LEASES (Tables)

6 Months Ended

Jun. 30, 2022

LEASES

Schedule of lease cost

	Three months ended				Six months ended
	June 30,		June 30,		June 30,
(in thousands)	2022		2021		2022		2021
Operating lease cost	$	524	$	531	$	1,038	$	1,063
Net lease cost	$	524	$	531	$	1,038	$	1,063

Schedule of classification of lease liabilities

	June 30,		December 31,
(in thousands)	2022		2021
Liabilities
Lease liability current portion	$	1,480	$	1,437
Lease liability non-current		9,977		9,847
Total lease liability	$	11,457	$	11,284

Schedule of lease liability maturity

As of June 30, 2022, the maturities of lease liabilities were as follows:

	Operating
(in thousands)		leases
Remainder of 2022	$	1,050
2023		2,125
2024		2,162
2025		1,899
2026		1,932
After 2027		8,121
Total lease payments		17,289
Less: interest		(5,832)
Present value of lease liabilities(*)	$	11,457

(*) As our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at commencement date and considering the term of the lease to determine the present value of lease payments. We used the incremental borrowing rate of 10.25% on February 28, 2019, for operating leases that commenced prior to that date through December 31, 2021. We used an incremental borrowing rate of 5.65% for the NC lease.