Leases (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Schedule of lease cost and supplemental lease information

Operating lease expense is recorded on a straight-line basis over the lease term and lease costs were as follows:

	For the years ended December 31,
	2023		2022
	(in thousands)
Operating lease cost	$	3,860	$	3,268
Variable lease cost	405		43
Short-term lease cost	343		513
Total lease cost	$	4,608	$	3,824

Lease expense under operating lease agreements for the year ended December 31, 2021 was $4.2 million.

Supplemental information related to operating lease transactions is as follows (in thousands):

	For the years ended December 31,
	2023		2022
	(in thousands)
Lease liability payments	$	3,692	$	2,888
Lease right-of-use assets obtained in exchange for liabilities	$	5,005	$	4,468
Non-cash net decrease in lease assets due to lease modifications	$	553	$	(1,015)
Non-cash net decrease in lease liability due to lease modifications	$	(553)	$	1,015

Weighted average remaining lease term and discount rate as of December 31, 2023 and 2022 is as follows:

	As of December 31,
	2023		2022
Weighted average remaining lease term, in years	3.4		3.8
Weighted average discount rate	7.0	%	5.0	%

Schedule of operating lease maturities

As of December 31, 2023, operating lease liabilities will mature as follows:

	Lease Payments
	(in thousands)
2024	4,255
2025	3,381
2026	2,323
2027	2,023
2028	273
Thereafter	269
Total lease payments	12,524
Less: imputed interest	(1,528)
Total	$	10,996