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LEASES (Tables)
3 Months Ended
Mar. 31, 2022
Leases [Abstract]  
Summary of Lease Costs

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 months ended March 31, 2022 and 2021:

 

 

 

Three Months Ended March 31,

 

 

 

2022

 

 

2021

 

Operating leases

 

 

 

 

 

 

 

 

Lease cost

 

 

 

 

 

 

 

 

Operating lease cost

 

$

378

 

 

$

378

 

Variable lease cost

 

 

223

 

 

 

215

 

Total lease cost

 

$

601

 

 

$

593

 

Other year-to-date lease information

 

 

 

 

 

 

 

 

Operating cash flows used

   for operating leases

 

$

385

 

 

$

373

 

Operating lease liabilities

   arising from obtaining

   right-of-use assets

 

$

 

 

$

 

 

The following table contains a summary of the lease liabilities recognized on the Company’s unaudited condensed consolidated balance sheet as of March 31, 2022 and on the Company’s audited consolidated balance sheet as of December 31, 2021:

 

 

 

As of March 31, 2022

 

 

As of December 31, 2021

 

Other operating lease information

 

 

 

 

 

 

 

 

Operating lease liabilities — short-term

 

$

1,262

 

 

$

1,227

 

Operating lease liabilities — long-term

 

$

3,397

 

 

$

3,725

 

Weighted-average remaining lease term

 

3.3 years

 

 

3.5 years

 

Weighted-average discount rate

 

 

7.60

%

 

 

7.60

%

Schedule of Future Minimum Rental Payments for Operating Leases

Future minimum lease payments under the Company’s operating lease as of March 31, 2022 and December 31, 2021, were as follows:

 

 

 

As of

March 31, 2022

 

 

As of December 31, 2021

 

Maturity of lease liabilities

 

 

 

 

 

 

 

 

2022

 

$

1,177

 

 

$

1,562

 

2023

 

 

1,609

 

 

 

1,609

 

2024

 

 

1,656

 

 

 

1,656

 

2025

 

 

841

 

 

 

841

 

Thereafter

 

 

 

 

 

 

Total lease payments

 

 

5,283

 

 

 

5,668

 

Less: imputed interest

 

 

(624

)

 

 

(716

)

Total operating lease liabilities

 

$

4,659

 

 

$

4,952