Leases

6 Months Ended

Jun. 30, 2020

Leases

Leases

8. Leases

We adopted ASU 2016-02—Leases (Topic 842) as of January 1, 2019, using the new transition method issued under ASU 2018-11, which allows an entity to initially apply the new leases standard at the adoption date and recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption and also allows an entity to elect not to recast its comparative periods in transition. In addition, we elected to use the package of practical expedients permitted under the transition guidance within the new standard, which among other things, allowed us to carry forward the historical lease classification. We also elected to use the practical expedient related to short-term leases, allowing us to not recognize right-of-use assets and lease liabilities for leases with a lease term of 12 months or less. As of June 30, 2020, short-term leases were not material. As of June 30, 2020, finance leases were not material and are therefore not included in the following disclosures.

Operating lease expense for the three months ended June 30, 2020 and 2019 was $1.0 million and $0.7 million, respectively. Operating lease expense for the six months ended June 30, 2020 and 2019 was $1.9 million and $1.3 million, respectively.

Supplemental cash flow information related to leases was as follows (in thousands):

	Three months ended June 30,				Six months ended June 30,
	2020		2019		2020		2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	991	$	701	$	1,995	$	1,438

Supplemental balance sheet information related to leases was as follows (in thousands):

	June 30,			December 31,
	2020			2019
Operating leases:
Operating lease right-of-use assets	$	11,416	$	12,645
Accrued expenses and other current liabilities		3,021		2,772
Operating lease liabilities		9,345		10,863
Total operating lease liabilities	$	12,366	$	13,635
Weighted average remaining lease term:
Operating leases		4 years		4 years
Weighted average discount rate:
Operating leases		9%		9%

Maturities of operating lease liabilities as of June 30, 2020 were as follows (in thousands):

	Operating
	Leases
2020	$	2,009
2021		3,949
2022		3,829
2023		3,495
2024		1,336
Thereafter		—
Total lease payments	$	14,618
Less imputed interest		2,252
Total operating lease liabilities	$	12,366