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Leases (Tables)
9 Months Ended
Sep. 30, 2020
Leases [Abstract]  
Schedule of Right-of-Use Assets and the Corresponding Lease Liabilities Information regarding the Company's right-of-use assets and the corresponding lease liabilities are as follows:

 

 

September 30,

2020

 

 

December 31,

2019

 

(In thousands)

 

 

 

 

 

 

 

 

Right-of-use assets

 

$

7,011

 

 

$

8,411

 

Lease liabilities

 

 

7,367

 

 

 

8,792

 

 

Schedule of Rent Expenses The Company’s rent expense is as follows:

 

Three months ended

September 30,

 

 

Nine months ended

September 30,

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

(In thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating lease expense

$

675

 

 

$

764

 

 

$

2,194

 

 

$

2,331

 

Variable and short-term lease expense

 

35

 

 

 

36

 

 

 

131

 

 

 

223

 

Rent expense

$

710

 

 

$

800

 

 

$

2,325

 

 

$

2,554

 

 

Schedule of Future Minimum Lease Payments to be Paid under Operating Leases The future minimum lease payments to be paid under operating leases are as follows:

 

 

September 30,

2020

 

(In thousands)

 

 

 

 

2020 (remaining three months)

 

$

650

 

2021

 

 

2,383

 

2022

 

 

1,335

 

2023

 

 

1,232

 

2024

 

 

1,197

 

Thereafter

 

 

1,826

 

Total future lease payments

 

 

8,623

 

Present value adjustment

 

 

(1,256

)

Present value of future lease payments

 

$

7,367