Leases (Tables)

6 Months Ended

Jun. 30, 2021

Leases [Abstract]

Lease, Cost

Lease expense is included in office and technology expenses in the unaudited Consolidated Statements of Operations. Information regarding the Company’s operating leases follows:

	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2021		2020		2021		2020
Operating leases	$	326	$	321	$	652	$	641
Short-term leases (b)	92		36		156		66
Lease expense	$	418	$	357	$	808	$	707
Sub-lease income	—		—		—		—
Lease cost	$	418	$	357	$	808	$	707

(b) Leases with an initial term of twelve months or less are not recorded on the unaudited Consolidated Balance Sheets.

Lessee, Operating Lease Liability, Current and Non-current

Components of the operating lease liability presented on the unaudited Consolidated Balance Sheets are as follows:

(in thousands)	As of June 30, 2021		As of December 31, 2020
Current:
Operating lease liabilities	$	1,027	$	1,068
Non-current:
Operating lease liabilities	2,483		2,601
Total operating lease liabilities	$	3,510	$	3,669

Lessee, Operating Lease, Liability, Maturity

The future minimum lease payments under operating leases that have initial or remaining noncancelable lease terms in excess of one year as of June 30, 2021, are summarized as follows:

Year Ended (in thousands)
2021	$	626
2022	1,043
2023	752
2024	580
2025	393
Thereafter	450
Total undiscounted payments	$	3,844
Less: present value adjustment	(334)
Operating lease liabilities	$	3,510

Operating Lease Other Information

Supplemental lease information is as follows:

	As of June 30, 2021		As of December 31, 2020
Weighted average remaining lease term (years)	4.22		4.24
Weighted average discount rate	4.5	%	4.6	%