9. LEASES

The Company is party to operating leases for all of its offices. Many leases contain options to renew and extend lease terms and options to terminate leases early. Reflected in the right-of-use asset and lease liability on the consolidated balance sheets are the periods provided by renewal and extension options that the Company is reasonably certain to exercise, as well as the periods provided by termination options that the Company is reasonably certain not to exercise. All long-term leases identified by the Company are classified as operating leases. Lease expenses related to long-term leases were $1,092 and $770 for the three months ended September 30, 2023 and 2022, respectively, and $2,673 and $2,138 for the nine months ended September 30, 2023 and 2022, respectively. Short-term lease expense and variable lease expense were not material for the three and nine months ended September 30, 2023 and 2022.

On July 28, 2023, the Company entered into a sublease for 12,765 square feet of the Company's rental space in New York, New York, which does not include the Company's headquarters. As a result, $377 of impairment charges were recognized during the third quarter of fiscal year 2023 relating to the impairment of the right of use asset and property and equipment related to the site. Net rental income of $111 was recorded in other income for the three and nine months ended September 30, 2023 and was not material for the three and nine months ended September 30, 2022.