XML 34 R22.htm IDEA: XBRL DOCUMENT v3.22.4
Leases
12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
Leases Leases
The Company has operating leases primarily related to the Company's principal executive office, automobile leases and other IT related equipment. The lease for the principal executive office was renewed in December 2022 and has a lease term of 5 years from November 1, 2023, and the automobile leases and IT equipment leases primarily have a term of 3 years. During the years ended December 31, 2022 and December 31, 2021, the Company recognized $1.3 million and $2.4 million, respectively, of operating lease costs, recognized on the statements of operations and comprehensive loss, and paid cash for the amounts included in the measurement of lease liabilities of $1.2 million and $2.4 million, respectively, which were included in operating cash flows on the statements of cash flows. At December 31, 2022 and December 31, 2021, the weighted-average remaining lease term of operating leases was 4.7 years and 1.4 years, respectively, and the weighted average discount rate was 7.7% and 4.7%, respectively. There was $0.6 million and $0.1 million in right-of-use assets obtained in exchange for lease obligations for the twelve months ended December 31, 2022 and December 31, 2021, respectively. The Company had no additional operating and finance leases that have not yet commenced as of December 31, 2022.
The following table summarizes the Company's future maturities of operating lease liabilities as of December 31, 2022:
(in thousands)
2023$461 
2024175 
2025159 
2026164 
2027169 
2028 and beyond144 
Total lease payments1,272 
Less imputed interest(223)
Total$1,049 
The following table summarizes supplemental balance sheet information related to leases as of December 31, 2022:
Operating Leases(in thousands)
Total right of use operating lease assets$1,036 
Operating lease liabilities (short-term)$(384)
Operating lease liabilities (long-term)(665)
Total lease obligations under operating leases$(1,049)