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Commitments and Contingencies (Tables)
12 Months Ended
Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Lease Costs and Cash Paid

The following table summarizes the lease costs and cash paid for the Company’s leases (in thousands):

 

December 31,

 

 

2023

 

 

2022

 

 

2021

 

 

 

 

 

 

 

 

 

 

Cash paid for operating lease liabilities

$

2,469

 

 

$

700

 

 

$

346

 

Operating lease costs

 

4,099

 

 

 

711

 

 

 

482

 

Short-term lease costs

 

 

 

 

2,921

 

 

 

671

 

Variable lease costs

 

1,326

 

 

 

357

 

 

 

105

 

Schedule of Supplemental Balance Sheet Information Related To Operating Leases

Supplemental balance sheet information related to operating leases is as follows:

 

 

December 31,

 

 

2023

 

 

2022

 

 

2021

 

Weighted average remaining lease term

 

5.6

 

 

 

3.3

 

 

 

4.3

 

Weighted average discount rate

 

10.9

%

 

 

5.4

%

 

 

5.4

%

 

Schedule of Maturities of Lease Liabilities

Maturities of lease liabilities as of December 31, 2023 were as follows (in thousands):

 

 

 

Operating Lease

 

Year Ending December 31,

 

Commitments

 

2024

 

 

4,054

 

2025

 

 

2,757

 

2026

 

 

1,380

 

2027

 

 

1,431

 

2028

 

 

1,474

 

Thereafter

 

 

4,826

 

Total undiscounted lease payments

 

 

15,922

 

Less: Present value adjustments

 

 

(4,488

)

Less: Tenant improvement allowance yet to be received

 

 

(1,138

)

Total operating lease liabilities

 

$

10,296

 

Operating lease liabilities, current

 

 

2,466

 

Operating lease liabilities, non-current (1)

 

 

7,830

 

Total operating lease liabilities (1)

 

$

10,296

 

(1) Total operating lease liabilities are presented net of tenant improvement allowances yet to be received which exceeds the minimum lease payments to be paid over the next 12 months. As such, the current portion of the related lease liability is fully reduced and the noncurrent portion of the related lease liability is reduced by the remaining portion of the lease incentive yet to be received.