Leases

3 Months Ended

Mar. 31, 2022

Leases

Leases

Note 12. Leases

The Company is a lessee under leases for office space, land and equipment with third parties, all of which are accounted for as operating leases. These leases generally have an initial term of one to seven years and provide for fixed monthly payments. Some of these leases provide for future rent escalations and renewal options and certain leases also obligate us to pay the cost of maintenance, insurance and property taxes. Total lease cost was $0.2 million for each of the three months ended March 31, 2022 and 2021. Leases with a term of one year or less are classified as short-term and are not recognized in the Condensed Consolidated Balance Sheets.

A summary of the classification of operating leases on our Condensed Consolidated Balance Sheets as of March 31, 2022 and December 31, 2021 (amounts in thousands):

		March 31,		December 31,
		2022		2021
Operating lease right-of-use assets		$	1,973	$	1,281
Operating lease liability, current	(Other accrued expenses)		747		538
Operating lease liability, non-current	(Other long-term liabilities)	$	1,374	$	890

Components of lease cost reflected in our Condensed Consolidated Statement of Operations for the three months ended March 31, 2022 and 2021 (amounts in thousands):

	Three Months Ended March 31,
	2022		2021
Operating lease cost	$	193	$	168
Short-term lease cost		44		43
Total lease cost	$	237	$	211

A summary of weighted-average remaining lease term and weighted-average discount rate as of March 31, 2022:

Weighted-average remaining lease term	2.9	years
Weighted average discount rate	5.6	%

Supplemental cash flow and other non-cash information for the three months ended March 31, 2022 and 2021 (amounts in thousands):

	Three Months Ended March 31,
	2022		2021
Operating cash flows from operating leases	$	193	$	160
Operating lease right-of-use assets obtained in exchange for new operating lease liabilities		864		—

Future annual minimum lease commitments as of March 31, 2022 were as follows (amounts in thousands):

	March 31, 2022
Remainder of 2022	$	643
2023		825
2024		549
2025		228
2026		58
Total minimum payments	$	2,303
Less: amount representing interest		(182)
Lease liability	$	2,121