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Leases (Tables)
12 Months Ended
Dec. 31, 2021
Leases [Abstract]  
Summary of Maturities of Lease Liabilities

Maturities of lease liabilities as of December 31, 2021, were as follows:

 

(in thousands)

 

Operating
Lease

 

 

Finance
Lease

 

Year ending December 31:

 

 

 

 

 

 

2022

 

$

3,116

 

 

$

144

 

2023

 

 

3,361

 

 

 

109

 

2024

 

 

3,305

 

 

 

70

 

2025

 

 

3,418

 

 

 

68

 

2026

 

 

3,534

 

 

 

51

 

Thereafter

 

 

1,113

 

 

 

 

 

 

 

17,847

 

 

 

442

 

Less: imputed interest

 

 

(3,791

)

 

 

(43

)

Present value of lease liabilities

 

 

14,056

 

 

 

399

 

Less: current portion

 

 

(2,769

)

 

 

(138

)

Lease liabilities net of current portion

 

$

11,287

 

 

$

261

 

Summary of Components of lease Expense

The components of lease expense were as follows for the years ended December 31, 2021 and 2020:

 

(in thousands)

2021

 

 

2020

 

Operating lease cost

$

1,990

 

 

$

1,847

 

Finance lease cost:

 

 

 

 

 

Amortization of right-of-use assets

 

107

 

 

 

60

 

Interest on lease liabilities

 

15

 

 

 

9

 

Total finance lease cost

$

122

 

 

$

69

 

Short-term lease cost

$

89

 

 

$

15

 

Summary of Additional Information Related to the Leases

Additional information related to the Company’s leases was as follows as of December 31:

 

 

 

2021

 

 

2020

 

Operating Lease:

 

 

 

 

 

 

Weighted-average remaining lease term (years)

 

 

5.18

 

 

 

5.97

 

Weighted-average discount rate

 

 

9.08

%

 

 

9.35

%

Finance Lease:

 

 

 

 

 

 

Weighted-average remaining lease term (years)

 

 

3.83

 

 

 

2.68

 

Weighted-average discount rate

 

 

4.86

%

 

 

3.15

%