Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.22.2
Leases (Tables)
 6 Months Ended
Jun. 30, 2022
Leases  
Schedule of Components of Lease Cost

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

 

    2022     2021     2022     2021  
    Three Months Ended     Six Months Ended  
    June 30,     June 30,  
    2022     2021     2022     2021  
                         
Operating Leases:                                
Lease cost   $ 157     $ 115     $ 314     $ 226  
                                 
Finance Leases:                                
Amortization of ROU assets     44       58       91       117  
Interest on lease liability     10       18       21       37  
Finance Leases     54       76       112       154  
                                 
Short-term lease rent expense     3       3       7       6  
                                 
Total lease cost     214       194       433       386  
Schedule of Weighted Average Lease

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

 

    Operating Leases     Finance Leases  
Weighted average remaining lease terms (years)     6.5       3.1  
                 
Weighted average discount rate     7.7 %     6.0 %
Schedule of Operating and Finance Lease Liability Maturity

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

 

    Operating Leases     Finance Leases  
2022 (Remaining)   $ 287     $ 157  
2023     556       174  
2024     416       170  
2025     324       147  
2026     301       18  
2027 and thereafter     942       —  
Total undiscounted lease payments     2,826       666  
Less: Imputed interest     (621 )     (53 )
Present value of lease payments   $ 2,205     $ 613  
                 
Current portion of operating lease obligations   $ 421     $ —  
Long-term operating lease obligations, less current portion   $ 1,784     $ —  
Current portion of finance lease obligations   $ —     $ 219  
Long-term finance lease obligations, less current portion   $ —     $ 394  
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 six months ended June 30, 2022 and 2021 (in thousands):

 

    2022     2021     2022     2021  
    Three Months Ended     Six Months Ended  
    June 30,     June 30,  
    2022     2021     2022     2021  
Cash paid for amounts included in the measurement of lease liabilities:                                
Operating cash flow used in operating leases   $ 143     $ 103     $ 286     $ 204  
Operating cash flow used in finance leases   $ 10     $ 18     $ 21     $ 37  
Financing cash flow used in finance leases   $ 661     $ 91     $ 718     $ 205  
                                 
ROU assets obtained in exchange for lease obligations for:                                
Finance liabilities   $ —     $ —     $ 147     $ —  
Operating liabilities   $ —     $ 166     $ —     $ 166