Leases

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Leases

Leases

Effective January 1, 2019, the Company adopted the lease accounting standard, ASC Topic 842, Leases, using the modified retrospective method of applying the new standard at the adoption date. In addition, the Company elected to apply the package of practical expedients permitted under the transition guidance within the standard. This allowed the Company to carry forward historical lease classification. Adoption of the standard resulted in the recording of lease right-of-use assets and corresponding lease liabilities of approximately $4.0 million.

A significant portion of the Company's operating lease portfolio includes office space, research and development facilities, IT equipment, and automobiles. The majority of the Company's leases have remaining lease terms of one to four years. Substantially all lease expense is presented within SG&A in the consolidated statements of operations.

The number and corresponding value of operating leases increased in 2021 due to the Punchh Acquisition.

(in thousands)	Year Ended December 31,
	2021		2020		2019
Total lease expense	$	2,350	$	1,358	$	1,632

Supplemental cash flow information related to leases is as follows:

	December 31,
(in thousands)	2021		2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from leases	$	2,322	$	1,334
Right-of-use assets obtained in exchange for new operating lease liabilities	$	3,250	$	801

Supplemental balance sheet information related to leases is as follows:

	December 31,
(in thousands)	2021			2020
Operating leases
Total lease right-of-use assets	$	4,348		$	2,569
Lease liabilities - current portion	$	2,266		$	1,200
Lease liabilities - net of current portion	2,440			1,462
Total lease liabilities	$	4,706		$	2,662
Weighted-average remaining lease term
Operating leases	2.7 years			2.6 years
Weighted-average discount rate
Operating leases	4.0		%	4.0		%

The following table summarizes future lease payments for operating leases at December 31, 2021:

(in thousands)	Operating leases
2022	$	2,386
2023	1,361
2024	630
2025	566
2026	120
Thereafter	—
Total lease payments	5,063
Less: portion representing imputed interest	(357)
Total	$	4,706