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Commitments and Contingencies (Tables)
12 Months Ended
Dec. 31, 2021
Commitments And Contingencies Disclosure [Abstract]  
Summary of Components of Lease Cost

The components of lease cost are presented in the following table:

 

 

Year Ended

December 31, 2021

 

Year Ended

December 31, 2020

Components of total lease costs:

 

 

 

 

Operating lease cost

 

$2,370,643

 

$1,745,575

Short-term lease cost

 

100,607

 

48,150

Variable lease cost

 

 

Total lease cost

 

$2,471,250

 

$1,793,725

Schedule of Operating Lease and Supplemental Information

Amounts reported in the Consolidated Balance Sheets were as follows:

 

 

 

December 31, 2021

 

December 31, 2020

Operating Leases:

 

 

 

 

Right-of-use assets

 

$10,499,751

 

$10,074,506

Lease liability, current

 

1,990,416

 

1,527,224

Lease liability, long-term

 

9,090,867

 

8,836,655

Total lease liabilities

 

$11,081,283

 

$10,363,879

 

 

 

 

 

Weighted-average remaining lease term (in years)

 

5.2

 

6.2

Weighted-average discount rate (annualized)

 

4.3%

 

4.6%

Summary of Other Information Related to Lease

Other information related to leases are as follows:

 

 

 

Year Ended

December 31, 2021

 

Year Ended

December 31, 2020

Cash paid for amounts included in the measurement of lease liabilities:

 

 

 

 

Operating cash flows from operating leases

 

$2,168,767

 

$1,504,352

Right-of-use assets obtained in exchange for lease liabilities:

 

 

 

 

Operating leases

 

2,438,075

 

11,430,120

Schedule of Maturity Analysis of the Company's Operating Leases Liabilities

The following table presents a maturity analysis of the Company’s operating leases liabilities as of December 31, 2021:

 

2022

 

$2,423,447

2023

 

2,481,751

2024

 

2,303,054

2025

 

2,124,094

2026

 

1,835,155

Thereafter

 

1,260,395

Total undiscounted lease payments

 

12,427,896

Less: Imputed interest

 

1,346,613

Total lease liabilities

 

$11,081,283