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Lease Commitments (Tables)
3 Months Ended
Mar. 31, 2022
Leases [Abstract]  
Summary of Supplemental Balance Sheet Information Related to the Operating Leases

The following table summarizes supplemental balance sheet information related to the operating leases (in thousands):

 

 

 

March 31,

 

 

December 31,

 

 

 

2022

 

 

2021

 

Assets:

 

 

 

 

 

 

Operating lease right-of-use assets

 

 

1,795

 

 

 

1,914

 

Total right-of-use assets

 

$

1,795

 

 

$

1,914

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

Operating lease liabilities, current

 

 

490

 

 

 

487

 

Operating lease liabilities, non-current

 

 

1,083

 

 

 

1,183

 

Total operating lease liabilities

 

$

1,573

 

 

$

1,670

 

Summary of Future Minimum Lease Payments Under Operating Leases

As of March 31, 2022, the future minimum annual lease payments under the operating leases were as follows (in thousands):

 

2022

 

$

378

 

2023

 

 

516

 

2024

 

 

529

 

Thereafter

 

 

342

 

Total minimum lease payments

 

$

1,765

 

 

 

 

 

Less: amount representing interest

 

 

(192

)

Present value of operating lease liabilities

 

 

1,573

 

Less: operating lease liabilities, current

 

 

(490

)

Operating lease liabilities

 

$

1,083

 

 

 

 

 

Weighted-average remaining lease term (in years)

 

 

3.31

 

Weighted-average incremental borrowing rate

 

 

7.25

%