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Leases
3 Months Ended
Mar. 31, 2022
Leases [Abstract]  
Leases

7. Leases

The Company has historically entered into lease arrangements for its facilities. As of March 31, 2022, the Company had four operating leases with required future minimum payments. The Company’s leases generally do not include termination or purchase options.

Operating Leases

 

The following table contains a summary of the lease costs recognized under ASC 842 and other information pertaining to the Company’s operating leases for the three months ended March 31, 2022 and 2021:

 

 

Three Months Ended
March 31,

 

 

 

2022

 

 

2021

 

 

 

(in thousands)

 

Operating Leases

 

 

 

 

 

 

Lease Costs

 

 

 

 

 

 

Operating lease costs

 

$

615

 

 

$

419

 

Short-term lease costs

 

 

8

 

 

 

3

 

Variable lease costs

 

 

67

 

 

 

56

 

Total lease costs

 

$

690

 

 

$

478

 

 

 

 

Three Months Ended
March 31,

 

 

 

2022

 

 

2021

 

 

 

(in thousands, except as specified otherwise)

 

Other Operating Lease Information

 

 

 

 

 

 

Operating cash flows used for operating leases

 

$

475

 

 

$

299

 

Right-of-use assets obtained in exchange for new operating lease liability

 

$

56

 

 

$

 

Weighted-average remaining lease term (in years)

 

 

3.16

 

 

 

4.00

 

Weighted-average discount rate

 

 

4.0

%

 

 

5.0

%