Leases

6 Months Ended

Jun. 30, 2022

Leases [Abstract]

Leases

10. Leases

The Company leases its corporate headquarters of 21,020 rentable square feet in accordance with a non-cancelable 89-month operating lease agreement as amended and effective in January 2017, with an option to extend for an additional 60 months. The Company also leases an additional office space of 6,003 rentable square feet in accordance with a non-cancellable 90-month operating lease agreement entered into in April 2017, with an option to extend for an additional 60 months. The extension option is not included in the determination of the lease term as it is not reasonably certain to be exercised.

For the three and six months ended June 30, 2022 and 2021, a summary of the Company’s lease information is shown below:

	Three Months Ended June 30,				Six Months Ended June 30,
(In thousands)	2022		2021		2022		2021
Lease cost:
Operating lease costs	$	168	$	168	$	336	$	336
Other information:
Cash paid for operating leases	$	185	$	180	$	369	$	359

As of June 30, 2022, the weighted average remaining operating lease term was 2.3 years.

As of June 30, 2022, scheduled future maturities and present value of the operating lease liabilities are as follows:

(In thousands)
Year	June 30, 2022
Remainder of 2022	$	374
2023		765
2024		542
2025		77
Total maturities	$	1,758
Present value included in consolidated balance sheet:
Current portion of operating lease liabilities	$	655
Noncurrent operating lease liabilities		953
Total operating lease liabilities	$	1,608
Difference between the maturities and the present value of operating lease liabilities	$	150