|
Note 14. Leases
Rent expense under the Company’s operating lease agreements was $1.6 million and $0.6 million for the three months ended March 31, 2023 and 2022. There were not any financing, variable, or short term leases during the three months ended March 31, 2023 and 2022. Future minimum lease payments under these agreements are as follows as of March 31, 2023:
|
|
|
|
|
(in thousands) |
|
Amount |
|
2023 (remaining nine months) |
|
$ |
5,697 |
|
2024 |
|
|
7,580 |
|
2025 |
|
|
7,650 |
|
2026 |
|
|
7,777 |
|
2027 |
|
|
7,958 |
|
After 2028 |
|
|
23,826 |
|
Total future lease payments |
|
$ |
60,488 |
|
Less: interest |
|
|
(13,118 |
) |
Present value of lease liabilities |
|
$ |
47,370 |
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
March 31, 2023 |
|
Three Months Ended March 31, 2022 |
|
Supplemental cash flow information: |
|
|
|
|
|
Cash payments for operating leases included in cash flows used in operating activities |
|
|
1,218 |
|
|
613 |
|
|
|
|
|
|
|
|
March 31, 2023 |
|
Other lease information |
|
|
|
Weighted-average remaining lease term - Operating leases |
|
7.7 years |
|
Weighted-average discount rate - Operating leases |
|
|
6.4 |
% |
|