Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.23.2
Leases (Tables)
 6 Months Ended
Jun. 30, 2023
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, 2023 and 2022 were as follows (in thousands):

 

                                 
    Three Months Ended     Six Months Ended  
    June 30,     June 30,  
    2023     2022     2023     2022  
                         
Operating Leases:                                
Lease cost   $ 156     $ 157     $ 313     $ 314  
                                 
Finance Leases:                                
Amortization of ROU assets     38       44       76       91  
Interest on lease liability     7       10       13       21  
 Finance leases     45       54       89       112  
                                 
Short-term lease rent expense     1       3       1       7  
                                 
Total lease cost     202       214       403       433  
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, 2023 were:

 

    Operating Leases     Finance Leases  
Weighted average remaining lease terms (years)     6.0       2.2  
                 
Weighted average discount rate     7.9 %     6.0 %

 

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, 2023 to the operating and finance lease liabilities recorded on the balance sheet (in thousands):

 

    Operating Leases     Finance Leases  
2023   $ 267     $ 115  
2024     416       222  
2025     324       200  
2026     301       47  
2027     286       12  
2028 and thereafter     656       2  
Total undiscounted lease payments     2,250       598  
Less: Imputed interest     (466 )     (49 )
Present value of lease payments   $ 1,784     $ 549  
                 
Current portion of operating lease obligations   $ 385     $ —  
Long-term operating lease obligations, less current portion   $ 1,399     $ —  
Current portion of finance lease obligations   $ —     $ 199  
Long-term finance lease obligations, less current portion   $ —     $ 350  
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, 2023 and 2022 (in thousands):

 

                                 
    Three Months Ended     Six Months Ended  
    June 30,     June 30,  
    2023     2022     2023     2022  
Cash paid for amounts included in the measurement of lease liabilities:                                
Operating cash flow used in operating leases   $ 146     $ 143     $ 290     $ 286  
Operating cash flow used in finance leases   $ 7     $ 10     $ 13     $ 21  
Financing cash flow used in finance leases   $ 40     $ 661     $ 81     $ 718  
ROU assets obtained in exchange for lease obligations for:                                
Finance liabilities   $ 107     $ —     $ 157     $ 147