Leases (Tables)

3 Months Ended

Mar. 31, 2023

Leases [Abstract]

Lease, Cost

The components of lease costs for the three months ended March 31, 2023 and 2022 are as follows (in thousands):

	Three Months Ended March 31,
	2023		2022
Operating lease cost	$	352	$	329
Variable lease cost	76		74
Total lease cost	$	428	$	403

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

	Three Months Ended March 31,
	2023		2022
Cash paid for amounts included in the measurement of lease liabilities and right of use assets:
Operating cash flow from operating leases	$	449	$	359
Right of use assets obtained in exchange for lease obligations:
Operating leases	$	381	$	—
Increases to right of use assets resulting from lease modifications:
Operating leases	$	160	$	—

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

	As of March 31,
	2023	2022
	Years	Years
Weighted average remaining lease term:	6.2	6.2
	Rate	Rate
Weighted average discount rate:	7.0%	7.6%

Lessee, Operating Lease, Liability, Maturity

Future maturities of lease liabilities as of March 31, 2023 are as follows (in thousands):

	Operating Leases (a)
2023	$	969
2024	1,235
2025	1,172
2026	998
2027	826
2028 and thereafter	2,016
Total undiscounted lease payments	7,216
Less: Imputed interest	(2,383)
Total lease liabilities	$	4,833
(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 the fourth quarter of 2023.