January 1, 2022
(in thousands)

Prior to adoption of new leasing standards

Adjustment for adoption of new leasing standards

As adjusted

Right-of-use assets (1)

$

—

$

3,422

$

3,422

Deferred rent (2)

$

105

$

(105

)

$

—

Operating lease liability (3)

$

—

$

645

$

645

Operating lease liability, net of current portion (3)

$

—

$

2,882

$

2,882

(1)          Represents capitalization of operating right-of-use assets

(2)          Represents reclassification of deferred rent and incentives as a reduction of operating right-of-use assets

(3)          Represents recognition of operating right-of-use assets