Quarterly report pursuant to Section 13 or 15(d)

LEASES

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LEASES
 9 Months Ended
Sep. 30, 2024
Leases [Abstract]  
LEASES
NOTE 13—LEASES
The Company's operating leases primarily consist of real estate leases such as offices. During the three months ended September 30, 2024 and 2023, operating lease expense was $1.1 million and $1.2 million, respectively, and during the nine months ended September 30, 2024 and 2023, operating lease expense was $3.5 million and $3.7 million, respectively. The Company does not have any finance leases. Total variable and short-term lease payments were immaterial for all periods presented.
On June 30, 2024, the Company renewed its lease of office space located in Tel Aviv, Israel. The original lease term was set to expire on December 31, 2024. The renewed lease term extends for an additional three years through December 31, 2027. As a result of the lease renewal, the Company recognized an additional right-of-use asset and lease liability of $3.4 million.
Supplemental balance sheet information related to operating leases are as follows:
September 30, 2024 December 31, 2023
Operating lease right-of-use assets, net $ 10,545 $ 9,369
Operating lease liabilities, current 3,486 4,236
Operating lease liabilities, noncurrent 7,513 5,699
Operating lease liabilities, total $ 10,999 $ 9,935
Weighted average remaining lease term, years 3.1 3.1
Weighted average discount rate 5.8  % 4.5  %
Operating lease liability maturities:
Year ending December 31, Operating Leases
Remaining 2024 $ 1,028 
2025 3,948 
2026 3,710 
2027 2,900 
2028 382 
Thereafter — 
Total undiscounted cash flows $ 11,968 
Less: imputed interest $ (969)
Lease liabilities, total $ 10,999 
As of September 30, 2024, the Company did not have material additional operating leases that have not yet commenced.