Leases (Tables)

3 Months Ended

Mar. 31, 2024

Leases [Abstract]

Schedule of Right of Use Asset and Related Lease Liability and Supplemental Cash Flow Information

Because the rate implicit in the lease is not readily determinable, we used our incremental borrowing rate to determine the present value of lease payments. Information related to our right-of-use asset and related lease liability were as follows:

	March 31,		December 31,
(in thousands)	2024		2023
Operating right-of-use asset, net	$	6,082	$	6,288
Operating lease liability, current portion	$	795	$	780
Operating lease liability, net of current portion		5,503		5,708
	$	6,298	$	6,488

Schedule of Future Maturity of Lease Liability

Operating lease expense is recognized on a straight-line basis over the lease term. Our operating lease expense was $265 and $266 for the three months ended March 31, 2024 and 2023, respectively. At March 31, 2024, and for the subsequent years ended December 31, future maturity is as follows:

(in thousands)
2024 (remaining)	$	757
2025		1,035
2026		1,064
2027		1,093
2028		1,123
Thereafter		2,037
Future lease payments, gross		7,109
Less: Imputed interest		(811	)
Operating lease liability	$	6,298