Leases

9 Months Ended

Sep. 30, 2022

Leases

Leases

Note 13—Leases

The Company has commitments under operating leases for certain facilities used in its operations. The Company maintains security deposits on certain leases in the amounts of $1,278 and $1,549 within security deposits in its consolidated balance sheets at September 30, 2022 and December 31, 2021, respectively. The Company’s leases have initial lease terms ranging from 5 to 16 years. Certain lease agreements contain provisions for future rent increases.

The following table reflects the components of lease expense:

	For the		For the		For the		For the
	Three Months Ended		Three Months Ended		Nine Months Ended		Nine Months Ended
	September 30, 2022		September 30, 2021		September 30, 2022		September 30, 2021
Operating lease expense:
Fixed lease cost	$	1,795	$	597	$	3,298	$	1,659
Variable lease cost		303		119		840		557
Short term lease expense		602		653		1,971		1,963
Total operating lease expense	$	2,700	$	1,369	$	6,109	$	4,179

The following table reflects supplemental balance sheet information related to leases:

		As of		As of
		September 30,		December 31,
	Location in Balance Sheet	2022		2021
Operating lease right-of-use asset, net	Operating lease right-of-use assets	$	29,488	$	11,854
Operating lease liability, current	Accrued expenses and other liabilities		505		615
Operating lease liability, long-term	Operating lease liability, long-term		36,594		14,559
Total operating lease liability		$	37,099	$	15,174

The following table reflects supplement lease term and discount rate information related to leases:

	As of September 30, 2022		As of December 31, 2021
Weighted-average remaining lease terms - operating leases	9.63 years		7.99 years
Weighted-average discount rate - operating leases	9.0	%	9.0	%

The following table reflects supplemental cash flow information related to leases as of the periods indicated:

	For the Nine Months Ended		For the Nine Months Ended
	September 30, 2022		September 30, 2021
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	3,560	$	176
Right-of-use assets obtained in exchange for lease obligations:	$	18,740	$	3,295

The following table reflects future minimum lease payments under noncancelable leases as of September 30, 2022:

	Operating Leases
2022	$	828
2023		5,239
2024		8,521
2025		8,692
2026		8,833
Thereafter		63,063
Total lease payments		95,176
Less: Imputed interest		(49,792)
Less: Tenant incentive receivable		(8,285)
Total	$	37,099