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Leases (Tables)
6 Months Ended
Jun. 30, 2022
Leases [Abstract]  
Summary of Lease Costs and Company's Operating Leases

The following table contains a summary of the lease costs recognized under ASC 842 and other information pertaining to the Company’s operating leases for the three and six months ended June 30, 2022 and 2021:

 

 

 

Three Months Ended
June 30,

 

 

Six Months Ended
June 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

 

 

(in thousands)

 

 

 

 

Lease cost

 

 

 

 

 

 

 

 

 

 

 

 

Operating lease cost

 

$

1,689

 

 

$

1,515

 

 

$

3,378

 

 

$

3,031

 

Variable lease cost

 

 

491

 

 

 

566

 

 

 

933

 

 

 

1,046

 

Total lease cost

 

$

2,180

 

 

$

2,081

 

 

$

4,311

 

 

$

4,077

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other information

 

 

 

 

 

 

 

 

 

 

 

 

Operating cash flows used for operating leases

 

$

1,589

 

 

$

1,621

 

 

$

3,216

 

 

$

3,225

 

Weighted average remaining lease term

 

3.7 years

 

 

4.6 years

 

 

3.7 years

 

 

4.6 years

 

Weighted average discount rate

 

 

9.75

%

 

 

9.86

%

 

 

9.75

%

 

 

9.86

%

Schedule of Future Minimum Lease Payments Under Non-Cancelable Operating Leases

Future minimum lease payments under the Company’s non-cancelable operating leases as of June 30, 2022, are as follows:

 

 

 

 

 

 

 

(In thousands)

 

2022

 

$

3,361

 

2023

 

 

7,517

 

2024

 

 

7,322

 

2025

 

 

3,057

 

Thereafter

 

 

3,909

 

Total lease payments

 

$

25,166

 

Less: imputed interest

 

 

(4,338

)

Total operating lease liabilities at June 30, 2022

 

$

20,828