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LEASES

9 Months Ended

Sep. 30, 2020

LEASES

Lessee Accounting

The Company leases buildings, office equipment, and vehicles. The following table summarizes the Company's operating and finance lease balances (in thousands):


Leases	Balance Sheet Location	September 30, 2020		December 31, 2019
Assets
Operating	Operating lease right-of-use assets	$	5,804	$	5,726
Finance	Property and equipment, net	1,824		81
Total Leased Assets		$	7,628	$	5,807

Liabilities
Operating	Operating lease liabilities, current	$	2,099	$	1,745
	Operating lease liabilities, non-current	4,177		4,413
Finance	Deferred revenue, current, and other	291		47
	Other liabilities	283		37
Total Lease Liabilities		$	6,850	$	6,242

For the three and nine months ended September 30, 2020, operating lease expense was approximately $0.7 million and $2.0 million, respectively, including immaterial variable lease costs. For the three and nine months ended September 30, 2019, operating lease expense was approximately $0.6 million and $1.8 million, respectively, including immaterial variable lease costs.

For the three and nine months ended September 30, 2020, finance lease amortization expense was $0.1 million and $0.2 million, respectively. For the three and nine months ended September 30, 2019, finance lease amortization expense was $18 thousand and $32 thousand, respectively. For the three and nine months ended September 30, 2020, finance lease interest expense was $4 thousand and $7 thousand, respectively. For the three and nine months ended September 30, 2019, finance lease interest expense was $2 thousand and $2 thousand, respectively.

Supplemental cash flow information related to the Company's operating and finance leases for the nine months ended September 30, 2020 and 2019, respectively, was as follows (in thousands):


	Nine Months Ended September 30,
	2020		2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows - operating leases	$	1,617	$	1,344
Operating cash outflows - finance leases	$	6	$	2
Financing cash outflows - finance leases	$	166	$	25
ROU assets obtained in exchange for new lease obligations:
Operating leases	$	636	$	498
Finance leases	$	120	$	10

The following table presents the weighted average remaining lease term and weighted average discount rate related to the Company's leases:


	September 30, 2020		December 31, 2019
Weighted average remaining lease term:
Operating	3.3 years		3.8 years
Finance	3.0 years		2.0 years
Weighted average discount rate:
Operating	4.2	%	4.4	%
Finance	2.2	%	4.0	%

The following table presents the maturity of the Company's lease liabilities as of September 30, 2020 (in thousands):


Year Ending December 31,	Operating Leases		Finance Leases
Remainder of 2020	$	817	$	80
2021	1,932		265
2022	1,678		121
2023	1,893		47
2024	128		37
Thereafter	260		43
Total lease payments	6,708		593
Less: imputed interest	432		19
Total lease liabilities	$	6,276	$	574

Lessor Accounting

The Company enters into sales-type leases as part of our subscription agreements. The following table presents the maturity of the Company's lease receivables as of September 30, 2020 (in thousands):


Year Ending December 31,
Remainder of 2020	$	1,192
2021	4,915
2022	4,643
2023	3,929
2024	2,960
Thereafter	2,733
Total undiscounted future maturities	20,372
Less: interest	119
Total lease receivables	$	20,253

LEASES, LESSOR