Leases

3 Months Ended

Mar. 31, 2023

Leases [Abstract]

Leases

Leases

The Company leases office and manufacturing facilities under non-cancelable operating leases expiring at various dates through November 2028. In March 2023, the Company entered into a lease agreement commencing on November 1, 2023 for a term of 61 months through November 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 were as follows (in thousands):

	Three Months Ended March 31,
	2023		2022
Operating lease cost	$	1,972	$	1,116
Variable lease cost	516		385
Total operating lease cost	$	2,488	$	1,501

Supplemental cash flow information related to leases was as follows (in thousands):

	Three Months Ended March 31,
	2023		2022
Cash paid for amounts included in the measurement of lease liabilities:
Cash paid for operating leases included in operating activities	$	(1,695)	$	(1,314)
Right of use assets obtained in exchange for lease obligations:
Operating leases	1,211		5,746

Supplemental balance sheet information related to leases was as follows (in thousands):

	March 31, 2023		December 31, 2022
Operating leases:
Operating lease right-of-use assets	$	20,986	$	21,244
Operating lease liabilities:
Operating lease liabilities, current	$	5,906	$	5,953
Operating lease liabilities, non-current	17,061		16,989
Total operating lease liabilities	$	22,967	$	22,942

Weighted average remaining terms were as follows (in years):

	March 31, 2023	December 31, 2022
Weighted average remaining lease term
Operating leases	4.38	4.43

Weighted average discount rates were as follows:

	March 31, 2023		December 31, 2022
Weighted average discount rate
Operating leases	5.65	%	5.45	%

Maturities of lease liabilities were as follows (in thousands):

	Operating Leases
Year Ending December 31,
2023 (remaining nine months)	$	4,759
2024	5,400
2025	5,477
2026	5,016
2027	4,208
2028	1,363
Total lease payments	26,223
Less: imputed interest	(3,256)
Total leases liabilities	$	22,967

Leases

Leases

The Company leases office and manufacturing facilities under non-cancelable operating leases expiring at various dates through November 2028. In March 2023, the Company entered into a lease agreement commencing on November 1, 2023 for a term of 61 months through November 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 were as follows (in thousands):

	Three Months Ended March 31,
	2023		2022
Operating lease cost	$	1,972	$	1,116
Variable lease cost	516		385
Total operating lease cost	$	2,488	$	1,501

Supplemental cash flow information related to leases was as follows (in thousands):

	Three Months Ended March 31,
	2023		2022
Cash paid for amounts included in the measurement of lease liabilities:
Cash paid for operating leases included in operating activities	$	(1,695)	$	(1,314)
Right of use assets obtained in exchange for lease obligations:
Operating leases	1,211		5,746

Supplemental balance sheet information related to leases was as follows (in thousands):

	March 31, 2023		December 31, 2022
Operating leases:
Operating lease right-of-use assets	$	20,986	$	21,244
Operating lease liabilities:
Operating lease liabilities, current	$	5,906	$	5,953
Operating lease liabilities, non-current	17,061		16,989
Total operating lease liabilities	$	22,967	$	22,942

Weighted average remaining terms were as follows (in years):

	March 31, 2023	December 31, 2022
Weighted average remaining lease term
Operating leases	4.38	4.43

Weighted average discount rates were as follows:

	March 31, 2023		December 31, 2022
Weighted average discount rate
Operating leases	5.65	%	5.45	%

Maturities of lease liabilities were as follows (in thousands):

	Operating Leases
Year Ending December 31,
2023 (remaining nine months)	$	4,759
2024	5,400
2025	5,477
2026	5,016
2027	4,208
2028	1,363
Total lease payments	26,223
Less: imputed interest	(3,256)
Total leases liabilities	$	22,967