Commitments and Contingencies

3 Months Ended

Mar. 31, 2019

Commitments And Contingencies Disclosure [Abstract]

Commitments And Contingencies

5. Commitments and Contingencies

Leases

The Company has operating leases for real estate and certain office equipment. Operating lease expense was $0.6 million for the three months ended March 31, 2019.

Supplemental cash flow information, as of March 31, 2019, related to operating leases was as follows (in thousands):

	Three Months Ended March 31, 2019
Cash paid within operating cash flows	$	572
Right-of-use assets recognized in exchange for new obligations	$	—

Supplemental balance sheet information, as of March 31, 2019, related to operating leases was as follow:

Weighted average remaining lease term	3.9 Years
Weighted average discount rate		6.1	%

As of March 31, 2019, the maturities of the Company’s operating lease liabilities are as follow (in thousands):

Fiscal Year	Amount
2019	$	1,928
2020		2,620
2021		2,648
2022		2,714
2023		2,782
2024 and thereafter		4,308
Total lease payments	$	17,000
Less imputed interest		(2,921	)
Present value of operating lease liabilities	$	14,079

In December 2015, the Company signed a sublease to lease out a portion of its office space. The term of the sublease was three years and annual gross rent was approximately $0.3 million. The sublease commenced during the second quarter of 2016 and terminated during the first quarter of 2019. The Company received $0.1 million in rent payments under the agreement for the three months ended March 31, 2019 and 2018, respectively.