Leases (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Summary of Lease Costs Recognized and Other Information Pertaining to Operating Leases

The following table contains a summary of the lease costs recognized under ASC 842 and other information pertaining to the Company’s operating leases for the years ended December 31, 2023 and 2022:


		For the Year Ended December 31,
		2023				2022
		(in thousands)
Lease cost
Operating lease cost		$	7,365			$	6,458
Variable lease cost			2,798				2,508
Total lease cost		$	10,163			$	8,966

Other information
Operating cash flows used for operating leases		$	8,655			$	7,226
Increase in operating right-of-use assets		$	—			$	12,006
Operating lease liabilities arising from obtaining right-of-use assets		$	—			$	12,006
Weighted average remaining lease term		4 years				5 years
Weighted average discount rate			9.2	%			9.2	%

Schedule of Future Minimum Rental Payments for Operating Leases Under Topic 842

Future minimum lease payments under the Company’s non-cancelable operating leases as of December 31, 2023, are as follows:


		As of December 31, 2023
		(in thousands)
2024		$	9,311
2025			9,591
2026			9,584
2027			8,987
2028			886
Thereafter			-
Total lease payments		$	38,359
Less: imputed interest			(6,241	)
Total operating lease liabilities		$	32,118