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Leases (Tables)
3 Months Ended
Mar. 31, 2022
Lessee Disclosure [Abstract]  
Components of Lease Expense

The components of lease expense included in the Company’s condensed consolidated statements of operations include (in thousands):

 

 

Three Months Ended March 31,

 

 

 

2022

 

 

2021

 

 

 

(unaudited)

 

Operating lease expense

 

$

261

 

 

$

261

 

Variable lease expense

 

 

132

 

 

 

128

 

Total lease expense, net

 

$

393

 

 

$

389

 

Summary of Weighted Average Remaining Lease Term and Weighted Average Discount Rate

Supplemental cash flow information related to leases under which the Company is the lessee was as follows (amounts in thousands):

 

 

Three Months Ended March 31,

 

 

 

2022

 

 

2021

 

 

 

(unaudited)

 

Cash paid for amounts included in the measurement of operating leases

 

$

377

 

 

$

316

 

 

Supplemental Cash Flow Information Related to Leases

The weighted average remaining lease term and weighted average discount rate for operating leases as of March 31, 2022 and 2021 were as follows:

 

 

Three Months Ended March 31,

 

 

 

2022

 

 

2021

 

 

 

(unaudited)

 

Weighted average remaining lease term (in years)

 

 

3.25

 

 

 

4.25

 

Weighted average discount rate percentage

 

 

3.50

%

 

 

3.50

%

Maturities of Operating Lease Liabilities

As of March 31, 2022, future minimum payments under the Company's non-cancelable operating lease under ASC 842 were as follows (in thousands):

 

 

Operating
lease

 

Nine months ending December 31, 2022

 

$

1,178

 

2023

 

 

1,636

 

2024

 

 

1,685

 

2025

 

 

845

 

Thereafter

 

 

 

Total future lease payments

 

 

5,344

 

Less: imputed interest

 

 

(304

)

Total operating lease liabilities

 

$

5,040