Leases

6 Months Ended

Jun. 30, 2022

Leases [Abstract]

Leases

19.LEASES

The Company has operating lease agreements for office space in the United States. The agreements expire over the next three years, except for the New York headquarters office, which expires in 2028. The Company recognizes operating lease expense on a straight-line basis over the term of the lease.

Additionally, the Company has short-term leases with an initial term of twelve months or less that are not recorded on the Condensed Consolidated Balance Sheet.

Lease expense is allocated to Operating expense categories (Platform operations, Sales and marketing, Technology and development, General and administrative) in the Condensed Consolidated Statements of Operations in proportion to headcount in each of these categories. The components of lease expense for the three and six months ended June 30, 2022 were as follows:

	Three Months Ended June 30,		Six Months Ended June 30,
	2022		2022
Operating Lease Cost	$	241	$	472
Short Term Lease Cost		27		49
Variable Lease Cost		—		—

Supplemental cash flow information related to the Company’s operating leases for the six months ended June 30, 2022 were as follows:

	June 30, 2022
Operating cash flows used for operating leases	$	613
Right-of-use assets obtained in exchange for new operating lease obligations		214

Supplemental balance sheet information related to the Company’s operating leases as of June 30, 2022 were as follows:

	June 30, 2022
Weighted average remaining lease term (years)		6.05
Weighted average discount rate (%)		3.25	%

Approximate future minimum lease payments for the Company’s operating leases are as follows as of June 30, 2022:

	June 30, 2022
Remainder of 2022	$	767
2023		1,484
2024		1,441
2025		1,433
2026		1,415
Thereafter		2,387
Total operating lease payments	$	8,927
Less: Imputed interest		(819	)
Total operating lease liabilities	$	8,108

In connection with several lease agreements, the Company maintains letters of credit in the total amount of approximately $983 as of June 30, 2022 and December 31, 2021.