Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.22.2.2
Leases (Tables)
 9 Months Ended
Sep. 30, 2022
Leases  
Schedule of Components of Lease Cost

The components of lease cost for the Company’s leases for the three and nine months ended September 30, 2022 and 2021 were as follows (in thousands):

 

    2022     2021     2022     2021  
    Three Months Ended     Nine Months Ended  
    September 30,     September 30,  
    2022     2021     2022     2021  
                         
Operating Leases:                                
Lease cost   $ 157     $ 115     $ 471     $ 341  
                                 
Finance Leases:                                
Amortization of ROU assets     42       53       133       170  
Interest on lease liability     9       50       30       85  
Finance Leases     51       103       163       255  
                                 
Short-term lease rent expense     —       4       7       10  
                                 
Total lease cost   $ 208     $ 222     $ 641     $ 606  
Schedule of Weighted Average Lease

The weighted average remaining lease term and the weighted average discount rate for operating and finance leases at September 30, 2022 were:

 

    Operating Leases     Finance Leases  
Weighted average remaining lease terms (years)     6.4       3.4  
                 
Weighted average discount rate     7.8 %     5.3 %
Schedule of Operating and Finance Lease Liability Maturity

The following table reconciles the undiscounted cash flows for the operating and finance leases at September 30, 2022 to the operating and finance lease liabilities recorded on the balance sheet (in thousands):

 

      Operating Leases     Finance Leases  
2022 (Remaining )   $ 144     $ 47  
2023       556       174  
2024       416       170  
2025       324       147  
2026       301       18  
2027 and thereafter       942       —  
Total undiscounted lease payments       2,683       556  
Less: Imputed interest       (579 )     (45 )
Present value of lease payments     $ 2,104     $ 511  
                   
Current portion of operating lease obligations     $ 431     $ —  
Long-term operating lease obligations, less current portion     $ 1,673     $ —  
Current portion of finance lease obligations     $ —     $ 154  
Long-term finance lease obligations, less current portion     $ —     $ 357  
Schedule of Supplemental Cash Flow and Other Information Related to Leases

Supplemental cash flow and other information related to our leases were as follows for the three and nine months ended September 30, 2022 and 2021 (in thousands):

 

    2022     2021     2022     2021  
    Three Months Ended     Nine Months Ended  
    September 30,     September 30,  
    2022     2021     2022     2021  
Cash paid for amounts included in the measurement of lease liabilities:                                
Operating cash flow used in operating leases   $ 144     $ 103     $ 430     $ 307  
Operating cash flow used in finance leases   $ 9     $ 50     $ 30     $ 85  
Financing cash flow used in finance leases   $ 103     $ 76     $ 821     $ 281  
                                 
ROU assets obtained in exchange for lease obligations for:                                
Finance liabilities   $ —     $ 323     $ 147     $ 323  
Operating liabilities   $ —       184     $ —     $ 350  
Reduction to ROU assets resulting from reassessment for:                                
Finance liabilities   $ —     $ (364 )   $ —     $ (364 )