Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies (Tables)

v3.24.2.u1
Commitments and Contingencies (Tables)
6 Months Ended
Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]  
Summary of Components of Lease Expenses

The components of lease expense for the three and six months ended June 30, 2024 and 2023 were as follows:

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

 

Operating Lease Cost

 

$

1,529

 

 

$

1,514

 

 

$

3,058

 

 

$

3,033

 

 

Financing Lease Cost:

 

 

 

 

 

 

 

 

 

 

 

 

 

Amortization of ROU assets

 

$

33

 

 

$

30

 

 

 

65

 

 

 

59

 

 

Interest on lease liabilities

 

 

3

 

 

 

2

 

 

 

7

 

 

 

5

 

 

Total

 

$

36

 

 

$

32

 

 

 

72

 

 

 

64

 

 

Summary of Future Minimum Lease Payments and Rentals under Lease Agreements For Office Space

Future minimum lease payments and rentals under lease agreements for office space are as follows:

 

 

Operating Leases

 

 

Non-cancellable
Subleases

 

 

Operating Lease
Liabilities

 

Remainder of 2024

 

$

3,297

 

 

$

(60

)

 

$

3,237

 

2025

 

 

6,571

 

 

 

(40

)

 

 

6,531

 

2026

 

 

6,562

 

 

 

 

 

 

6,562

 

2027

 

 

6,523

 

 

 

 

 

 

6,523

 

2028

 

 

4,913

 

 

 

 

 

 

4,913

 

Thereafter

 

 

1,692

 

 

 

 

 

 

1,692

 

Total

 

$

29,558

 

 

$

(100

)

 

$

29,458

 

Weighted-average remaining lease term – operating leases (months)

 

 

 

 

 

 

 

 

56.3

 

Weighted-average discount rate

 

 

 

 

 

 

 

 

4.6

%

Assets Relating to Finance Leases Included in Equipment

The assets relating to finance leases that are included in equipment as of June 30, 2024 and December 31, 2023 are as follows:

 

 

June 30,
2024

 

 

December 31,
2023

 

Finance lease assets included in furniture and equipment

 

$

509

 

 

$

509

 

Less: Accumulated depreciation and amortization

 

 

(244

)

 

 

(179

)

 

$

265

 

 

$

330

 

Summary of Future Minimum Lease Payments under Finance Leases

Future minimum lease payments under finance leases are as follows:

 

 

Future Minimum Lease
Commitments

 

Remainder of 2024

 

$

57

 

2025

 

 

113

 

2026

 

 

72

 

2027

 

 

31

 

2028

 

 

 

Thereafter

 

 

 

Total

 

$

273

 

Weighted-average remaining lease term – finance leases (months)

 

 

31.1

 

Weighted-average discount rate

 

 

4.7

%