Leases (Tables)

9 Months Ended

Sep. 30, 2022

Leases [Abstract]

Schedule of Supplemental Balance Sheet Information Related to Operating Leases

Supplemental balance sheet information related to operating leases is as follows:

(In thousands)	Classification	September 30, 2022		December 31, 2021
Assets
Operating lease asset	Other assets	$	28,081	$	4,922
Total lease asset		$	28,081	$	4,922
Liabilities
Current operating lease liability	Accrued expenses	$	6,604	$	1,730
Non-current operating lease liability	Non-current lease obligations		21,490		3,269
Total lease liability		$	28,094	$	4,999

Components of Lease Expense included in Consolidated Statements of Loss

The components of lease expense included in the Condensed Consolidated Statements of Loss were as follows:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(In thousands)	2022		2021		2022		2021
Selling, general and administrative expenses	$	1,444	$	196	$	1,704	$	645
Research and development expenses		228		261		719		815
Cost of sales		20		14		59		38
Total operating lease expense	$	1,692	$	471	$	2,482	$	1,498

Schedule of Maturity of Operating Lease Liabilities

As of September 30, 2022 and December 31, 2021, operating lease liabilities included on the Condensed Consolidated Balance Sheets by future maturity were as follows:

(In thousands)	September 30, 2022			December 31, 2021
2022	$	2,209		$	1,767
2023		8,421			1,419
2024		7,098			1,188
2025		5,838			710
2026		3,354			—
Thereafter		5,107			—
Total lease payments		32,027			5,084
Less: Interest		(3,933	)		(85	)
Present value of lease liabilities	$	28,094		$	4,999

Schedule of Weighted Average Remaining Lease Terms and Weighted Average Discount Rates

The following table provides information about our weighted average lease terms and weighted average discount rates:

	As of September 30, 2022
Weighted average remaining lease term (in years)
Operating leases with USD functional currency		1.6
Operating leases with Euro functional currency		4.5
Weighted average discount rate
Operating leases with USD functional currency		3.93	%
Operating leases with Euro functional currency		4.05	%

Net Investment in Sales-Type Leases

We are the lessor in sales-type lease arrangements for network equipment, which consisted of the following:

	As of		As of
(In thousands)	September 30, 2022		December 31, 2021
Current minimum lease payments receivable(1)	$	11	$	92
Non-current minimum lease payments receivable(2)		—		4
Total minimum lease payments receivable		11		96
Less: Current unearned revenue(1)		5		70
Less: Non-current unearned revenue(2)		—		1
Net investment in sales-type leases	$	6	$	25

(1)Included in other receivables on the Condensed Consolidated Balance Sheets.

(2)Included in other assets on the Condensed Consolidated Balance Sheets.