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Leases
3 Months Ended
Mar. 31, 2024
Leases [Abstract]  
Leases Leases
As of March 31, 2024, we had non-cancelable operating leases for our corporate headquarters and manufacturing facilities located in Fremont, California and in Brighton, Colorado. Our Fremont lease, which expires in June 2027, provides us an option to extend the term for one additional 5-year period. Our Brighton lease, which expires in May 2039, provides us an option to extend the term for two additional 5-year periods. We determined with reasonable certainty that we will exercise our option to extend the lease term of the Fremont lease, but not the Brighton lease. Our operating leases do not contain any material residual value guarantees. We had no leases that were classified as finance leases as of March 31, 2024.
The components of lease expense during the three months ended March 31, 2024 and 2023 are shown in the table below (in thousands).
Three months ended March 31,
20242023
Operating lease expense$1,286 $202 
Variable lease expense111 53 
Short-term lease expense22 19 
Total lease expense$1,419 $274 
Other information about our operating leases during the three months ended March 31, 2024 and 2023 are shown in the table below (amounts in thousands).
Three months ended March 31,
20242023
Cash paid for amounts included in the measurement of operating lease
   liabilities
$278 $179 
Right-of-use assets obtained in exchange for new operating lease liabilities$— $5,241 
Weighted-average remaining lease term14.2 years9.3 years
Weighted-average discount rate
9.4 %7.9 %
Future operating lease payments as of March 31, 2024 are as follows (in thousands):
Year ending December 31:Amount
Remainder of 2024$849 
20251,794 
20264,377 
20275,025 
20285,185 
20295,344 
Thereafter48,440 
Gross lease payments71,014 
Less - present value adjustments(34,928)
Total operating lease liabilities$36,086