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Leases
12 Months Ended
Dec. 31, 2021
Leases [Abstract]  
Leases

6.

Leases

In December 2020, the Company entered into a 48-month operating lease agreement to lease office space in San Mateo, California. The lease commenced on April 30, 2021 and expires on April 30, 2025.

The Company also has an operating lease agreement to lease office space in Vancouver, Canada that expires on February 28, 2023. In December 2020, the Company entered into an agreement to sublet the entire office premises to a third party until February 27, 2023. Pursuant to the sublease agreement, the subtenant will pay base rent of $0.2 million per annum to the Company and all operating costs related to the office space. The Company recorded an impairment charge of $0.1 million during the year ended December 31, 2020.

The components of lease expense and related cash flows for the years ended December 31, 2021, 2020 and 2019 were as follows:

 

 

 

Year ended December 31,

 

 

 

2021

 

 

2020

 

 

2019

 

 

 

(in thousands)

 

Operating lease cost

 

$

299

 

 

$

195

 

 

$

203

 

Short-term lease cost

 

 

27

 

 

 

42

 

 

 

117

 

 

 

 

326

 

 

 

237

 

 

 

320

 

Operating cash flows used for operating leases

 

$

286

 

 

$

212

 

 

$

198

 

 

 

As of December 31, 2021, the weighted average remaining lease term and discount rate for the operating leases are 2.9 years and 4.7%, respectively.

As of December 31, 2021, maturities of lease liability due under the lease agreement are as follows:

 

Years Ending December 31:

 

Operating

Leases

 

 

 

(in thousands)

 

2022

 

 

397

 

2023

 

 

223

 

2024

 

 

230

 

2025

 

 

58

 

Total lease payments

 

 

908

 

Less imputed interest

 

 

(55

)

Total

 

$

853

 

These amounts have not been reduced by future base rent due under the Vancouver sublease of $0.2 million. In addition to base rent, the Vancouver lease requires payment of operating costs. These costs are also not included in the table above or the sublease amount.