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Leases
9 Months Ended
Sep. 30, 2022
Leases [Abstract]  
Leases Leases
The Company leases office and manufacturing facilities under non-cancelable operating leases expiring at various dates through September 2028. In October 2021, the Company entered into a lease agreement commencing on April 1, 2022 for a term of 65 months through August 31, 2027. In September 2022, the Company entered into a lease agreement for a term of 66 months through February 2028. Some of the Company’s leases include one or more options to renew, with renewal terms that if exercised by the Company, extend the lease term from one to six years. The exercise of these renewal options is at the Company’s discretion. The Company’s lease agreements do not contain any material terms and conditions of residual value guarantees or material restrictive covenants. The Company’s short-term leases and sublease income were not material.
The components of lease expenses for were as follows (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
Operating lease cost$1,722 $1,202 $4,435 $3,560 
Variable lease cost546 420 1,616 1,324 
Total operating lease cost$2,268 $1,622 $6,051 $4,884 
Supplemental cash flow information related to leases was as follows (in thousands):
Nine Months Ended September 30,
20222021
Cash paid for amounts included in the measurement of lease liabilities:
Cash paid for operating leases included in operating activities$(4,430)$(3,723)
Right of use assets obtained in exchange for lease obligations:
Operating leases16,749 2,876 
Supplemental balance sheet information related to leases was as follows (in thousands):
September 30, 2022December 31, 2021
Operating leases:
Operating lease right-of-use assets$22,812 $9,145 
Operating lease liabilities:
Operating lease liabilities, current$6,139 $4,735 
Operating lease liabilities, non-current18,057 5,768 
Total operating lease liabilities$24,196 $10,503 
Weighted average remaining terms were as follows (in years):
September 30, 2022December 31, 2021
Weighted average remaining lease term
Operating leases4.562.95
Weighted average discount rates were as follows:
September 30, 2022December 31, 2021
Weighted average discount rate
Operating leases5.35 %2.80 %
Maturities of lease liabilities were as follows (in thousands):
Operating Leases
Year Ending December 31,
2022 (remaining three months)$1,641 
20236,190 
20245,123 
20255,193 
20264,732 
20273,927 
Thereafter1,149 
Total lease payments27,955 
Less: imputed interest(3,759)
Total leases liabilities$24,196 
Leases Leases
The Company leases office and manufacturing facilities under non-cancelable operating leases expiring at various dates through September 2028. In October 2021, the Company entered into a lease agreement commencing on April 1, 2022 for a term of 65 months through August 31, 2027. In September 2022, the Company entered into a lease agreement for a term of 66 months through February 2028. Some of the Company’s leases include one or more options to renew, with renewal terms that if exercised by the Company, extend the lease term from one to six years. The exercise of these renewal options is at the Company’s discretion. The Company’s lease agreements do not contain any material terms and conditions of residual value guarantees or material restrictive covenants. The Company’s short-term leases and sublease income were not material.
The components of lease expenses for were as follows (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
Operating lease cost$1,722 $1,202 $4,435 $3,560 
Variable lease cost546 420 1,616 1,324 
Total operating lease cost$2,268 $1,622 $6,051 $4,884 
Supplemental cash flow information related to leases was as follows (in thousands):
Nine Months Ended September 30,
20222021
Cash paid for amounts included in the measurement of lease liabilities:
Cash paid for operating leases included in operating activities$(4,430)$(3,723)
Right of use assets obtained in exchange for lease obligations:
Operating leases16,749 2,876 
Supplemental balance sheet information related to leases was as follows (in thousands):
September 30, 2022December 31, 2021
Operating leases:
Operating lease right-of-use assets$22,812 $9,145 
Operating lease liabilities:
Operating lease liabilities, current$6,139 $4,735 
Operating lease liabilities, non-current18,057 5,768 
Total operating lease liabilities$24,196 $10,503 
Weighted average remaining terms were as follows (in years):
September 30, 2022December 31, 2021
Weighted average remaining lease term
Operating leases4.562.95
Weighted average discount rates were as follows:
September 30, 2022December 31, 2021
Weighted average discount rate
Operating leases5.35 %2.80 %
Maturities of lease liabilities were as follows (in thousands):
Operating Leases
Year Ending December 31,
2022 (remaining three months)$1,641 
20236,190 
20245,123 
20255,193 
20264,732 
20273,927 
Thereafter1,149 
Total lease payments27,955 
Less: imputed interest(3,759)
Total leases liabilities$24,196