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Leases (Tables)
12 Months Ended
Dec. 31, 2021
Leases  
Schedule of operating and finance lease right-of-use assets and related lease obligations

December 31,

December 31,

Leases

Classification

2021

    

2020

    

 

Assets

(in thousands)

 

Operating leases

Operating lease assets

$

9,242

$

4,542

Finance lease

Finance lease assets *

 

19,238

 

20,544

Total leased assets

$

28,480

$

25,086

Liabilities

Current

Operating

Other current liabilities

$

4,716

$

2,573

Finance

Current portion of finance lease obligation

979

756

Noncurrent

Operating

Other long-term liabilities

4,357

1,949

Finance

Finance lease obligation

 

46,415

 

47,393

Total lease liabilities

$

56,467

$

52,671

* Finance lease assets are recorded net of accumulated depreciation of $48.6 million and includes $0.7 million of prepaid financing costs as of December 31, 2021. Finance lease assets are recorded net of accumulated depreciation of $48.4 million and includes $0.7 million of prepaid financing costs as of December 31, 2020.

Schedule of lease costs

Year ended

 

December 31,

Lease cost

Classification

    

2021

    

2020

    

2019

 

Operating lease cost

(in thousands)

 

Service

Cost of revenue

$

2,978

$

2,402

$

2,315

Research and development

Operating expenses

 

430

 

491

 

313

Sales and marketing*

Operating expenses

 

1,605

 

1,389

 

1,378

General and administrative*

Operating expenses

 

996

 

877

 

788

Total operating lease cost

$

6,009

$

5,159

$

4,794

Finance lease cost

Depreciation of leased assets

Cost of revenue, R&D, Sales and marketing and G&A

$

1,306

$

1,336

$

1,348

Interest on lease liabilities

Interest expense

 

5,086

 

5,211

 

5,155

Total finance lease cost

$

6,392

$

6,547

$

6,503

Total lease cost

$

12,401

$

11,706

$

11,297

* Sales and marketing and general and administrative expense also includes short-term lease and variable lease costs of approximately $1.9 million, $1.2 million and $0.9 million for the twelve months ended December 31, 2021, 2020 and 2019, respectively.

Schedule of future minimum operating and finance leases

Finance

Operating

    

Total

 

Maturity of Lease Liabilities

Leases

Leases

Leases

(in thousands)

2022

$

5,980

$

4,939

$

10,919

2023

 

6,114

 

2,610

 

8,724

2024

 

6,252

 

902

 

7,154

2025

 

5,930

 

700

 

6,630

2026

6,008

464

6,472

Thereafter

67,715

73

67,788

Total lease payments

$

97,999

$

9,688

$

107,687

Less interest portion*

(50,605)

(615)

(51,220)

Finance lease and operating lease obligations

$

47,394

$

9,073

$

56,467

* Finance lease interest calculated using the implied interest rate; operating lease interest calculated using estimated corporate borrowing rate.

Schedule of weighted-average remaining lease term and discount rates

December 31,

Lease term and discount rate

    

2021

Weighted-average remaining lease term (years):

Operating leases

2.6

Finance leases

 

15.1

Weighted-average discount rate:

Operating leases

 

4.5%

Finance leases

 

10.5%

Schedule of cash outflows by lease type

Year ended December 31,

Cash paid for amounts included in the measurement of lease liabilities

    

2021

    

2020

    

2019

(in thousands)

Operating cash outflows from operating leases

$

6,009

$

5,159

$

4,794

Operating cash outflows from finance leases

 

5,086

 

5,321

 

5,594

Financing cash outflows from finance leases

 

763

 

399

 

Operating lease assets obtained in exchange for operating lease liabilities

 

8,670

 

2,369

 

5,849

Finance lease assets obtained in exchange for new finance lease liabilities