Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.24.1.u1
Leases (Tables)
3 Months Ended
Mar. 31, 2024
Leases  
Schedule of lease cost and other information about leases

    

Three Months Ended March 31, 

(in thousands)

2024

2023

Lease cost:

Operating lease cost (1)

$

2,637

$

2,587

Finance lease cost:

Depreciation of finance lease assets (2)

619

217

Interest on finance lease liabilities (3)

64

23

Short-term lease cost (1)

317

246

Sublease income (1)

(267)

Total lease cost

$

3,637

$

2,806

 

 

Other information:

Cash paid for amounts included in the measurement of lease liabilities

Operating cash outflows from operating leases

$

2,516

$

1,336

Operating cash outflows from finance leases

$

74

$

23

Financing cash outflows from finance leases

$

815

$

513

(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.

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 March 31, 2024 and 2023, respectively:

    

March 31, 

2024

 

2023

Weighted-average remaining lease term - operating leases (in years)

 

12.9

13.9

Weighted-average remaining lease term - finance leases (in years)

 

2.1

1.4

Weighted-average discount rate - operating leases

4.7%

4.5%

Weighted-average discount rate - finance leases

 

5.4%

3.7%

Schedule of the future operating lease commitment under agreement

Maturities of lease liabilities as of March 31, 2024 were as follows:

    

March 31, 2024

(in thousands)

Operating Leases

Finance Leases

2024 (for remaining nine months)

$

7,802

$

2,325

2025

 

9,410

 

2,150

2026

 

8,140

 

819

2027

 

7,586

 

2028

 

7,731

 

2029

8,154

Thereafter

67,157

Total lease payments

 

115,980

 

5,294

Less amount representing interest

 

(31,012)

 

(310)

Present value of total lease payments

$

84,968

$

4,984

Schedule of maturities of finance lease liabilities

    

March 31, 2024

(in thousands)

Operating Leases

Finance Leases

2024 (for remaining nine months)

$

7,802

$

2,325

2025

 

9,410

 

2,150

2026

 

8,140

 

819

2027

 

7,586

 

2028

 

7,731

 

2029

8,154

Thereafter

67,157

Total lease payments

 

115,980

 

5,294

Less amount representing interest

 

(31,012)

 

(310)

Present value of total lease payments

$

84,968

$

4,984