Leases (Tables)

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Schedule of Supplemental Balance Sheet Information Related to Leases

The table below sets forth information regarding the Company’s lease agreements with an initial term of greater than 12 months (dollars in thousands):

	Year ended December 31,
	2022			2021
Operating lease right-of-use assets, net	$	7,671		$	7,991
Operating lease liabilities	$	7,768		$	8,159
Weighted-average remaining lease term (in years)		9.3			9.7
Weighted-average discount rate(1)		13.1	%		13.4	%

(1)As the Company’s leases do not provide an implicit rate, the Company derives its incremental borrowing rate from information available at commencement date in determining the present value of future lease payments. To estimate incremental borrowing rates, the Company considers various factors, including the lowest grade of debt available in the marketplace for the same term as the associated lease(s).

Schedule of Lease Expense

The table below sets forth information regarding the Company's lease costs, which are included as general and administrative expenses in the Company's audited Consolidated Statements of Operations for the periods presented (in thousands):

	Year ended December 31,
	2022		2021
Short-term operating lease expense	$	1,191	$	440
Operating lease expense		939		563
Total lease expense	$	2,130	$	1,003

Schedule of Maturities of Operating Lease Liabilities

As of December 31, 2022, the maturities of the Company’s operating lease liabilities were as follows (in thousands):

2023	$	1,632
2024		1,543
2025		1,546
2026		1,563
2027		1,348
Thereafter		6,011
Total lease payments		13,643
Less effects of discounting		(5,875	)
Present value of lease liabilities	$	7,768