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Commitments and Contingencies (Tables)
3 Months Ended
Mar. 31, 2022
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):

 

 

 

March 31,

 

 

December 31,

 

 

 

2022

 

 

2021

 

Right-of-use assets

 

$

965

 

 

$

1,009

 

 

 

 

 

 

 

 

 

 

Lease liabilities - Current

 

$

537

 

 

$

525

 

Lease liabilities - Non-Current

 

 

445

 

 

 

468

 

Total lease liabilities

 

$

982

 

 

$

993

 

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 March 31,

 

 

 

2022

 

 

2021

 

Operating lease cost

 

$

200

 

 

$

189

 

Cash paid for operating leases

 

$

160

 

 

$

184

 

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

 

$

146

 

 

$

41

 

Weighted average remaining term for operating leases

 

1.79 years

 

 

1.16 years

 

Weighted average discount rate for operating leases

 

 

3.2

%

 

 

5.8

%

 

 

(1)

The Company entered into a new lease in Taiwan when its existing facility lease terminated, and there were no lease modifications in the three months ended March 31, 2022. During the three months ended March 31, 2021, the Company modified one existing operating lease. The lease modification was not treated as a separate contract as no additional right-of-use was granted and was accounted for as 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, 2022, the aggregate future minimum lease payments under non-cancelable operating leases consist of the following (in thousands):

 

Year Ending December 31,

 

Amount

 

2022 (remaining nine months)

 

$

459

 

2023

 

 

459

 

2024

 

 

110

 

Total

 

 

1,028

 

Less effects of discounting

 

 

(46

)

Lease liabilities recognized

 

$

982