8
2022	5.0
2023	2.8
2024	2.8
2025 and thereafter	4.4
Total	$	19.8