v3.23.3
Leases
9 Months Ended
Sep. 30, 2023
Leases [Abstract]  
Leases Leases
The Company leases facilities under non-cancellable operating leases primarily in the United States, South Africa, and the United Kingdom. The Company’s operating leases have remaining lease terms of between less than one to 11 years, some of which include options to extend the leases for up to five years, and some of which include options to terminate the leases within one year. These options to extend the terms of the Company’s operating leases were not deemed to be reasonably certain of exercise as of lease commencement and are therefore not included in the determination of their respective non-cancellable lease terms. The future lease payments due under non-cancellable operating lease arrangements contain fixed rent increases over the term of the lease.
The following table presents the components of lease expense on the Company’s condensed consolidated statements of operations and comprehensive loss for each of the periods indicated.
Three Months Ended
September 30,
Nine Months Ended
September 30,
2023202220232022
(in thousands)
Operating lease expense$4,372 $5,099 $13,175 $16,471 
Short-term lease expense46 139 115 407 
Variable lease expense1,672 1,811 4,941 5,180 
Sublease income(535)(427)(1,443)(883)
Total lease expense$5,555 $6,622 $16,788 $21,175 
As of September 30, 2023, for the Company’s operating leases, the weighted-average remaining lease term was 6.3 years and the weighted-average discount rate was 10.7%. For the nine months ended September 30, 2023 and 2022, cash paid for amounts included in the measurement of operating lease liabilities was $18.2 million and $18.8 million, respectively. There were no lease liabilities arising from obtaining right-of-use assets for the nine months ended September 30, 2023. For the nine months ended September 30, 2022, lease liabilities arising from obtaining right-of use assets were $15.5 million.
The following table presents the maturities of the Company’s operating lease liabilities as of the date indicated, and excludes the impact of future sublease income totaling $4.1 million in aggregate.
September 30, 2023
(in thousands)
Remainder of 2023$6,102 
202424,214 
202520,433 
202620,983 
202721,556 
Thereafter49,305 
Total lease payments142,593 
Less: imputed interest(41,106)
Total lease liability$101,487