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Leases (Tables)
12 Months Ended
Dec. 31, 2021
Leases [Abstract]  
Schedule of Lease Balance Sheet Information

The following table presents the lease balances within the consolidated balance sheets (in thousands):

 

 

 

 

December 31,

 

 

December 31,

 

Leases

 

Classification

 

2021

 

 

2020

 

 

 

 

 

 

 

 

 

 

Assets

 

 

 

 

 

 

 

 

Operating

 

Operating leases right-of-use assets

 

 

4,284

 

 

$

5,319

 

Finance

 

Property and equipment, net

 

 

33

 

 

 

58

 

Total lease assets

 

 

 

 

4,317

 

 

 

5,377

 

Liabilities

 

 

 

 

 

 

 

 

Current

 

 

 

 

 

 

 

 

Operating

 

Lease liabilities

 

 

1,509

 

 

 

1,247

 

Finance

 

Lease liabilities

 

 

20

 

 

 

27

 

Noncurrent

 

 

 

 

 

 

 

 

Operating

 

Long-term lease liabilities

 

 

3,625

 

 

 

5,042

 

Finance

 

Long-term lease liabilities

 

 

17

 

 

 

37

 

Total lease liabilities

 

 

 

$

5,171

 

 

$

6,353

 

Schedule of Component of Lease Expense For the years ended December 31, 2021 and 2020, the components of operating and finance lease expenses were as follows (in thousands):

 

 

 

 

Year Ended December 31,

 

Lease Cost

 

Classification

 

2021

 

 

2020

 

 

 

 

 

 

 

 

 

 

Operating lease cost

 

Cost of sales

 

$

14

 

 

$

13

 

 

 

Research and development

 

 

297

 

 

 

180

 

 

 

Selling, general and administrative

 

 

1,608

 

 

 

1,544

 

 

 

 

 

 

 

 

 

 

Finance lease cost

 

Research and development

 

 

 

 

 

115

 

 

 

Selling, general and administrative

 

 

25

 

 

 

44

 

 

 

 

 

 

 

 

 

 

Finance lease cost

 

Interest expense

 

 

5

 

 

 

14

 

Schedule of Maturities of Lease Liabilities

Maturities of the Company’s operating and finance lease liabilities as of December 31, 2021, were as follows (in thousands):

 

 

Operating

 

 

Finance

 

Year Ended December 31,

 

Leases

 

 

Leases

 

2022

 

 

1,976

 

 

 

23

 

2023

 

 

1,683

 

 

 

18

 

2024

 

 

1,456

 

 

 

 

2025

 

 

951

 

 

 

 

2026

 

 

79

 

 

 

 

Total lease payments

 

 

6,145

 

 

 

41

 

Less: imputed interest

 

 

1,011

 

 

 

4

 

Total lease liabilities

 

$

5,134

 

 

$

37

 

 

 

 

 

 

 

 

Summary of Weighted Average Remaining Lease Term and Discount Rate

The weighted average remaining lease term and weighted average discount rate used to determine lease liabilities related to the Company’s operating and finance leases as of December 31, 2021 and 2020 were:

 

 

 

December 31,

 

December 31,

Lease Term and Discount Rate

 

2021

 

2020

Weighted average remaining lease term (years)

 

 

 

 

Operating leases

 

3.30

 

4.21

Finance leases

 

1.72

 

2.42

Weighted average discount rate

 

 

 

 

Operating leases

 

10.5%

 

10.5%

Finance leases

 

10.5%

 

10.5%