Operating Leases and Service Agreements

9 Months Ended

Sep. 30, 2022

Operating Leases and Service Agreements

Operating Leases and Service Agreements

Note 6   Operating Leases and Service Agreements

Operating Leases and Service Agreements

The Company leases office space in various locations under operating lease agreements in the normal course of business, which expire at various dates through 2025. Certain operating leases are secured with cash security deposits or letters of credit.

The Company has service agreements for the use of data processing facilities. These service agreements expire at various dates through 2023. Monthly base payments as of September 30, 2022 range from $6 thousand to $16 thousand.

Future aggregate minimum rental payments under the noncancelable operating leases and service agreements noted above, excluding the Company’s share of real estate taxes and other operating costs, are as follows (in thousands):

	Amount
2022 (remaining three months)	$	951
2023		3,319
2024		2,010
2025		901
Total	$	7,181

Total expense related to these lease agreements, which is included in Cost of revenues and Operating expenses, was $1.0 million and $3.2 million for the three and nine months ended September 30, 2022, respectively, and $1.0 million and $2.8 million for the three and nine months ended September 30, 2021, respectively.