Quarterly report pursuant to Section 13 or 15(d)

Subsequent Events

Subsequent Events
9 Months Ended
Sep. 30, 2023
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
Reduction in Force & Facilities Expense
On October 9, 2023, the Company commenced a reduction in force plan to streamline its business operations, reduce costs and create further operating efficiencies, which affected 62 employees, representing approximately 21% of the Company’s workforce. In connection with the reduction in force, the Company currently estimates it will incur approximately $1.0 million to $2.0 million of costs, consisting primarily of personnel expenses such as salaries and wages, one-time severance payments, and other benefits. The majority of the cash payments related to these expenses will be paid out during the fourth quarter of 2023. The reduction in force was completed by the end of October 2023. Additionally, the Company has begun the process of closing down several of its facilities. The carrying value of the right of use asset and leasehold improvements of these facilities is $0.7 million and $0.5 million, respectively, and the period of amortization would be accelerated to the end of term.