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Leases (Tables)
3 Months Ended
Mar. 31, 2023
Leases [Abstract]  
Summary of Lease Expense

The elements of lease expense were as follows:

 

 

Three Months Ended
March 31,

 

(in thousands)

 

2023

 

 

2022

 

Operating lease cost

 

$

1,953

 

 

$

920

 

Variable lease cost

 

 

597

 

 

 

341

 

Total lease cost

 

$

2,550

 

 

$

1,261

 

Summary of Amounts Reported in Condensed Consolidated Balance Sheets and Weighted-average Lease Term and Discount rate Information

Amounts reported in the condensed consolidated balance sheets and the weighted-average lease term and discount rate information were as follows:

(in thousands except weighted-average amounts)

 

March 31, 2023

 

 

December 31, 2022

 

Assets

 

 

 

 

 

 

Operating lease right-of-use assets

 

$

43,575

 

 

$

44,444

 

Liabilities

 

 

 

 

 

 

Operating lease liabilities, current

 

$

3,713

 

 

$

3,272

 

Operating lease liabilities, non-current

 

 

34,739

 

 

 

35,640

 

Total lease liabilities

 

$

38,452

 

 

$

38,912

 

Weighted-Average Lease Term and Discount Rate

 

 

 

 

 

 

Weighted-average remaining lease term (years)

 

7.4

 

 

7.7

 

Weighted-average discount rate

 

 

8.2

%

 

 

8.2

%

Summary of Other Lease Activity

The following table represents other lease activity:

 

 

Three Months Ended
March 31,

 

(in thousands)

 

2023

 

 

2022

 

Other Information

 

 

 

 

 

 

Cash paid for amounts included in the measurement of lease liabilities

 

 

 

 

 

 

Operating cash flows for operating leases

 

$

1,544

 

 

$

727

 

Right-of-use assets obtained in exchange for lease obligations

 

$

270

 

 

$

6,377