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Leases (Tables)
3 Months Ended
Mar. 31, 2023
Lessee Disclosure [Abstract]  
Components of Lease Expense

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

 

 

Three Months Ended March 31,

 

 

 

2023

 

 

2022

 

Operating lease expense

 

$

261

 

 

$

261

 

Variable lease expense

 

 

147

 

 

 

132

 

Total lease expense, net

 

$

408

 

 

$

393

 

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

The weighted average remaining lease term and weighted average discount rate for operating leases were as follows:

 

 

As of March 31,

 

 

 

2023

 

 

2022

 

Weighted average remaining lease term (in years)

 

 

2.25

 

 

 

3.25

 

Weighted average discount rate percentage

 

 

3.50

%

 

 

3.50

%

Supplemental Cash Flow Information Related to Leases

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,

 

 

 

2023

 

 

2022

 

Cash paid for amounts included in the measurement of operating leases

 

$

407

 

 

$

377

 

Maturities of Operating Lease Liabilities

As of March 31, 2023, 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, 2023

 

$

1,229

 

2024

 

 

1,685

 

2025

 

 

845

 

Thereafter

 

 

 

Total future lease payments

 

 

3,759

 

Less: imputed interest

 

 

(151

)

Total operating lease liabilities

 

$

3,608