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Operating Leases (Tables)
6 Months Ended
Jun. 30, 2022
Operating Leases  
Schedule of operating lease expense recognized in financial statements

The table below summarizes the amounts recognized in the condensed consolidated financial statements related to operating leases for the periods presented (in thousands):

For the Three Months Ended

For the Six Months Ended

June 30, 

June 30, 

    

2022

    

2021

    

2022

    

2021

Rent expense for long-term operating leases

$

337

$

388

$

713

$

776

Rent expense for short-term leases

 

144

 

34

261

84

Total rent expense

$

482

$

422

$

974

$

860

Schedule of net present value of operating lease liability

The following table presents the maturity profile of the Company’s operating lease liabilities based on the contractual undiscounted payments with a reconciliation of these amounts to the remaining net present value of the operating lease liability reported in the condensed consolidated balance sheet as of June 30, 2022 (in thousands):

Year

    

Amount

2022

$

1,160

2023

 

865

2024

 

825

2025

 

840

2026

 

855

2027 and thereafter

 

1,953

Total lease payments

 

6,498

Less: Interest

 

(1,635)

Net present value of lease liabilities

$

4,863

 

Current portion

$

776

Long-term portion

 

4,087

Total

$

4,863

Schedule of weighted average remaining lease terms and discount rates

The weighted average remaining lease terms and discount rates for all of the Company’s operating leases as of June 30, 2022 were as follows:

Weighted-average lease term remaining

    

48 months

Weighted-average discount rate

 

8.68

%