Leases

6 Months Ended

Jun. 30, 2023

Leases [Abstract]

Leases

Leases

The Company leases office and manufacturing facilities under non-cancelable operating leases expiring at various dates 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 June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Operating lease cost	$	2,028	$	1,597	$	4,000	$	2,713
Variable lease cost	518		515		1,034		1,070
Total operating lease cost	$	2,546	$	2,112	$	5,034	$	3,783

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

	Six Months Ended June 30,
	2023		2022
Cash paid for amounts included in the measurement of lease liabilities:
Cash paid for operating leases included in operating activities	$	(3,881)	$	(2,857)
Right of use assets obtained in exchange for lease obligations:
Operating leases	2,948		9,993

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

	June 30, 2023		December 31, 2022
Operating leases:
Operating lease right-of-use assets	$	21,043	$	21,244
Operating lease liabilities:
Operating lease liabilities, current	$	6,071	$	5,953
Operating lease liabilities, non-current	16,701		16,989
Total operating lease liabilities	$	22,772	$	22,942

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

	June 30, 2023	December 31, 2022
Weighted average remaining lease term
Operating leases	4.14	4.43

Weighted average discount rates were as follows:

	June 30, 2023		December 31, 2022
Weighted average discount rate
Operating leases	5.90	%	5.45	%

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

	Operating Leases
Year Ending December 31,
2023 (remaining six months)	$	3,240
2024	5,892
2025	5,789
2026	5,310
2027	4,208
2028	1,363
Total lease payments	25,802
Less: imputed interest	(3,030)
Total leases liabilities	$	22,772

Leases

Leases

The Company leases office and manufacturing facilities under non-cancelable operating leases expiring at various dates 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 June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Operating lease cost	$	2,028	$	1,597	$	4,000	$	2,713
Variable lease cost	518		515		1,034		1,070
Total operating lease cost	$	2,546	$	2,112	$	5,034	$	3,783

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

	Six Months Ended June 30,
	2023		2022
Cash paid for amounts included in the measurement of lease liabilities:
Cash paid for operating leases included in operating activities	$	(3,881)	$	(2,857)
Right of use assets obtained in exchange for lease obligations:
Operating leases	2,948		9,993

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

	June 30, 2023		December 31, 2022
Operating leases:
Operating lease right-of-use assets	$	21,043	$	21,244
Operating lease liabilities:
Operating lease liabilities, current	$	6,071	$	5,953
Operating lease liabilities, non-current	16,701		16,989
Total operating lease liabilities	$	22,772	$	22,942

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

	June 30, 2023	December 31, 2022
Weighted average remaining lease term
Operating leases	4.14	4.43

Weighted average discount rates were as follows:

	June 30, 2023		December 31, 2022
Weighted average discount rate
Operating leases	5.90	%	5.45	%

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

	Operating Leases
Year Ending December 31,
2023 (remaining six months)	$	3,240
2024	5,892
2025	5,789
2026	5,310
2027	4,208
2028	1,363
Total lease payments	25,802
Less: imputed interest	(3,030)
Total leases liabilities	$	22,772