Leases (Tables)

6 Months Ended

Jun. 30, 2024

Leases [Abstract]

Summary of Operating and Finance Lease Activities

The following table summarizes the operating and finance lease activities to the income statement and balance sheet for the three months ended June 30, 2024 and 2023 and the six months ended June 30, 2024 and 2023:

(in thousands)		Three months ended June 30,				Six months ended June 30,
Operating lease cost	Classification	2024		2023		2024		2023
Operating lease cost	Occupancy and related expenses, and General and administrative expenses	$	2,988	$	2,253	$	5,747	$	4,443
Variable lease cost	Occupancy and related expenses, and General and administrative expenses		1,401		1,420		2,935		2,661
Total operating lease cost		$	4,389	$	3,673	$	8,682	$	7,104

Supplemental balance sheet information related to leases:
Operating leases (in thousands)	June 30, 2024		December 31, 2023
Operating lease assets	$	122,560	$	99,255
Operating lease liabilities, current		4,516		4,535
Operating lease liabilities, net of current portion		135,071		110,501
Total operating lease liabilities	$	139,587	$	115,036

Finance lease assets, net (in thousands)	June 30, 2024			December 31, 2023
Property and equipment	$	444		$	902
Accumulated depreciation		(442	)		(861	)
Property and equipment, net	$	2		$	41

Finance lease liabilities (in thousands)	June 30, 2024		December 31, 2023
Obligations under finance leases, current	$	56	$	125
Obligations under finance leases, net of current portion		—		—
Total finance lease liabilities	$	56	$	125

	June 30, 2024
Weighted-Average Remaining Lease Term (Years)
Operating leases		15.2
Finance leases		0.4
Weighted-Average Discount Rate
Operating leases		6.71	%
Finance leases		7.45	%

Schedule Maturities of Lease Liabilities

Maturities of lease liabilities as of June 30, 2024:

	Operating Leases			Finance Leases
(in thousands)
2024 - remaining	$	6,050		$	57
2025		13,680			—
2026		14,121			—
2027		14,434			—
2028		14,655			—
Thereafter		172,398			—
Total undiscounted lease payments	$	235,338		$	57
Present value discount/interest		(95,751	)		(1	)
Present value		139,587			56
Lease liabilities, current		4,516			56
Lease liabilities, net of current		135,071			—
Total operating lease liability	$	139,587		$	56

Gross Amounts of Property and Equipment and Related Accumulated Depreciation and Amortization Recorded under Finance Leases

On June 30, 2024 and June 30, 2023 the gross amounts of property and equipment and related accumulated depreciation and amortization recorded under finance leases were as follows:

(in thousands)	June 30, 2024			June 30, 2023
Property and equipment		444			902
Less accumulated depreciation and amortization		(442	)		(804	)
Property and equipment, net	$	2		$	98