Leases (Tables)

9 Months Ended

Sep. 30, 2022

Leases [Abstract]

Lease, Cost

The components of lease costs for the three and nine months ended September 30, 2022 and 2021 are as follows (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Operating lease cost	$	342	$	302	$	1,006	$	998
Variable lease cost	77		65		231		180
Total lease cost	$	419	$	367	$	1,237	$	1,178

Supplemental cash flow information and non-cash activity related to the Company’s leases are as follows (in thousands):

	Nine Months Ended September 30,
	2022		2021
Cash paid for amounts included in the measurement of lease liabilities and right of use assets:
Operating cash flow from operating leases	$	946	$	993
Right of use assets obtained in exchange for lease obligations:
Operating leases	$	18	$	288
Increases to right of use assets resulting from lease modifications:
Operating leases	$	1,050	$	—

Weighted average remaining lease terms and discount rates for the Company’s operating leases are as follows:

	As of September 30,
	2022	2021
	Years	Years
Weighted average remaining lease term:	6.9	6.3
	Rate	Rate
Weighted average discount rate:	7.1%	7.7%

Lessee, Operating Lease, Liability, Maturity

Future maturities of lease liabilities as of September 30, 2022 are as follows (in thousands):

	Operating Leases (a)
2022	$	303
2023	1,159
2024	1,064
2025	1,033
2026	998
2027 and thereafter	2,841
Total undiscounted lease payments	7,398
Less: Imputed interest	(2,451)
Total lease liabilities	$	4,947
(a) Excludes $1.8 million of legally binding minimum lease payments for an office lease signed but not yet commenced. This lease has an expected term of 7 years and is expected to commence in 2023.