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Commitments and Contingencies (Tables)
3 Months Ended
Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
Summary of Right of Use Assets and Lease Liabilities Related to Operating Leases

The right-of-use assets and lease liabilities related to operating leases were as follows (in thousands):

 

 

 

 

 

December 31,

 

 

 

March 31, 2024

 

 

2023

 

Right-of-use assets

 

$

925

 

 

$

1,045

 

 

 

 

 

 

 

 

Lease liabilities -Current

 

$

453

 

 

$

497

 

Lease liabilities - Non-Current

 

 

432

 

 

 

531

 

Total lease liabilities

 

$

885

 

 

$

1,028

 

Schedule of Lease Costs and Weighted-Average Assumptions Used in Determining its Right-of-Use Assets and Lease Liabilities

The following tables summarize the Company’s lease costs and weighted-average assumptions used in determining its right-of-use assets and lease liabilities (in thousands):

 

 

 

Three Months Ended

 

 

Three Months Ended

 

 

 

March 31, 2024

 

 

March 31, 2023

 

Operating lease cost

 

$

200

 

 

$

190

 

Cash paid for operating leases

 

$

219

 

 

$

185

 

Right-of-use assets obtained in exchange for operating lease liabilities (1)

 

$

58

 

 

$

 

Weighted average remaining term for operating leases

 

 

1.85

 

 

1.17 years

 

Weighted average discount rate for operating leases

 

 

8.1

%

 

 

5.6

%

 

(1) During the three months ended March 31, 2024, the Company extended the term of its lease in Taiwan. This lease was treated as a modification and accounted for as a non-cash change in existing lease liabilities and the right-of-use assets.
Schedule of Aggregate Future Minimum Lease Payments Under Non-cancelable Operating Leases

As of March 31, 2024, the aggregate future minimum lease payments under non-cancelable operating leases consist of the following (in thousands):

Year Ending December 31,

 

Amount

 

2024 (remaining nine months)

 

$

392

 

2025

 

 

417

 

2026

 

 

157

 

Total

 

 

966

 

Less effects of discounting

 

 

(81

)

Total lease liabilities

 

$

885