Leases (Tables)
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6 Months Ended |
Jun. 30, 2024 |
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| Leases |
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| Schedule of lease cost and other information about leases |
| | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | (in thousands) | | 2024 | | 2023 | | 2024 | | 2023 | Lease cost: | | | | | | | | | | | | | Operating lease cost (1) | | $ | 2,690 | | $ | 2,582 | | $ | 5,327 | | $ | 5,169 | Finance lease cost: | | | | | | | | | | | | | Depreciation of finance lease assets (2) | | | 493 | | | 314 | | | 1,112 | | | 531 | Interest on finance lease liabilities (3) | | | 57 | | | 43 | | | 121 | | | 66 | Short-term lease cost (1) | | | 327 | | | 243 | | | 644 | | | 489 | Sublease income (1) | | | — | | | (267) | | | — | | | (534) | Total lease cost | | $ | 3,567 | | $ | 2,915 | | $ | 7,204 | | $ | 5,721 | | | | | | | | | | | | | | Other information: | | | | | | | | | | | | | Cash paid for amounts included in the measurement of lease liabilities | | | | | | | | | | | | | Operating cash outflows from operating leases | | $ | 2,522 | | $ | 1,516 | | $ | 5,038 | | $ | 2,852 | Operating cash outflows from finance leases | | $ | 81 | | $ | 17 | | $ | 155 | | $ | 40 | Financing cash outflows from finance leases | | $ | 747 | | $ | 515 | | $ | 1,562 | | $ | 1,028 |
| (1) | Included in Cost of revenue, Sales, marketing and customer support, Product development and General and administrative expenses in the accompanying Condensed Consolidated Statements of Operations and Comprehensive Income. |
| (2) | Included in Depreciation and amortization in the accompanying Condensed Consolidated Statements of Operations and Comprehensive Income. |
| (3) | Included in Interest expense in the accompanying Condensed Consolidated Statements of Operations and Comprehensive Income. |
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| Schedule of weighted-average remaining lease terms and discount rates |
The following table presents weighted-average remaining lease terms and weighted-average discount rates for finance and operating leases as of June 30, 2024 and 2023, respectively: | | | | | | | June 30, | | | 2024 | | 2023 | Weighted-average remaining lease term - operating leases (in years) | | 12.5 | | 13.8 | Weighted-average remaining lease term - finance leases (in years) | | 1.9 | | 2.6 | Weighted-average discount rate - operating leases | | 4.8% | | 4.5% | Weighted-average discount rate - finance leases | | 5.5% | | 5.2% |
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| Schedule of the future operating lease commitment under agreement |
Maturities of lease liabilities as of June 30, 2024 were as follows: | | | | | | | | | June 30, 2024 | (in thousands) | | Operating Leases | | Finance Leases | 2024 (for remaining six months) | | $ | 5,327 | | $ | 1,497 | 2025 | | | 10,153 | | | 2,150 | 2026 | | | 9,414 | | | 819 | 2027 | | | 8,863 | | | | 2028 | | | 7,722 | | | | 2029 | | | 8,145 | | | | Thereafter | | | 67,156 | | | | Total lease payments | | | 116,780 | | | 4,466 | Less amount representing interest | | | (30,402) | | | (229) | Present value of total lease payments | | $ | 86,378 | | $ | 4,237 |
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| Schedule of maturities of finance lease liabilities |
| | | | | | | | | June 30, 2024 | (in thousands) | | Operating Leases | | Finance Leases | 2024 (for remaining six months) | | $ | 5,327 | | $ | 1,497 | 2025 | | | 10,153 | | | 2,150 | 2026 | | | 9,414 | | | 819 | 2027 | | | 8,863 | | | | 2028 | | | 7,722 | | | | 2029 | | | 8,145 | | | | Thereafter | | | 67,156 | | | | Total lease payments | | | 116,780 | | | 4,466 | Less amount representing interest | | | (30,402) | | | (229) | Present value of total lease payments | | $ | 86,378 | | $ | 4,237 |
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