Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.22.1
Leases (Tables)
 3 Months Ended
Mar. 31, 2022
Leases [Abstract]  
Lease Information
The following table summarizes total lease costs for the period. As the Company adopted ASC 842 as of January 1, 2022, rent expense recognized in accordance with ASC 840 is reported as operating lease cost for the comparative period in 2021.
Three Months Ended
March 31, 2022 March 31, 2021
Operating lease costs $ 723  $ 811 
Variable lease costs —  — 
Short-term lease costs 94  — 
Total lease costs $ 817  $ 811 
The following table presents other supplemental information related to the Company’s operating leases:
Three Months Ended
March 31, 2022
Cash paid for operating lease liabilities $ 607 
Right-of-use assets obtained in exchange for new lease liabilities 3,629 
Weighted average remaining lease term (in years) 3.2
Weighted average discount rate 4.2  %
Supplemental Balance Sheet Information
The following table presents supplemental balance sheet information related to the Company’s operating leases:
March 31, 2022 December 31, 2021
Right-of-use assets $ 12,985  $ — 
Short-term lease liabilities $ 2,871  $ — 
Long-term lease liabilities 10,373  — 
Total lease liabilities $ 13,244  $ — 
Schedule of Future Minimum Rental Payments for Operating Leases As of March 31, 2022, the future annual minimum lease payments for operating lease liabilities are as follows:
Year Total
Remainder of 2022 $ 2,183 
2023 3,068 
2024 2,850 
2025 2,266 
2026 1,631 
Thereafter
 3,183 
Total lease payments
 $ 15,181 
Less: imputed interest 1,937 
Present value of operating lease liabilities $ 13,244