Leases

9 Months Ended

Sep. 30, 2022

Leases [Abstract]

Leases

7. Leases

Operating leases

Leases classified as operating leases are included in operating lease right-of use, or ROU, assets, operating lease liabilities and operating lease liabilities, non-current, in the Company’s consolidated balance sheets. Cash paid for operating lease liabilities was $995 and $707 during the nine months ended September 30, 2022 and 2021, respectively, which is included in operating cash flows.

The components of lease expense were as follows:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
Lease cost	2022		2021		2022		2021
Operating lease cost	$	342	$	367	$	1,024	$	712
Short-term lease cost		-		4		3		92
Total	$	342	$	371	$	1,027	$	804

Variable lease expense for the three and nine months ended September 30, 2022 and 2021, respectively, was not material.

The weighted-average remaining lease term and the weighted average discount rate for operating leases were:

	As of September 30, 2022
Weighted-average discount rate		7.0	%
Weighted-average remaining lease term – operating lease (in months)		70

As of September 30, 2022, the expected annual minimum lease payments of the Company’s operating lease liabilities were as follows:

For Years Ending December 31,	Operating Lease Payments
2022 (excluding the nine months ended September 30, 2022)	$	332
2023		1,327
2024		1,327
2025		1,395
2026		1,429
Thereafter		2,234
Total operating lease payments		8,044
Less: imputed interest		1,441
Present value of future minimum lease payments	$	6,603