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Leases (Tables)
6 Months Ended
Jun. 30, 2022
Leases  
Schedule of operating and finance lease right-of-use assets and related lease obligations

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June 30,

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December 31,

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Leases

Classification

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2022

    

2021

    

 

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Assets

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(in thousands)

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Operating leases

Operating lease assets

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$

10,879

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$

9,242

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Finance lease

Finance lease assets *

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18,590

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19,238

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Total leased assets

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$

29,469

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$

28,480

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Liabilities

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Current

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Operating

Other current liabilities

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$

4,983

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$

4,716

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Finance

Current portion of finance lease obligation

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1,101

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979

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Noncurrent

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Operating

Other long-term liabilities

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5,800

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4,357

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Finance

Finance lease obligation

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45,822

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46,415

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Total lease liabilities

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$

57,706

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$

56,467

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*Finance lease assets are recorded net of accumulated depreciation of $49.2 million and includes $0.6 million of prepaid financing costs as of June 30, 2022. Finance lease assets are recorded net of accumulated depreciation of $48.6 million and includes $0.7 million of prepaid financing costs as of December 31, 2021.
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Schedule of lease costs

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Three months ended

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Six months ended

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June 30,

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June 30,

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Lease cost

Classification

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2022

    

2021

    

2022

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2021

    

 

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Operating lease cost

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(in thousands)

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Product / Services

Cost of revenue

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$

1,306

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$

644

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$

2,516

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$

1,283

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Research and development

Operating expenses

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76

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122

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132

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252

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Sales and marketing*

Operating expenses

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368

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376

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787

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755

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General and administrative*

Operating expenses

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308

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201

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520

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461

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Total operating lease cost

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$

2,058

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$

1,343

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$

3,955

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$

2,751

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Finance lease cost

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Depreciation of leased assets

Cost of revenue, R&D, Sales and marketing and G&A

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$

325

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$

328

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$

648

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$

656

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Interest on lease liabilities

Interest expense

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1,274

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1,274

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2,532

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2,553

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Total finance lease cost

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$

1,599

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$

1,602

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$

3,180

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$

3,209

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Total lease cost

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$

3,657

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$

2,945

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$

7,135

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$

5,960

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* Sales and marketing and general and administrative expense also includes short-term lease and variable lease costs of approximately $0.6 million and $1.0 million for the three and six months ended June 30, 2022, respectively, and includes short-term and variable lease costs of approximately $0.4 million and $0.9 million for the three and six months ended June 30, 2021, respectively.

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Schedule of future minimum operating and finance leases

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Finance

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Operating

    

Total

 

Maturity of Lease Liabilities

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Leases

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Leases

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Leases

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(in thousands)

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2022

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$

2,995

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$

2,793

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$

5,788

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2023

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6,114

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3,837

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9,951

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2024

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6,252

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1,709

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7,961

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2025

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5,930

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1,398

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7,328

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2026

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6,008

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1,147

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7,155

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Thereafter

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67,715

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487

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68,202

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Total lease payments

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$

95,014

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$

11,371

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$

106,385

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Less interest portion*

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(48,091)

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(588)

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(48,679)

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Finance lease and operating lease obligations

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$

46,923

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$

10,783

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$

57,706

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* Finance lease interest calculated using the implied interest rate; operating lease interest calculated using estimated corporate borrowing rate.

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Schedule of weighted-average remaining lease term and discount rates

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June 30,

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Lease term and discount rate

    

2022

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Weighted-average remaining lease term (years):

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Operating leases

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3.1

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Finance leases

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14.6

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Weighted-average discount rate:

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Operating leases

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4.5%

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Finance leases

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10.5%

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Schedule of cash outflows by lease type

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Six months ended June 30,

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Cash paid for amounts included in the measurement of lease liabilities

    

2022

    

2021

    

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(in thousands)

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Operating cash outflows from operating leases

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$

3,955

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$

2,751

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Operating cash outflows from finance leases

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2,509

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2,556

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Financing cash outflows from finance leases

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475

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362

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Operating lease assets obtained in exchange for operating lease liabilities

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4,714

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4,192

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Finance lease assets obtained in exchange for new finance lease liabilities

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