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Leases (Tables)
6 Months Ended
Jun. 30, 2022
Leases [Abstract]  
Summary of Components of Lease Cost

The components of lease cost for operating leases were as follows:

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Operating leases

 

 

 

 

 

 

 

 

 

 

 

 

Operating lease cost

 

$

119,458

 

 

$

108,024

 

 

$

238,916

 

 

$

275,703

 

Variable lease cost

 

 

24,086

 

 

 

20,333

 

 

 

51,612

 

 

 

46,484

 

Total rent expense

 

$

143,544

 

 

$

128,357

 

 

$

290,528

 

 

$

322,187

 

The components of lease cost for financing leases were as follows:

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Financing leases

 

 

 

 

 

 

 

 

 

 

 

 

Amortization of right-of-use assets

 

$

4,363

 

 

$

5,958

 

 

$

8,981

 

 

$

13,057

 

Interest on lease liability

 

 

1,023

 

 

 

1,510

 

 

 

2,161

 

 

 

3,175

 

Total financing lease cost

 

$

5,386

 

 

$

7,468

 

 

$

11,142

 

 

$

16,232

 

Summary of Other Information Related to Operating Leases

The table below summarizes other information related to the Company’s operating leases:

 

 

Six Months Ended June 30,

 

 

 

2022

 

 

2021

 

Cash paid for amounts included in measurement of operating lease liabilities

 

$

239,156

 

 

$

287,581

 

Weighted-average remaining lease term – operating leases

 

 

2.6

 

 

 

0.6

 

Weighted-average discount rate – operating leases

 

 

5.8

%

 

 

6.3

%

Summary of Remaining Maturities of Operating Leases

Remaining maturities of the Company’s operating leases, included in operating lease liabilities – current and other non-current liabilities, in the condensed consolidated balance sheets as of June 30, 2022 are as follows:

2022

 

 

 

$

242,392

 

2023

 

 

 

 

484,719

 

2024

 

 

 

 

484,631

 

2025

 

 

 

 

40,382

 

Total

 

 

 

 

1,252,124

 

Less present value discount

 

 

 

 

(91,129

)

Total operating lease liabilities

 

 

 

 

1,160,995

 

Less operating lease liabilities - current

 

 

 

 

(429,200

)

Operating lease liabilities - non-current

 

 

 

$

731,795

 

Summary of Other Information Related to Financing Leases

The table below summarizes other information related to the Company’s financing leases:

 

 

Six Months Ended June 30,

 

 

 

2022

 

 

2021

 

Weighted-average remaining lease term – financing leases

 

 

2.4

 

 

 

3.2

 

Weighted-average discount rate – financing leases

 

 

9.77

%

 

 

9.77

%

Summary of Remaining Maturities of Financing Leases

As of June 30, 2022, remaining maturities of the Company’s financing leases are as follows:

2022

 

 

 

$

9,471

 

2023

 

 

 

 

18,396

 

2024

 

 

 

 

16,080

 

Total

 

 

 

 

43,947

 

Less present value discount

 

 

 

 

(4,920

)

Financing lease liabilities, net

 

 

 

$

39,027