Quarterly report pursuant to Section 13 or 15(d)

Operating Right-of-Use Asset and Operating Lease Liability (Tables)

v3.24.3
Operating Right-of-Use Asset and Operating Lease Liability (Tables)
 9 Months Ended
Sep. 30, 2024
Leases [Abstract]  
Supplemental Balance Sheet Information Related to Leases
Balance sheet information related to the Company’s leases is presented below:
September 30,
2024		 December 31, 2023
Operating leases:
Operating right-of-use asset $ 22,813  $ 23,484 
Operating lease liability, current 4,472  4,787 
Operating lease liability, long-term 19,271  19,738 
Schedule of Lease Expense and Other Lease Information
The following provides details of the Company’s lease expense:
Three Months Ended September 30, Nine Months Ended September 30,
2024 2023 2024 2023
Lease cost:
Short-term lease cost
 $ 492  $ 127  $ 907  $ 347 
Operating lease cost
 516  528  1,264  1,489 
Operating lease cost - Cost of revenue
 988  1,247  3,221  3,387 
Total $ 1,996  $ 1,902  $ 5,392  $ 5,223 
Other information related to leases is presented below:
September 30, 2024
Weighted-average discount rate – operating lease
 8.00  %
Weighted-average remaining lease term – operating lease (in years)
 6.3
Schedule of Expected Annual Minimum Lease Payments
As of September 30, 2024, the expected annual minimum lease payments of the Company’s operating lease liabilities were as follows:
For the Year Ended December 31
Remainder of 2024 $ 1,503 
2025 6,208 
2026 5,643 
2027 3,684 
2028 2,908 
Thereafter 10,500 
Total future minimum lease payments, undiscounted
 30,446 
Less: Imputed interest for leases in excess of one year
 (6,703)
Present value of future minimum lease payments
 $ 23,743