Leases (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Summary of Lease Expense

The elements of lease expense were as follows:

	Year Ended December 31,
(in thousands)	2023		2022
Operating lease cost	$	7,802	$	6,435
Variable lease cost		2,618		1,798
Total lease cost	$	10,420	$	8,233

Summary of Amounts Reported in Consolidated Balance Sheets and Weight-average Lease Term and Discount Rate Information

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

(in thousands except weighted-average amounts)	December 31, 2023			December 31, 2022
Assets
Operating lease right-of-use assets	$	40,048		$	44,444
Liabilities
Operating lease liabilities, current	$	3,830		$	3,272
Operating lease liabilities, non-current		31,830			35,640
Total lease liabilities	$	35,660		$	38,912
Weighted-Average Lease Term and Discount Rate
Weighted-average remaining lease term (years)	6.7			7.7
Weighted-average discount rate		8.2	%		8.2	%

Summary of Other Lease Activity

The following table represents other lease activity:

	Year Ended December 31,
(in thousands)	2023		2022
Cash Flow Information
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases	$	6,658	$	13,311
Right-of-use assets obtained in exchange for lease obligations	$	—	$	23,376

Summary of Future Lease Payments for Noncancelable Leases

Future lease payments for noncancelable leases as of December 31, 2023 were as follows:

(in thousands)	December 31, 2023
2024	$	6,591
2025		6,651
2026		6,681
2027		6,882
2028		7,088
Thereafter		12,902
Total lease payments	$	46,795
Less: imputed interest		(11,135	)
Present value of lease liabilities	$	35,660