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Leases (Tables)
12 Months Ended
Dec. 31, 2023
Leases [Abstract]  
Summary of Components of Lease Expense

The components of lease expense are as follows (in thousands):

 

 

 

Year Ended December 31,

 

(in thousands)

 

2023

 

 

2022

 

Operating lease costs

 

$

1,127

 

 

$

614

 

Variable lease costs

 

 

395

 

 

 

277

 

Total lease cost

 

$

1,522

 

 

$

891

 

Schedule of Other Information

Other information related to leases was as follows:

 

 

 

Year Ended December 31,

 

Supplemental Cash Flows Information (in thousands)

 

2023

 

 

2022

 

Operating lease right of use assets obtained in exchange for operating lease liabilities (1)

 

$

2,247

 

 

$

1,787

 

Cash paid for amounts included in the measurement of lease liabilities

 

$

1,087

 

 

$

637

 

 

(1)
The amount for the year ended December 31, 2022 includes approximately $1.5 million of ROU assets obtained in exchange for existing lease obligations due to the adoption of ASC Topic 842 and approximately $0.3 million of additional ROU assets obtained during the year.

 

 

 

December 31, 2023

 

 

December 31, 2022

 

Weighted average remaining lease term (years)

 

 

2.9

 

 

 

2.7

 

Weighted average discount rate

 

 

8.5

%

 

 

5.4

%

Schedule of Future Maturities of Lease Liabilities

Future maturities of lease liabilities were as follows as of December 31, 2023:

 

(in thousands)

 

Operating Leases

 

2024

 

$

1,306

 

2025

 

 

580

 

2026

 

 

413

 

2027

 

 

345

 

2028

 

 

136

 

Thereafter

 

 

9

 

Total future minimum lease payments

 

$

2,789

 

Less: imputed interest

 

 

205

 

Present value of lease liabilities

 

$

2,584