Leases (Tables)

6 Months Ended

Jun. 30, 2023

Leases

Summary of Quantitative Information About Operating Leases

The following summarizes quantitative information about our operating and finance leases (amounts in thousands):

	For the three months ended				For the six months ended
	June 30, 2023		June 30, 2022		June 30, 2023		June 30, 2022
Operating leases:
Operating lease cost	$	298	$	204	$	502	$	408
Total operating lease expense	$	298	$	204	$	502	$	408
Finance leases:
Interest lease cost	$	20	$	—	$	20	$	—
Depreciation expense	50		—		50		—
Total finance lease expense	$	70	$	—	$	70	$	—

Other information related to the Company’s leases is shown below (dollar amounts in thousands):

	For the six months ended
	June 30, 2023			June 30, 2022
Operating cash flows used in operating leases	$	(397)		$	(387)
	June 30, 2023			December 31, 2022
Weighted-average remaining lease term – operating leases (in years)	7.9			8.5
Weighted-average remaining lease term – finance leases (in years)	4.8			NA
Weighted-average discount rate – operating leases	10		%	10		%
Weighted-average discount rate – finance leases	8		%	NA
Finance lease asset (1)	$	1,445		NA

(1) As of June 30, 2023, the Company had recorded accumulated depreciation of approximately $50,000 for the finance lease asset. Finance lease assets are recorded within property and equipment, net on the Company’s condensed consolidated balance sheets.

Schedule of Maturity of Operating Leases

Minimum lease payments over the remaining lease periods as of June 30, 2023 are as follows (amounts in thousands):

	Operating Lease		Finance Lease		Total
Remaining periods in the year ended December 31, 2023	$	465	$	181	$	646
Year Ended December 31, 2024	953		364		1,317
Year Ended December 31, 2025	978		364		1,342
Year Ended December 31, 2026	942		364		1,306
Year Ended December 31, 2027	956		364		1,320
Thereafter	3,650		121		3,771
Total lease payments	7,944		1,758		9,702
Less present value discount	(2,551)		(304)		(2,855)
Total	$	5,393	$	1,454	$	6,847