Leases (Tables)

9 Months Ended

Sep. 30, 2022

Table Text Blocks

Schedule of components of lease cost and supplemental cash flow information

Lease cost is recognized on a straight-line basis over the lease term. The components of lease cost for the three and nine months ended September 30, 2022 and 2021 are as follows (in thousands):

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2022		2021		2022		2021
Operating lease cost	$	627	$	630	$	1,883	$	1,891
Short-term lease cost		274		278		798		706
Total lease cost	$	901	$	908	$	2,681	$	2,597

Supplemental information related to leases for the periods reported is as follows:

	Nine Months Ended
	September 30,
	2022			2021
Cash paid for amounts included in the measurement of lease liabilities (in thousands)		2,356			2,339
Weighted-average remaining lease term of operating leases (in years)		7.6			8.5
Weighted-average discount rate of operating leases		5.8	%		5.8	%

Schedule of future minimum lease payments under non-cancelable operating leases

Future minimum lease payments under non-cancelable operating leases as of September 30, 2022 are as follows (in thousands):

2022(1)	$	758
2023		3,065
2024		3,126
2025		3,189
2026		3,252
2027 and thereafter		11,603
Total future minimum lease payments		24,993
Less: present value adjustment		(4,856)
Operating lease liabilities		20,137
Less: current portion of operating lease liabilities		(3,050)
Operating lease liabilities, net of current portion	$	17,087

(1) For the three months ending December 31, 2022.