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

The components of the lease costs for the three months ended March 31, 2022 and 2021, were as follows (in thousands):

 

 

 

Three Months Ended
March 31,

 

 

 

2022

 

 

2021

 

Operating lease costs

 

$

524

 

 

$

524

 

Finance lease costs:

 

 

 

 

 

 

Amortization of right-to-use assets, finance leases

 

 

279

 

 

 

178

 

Interest expense for finance lease liabilities

 

 

46

 

 

 

24

 

Variable lease costs

 

 

329

 

 

 

232

 

Total lease costs

 

$

1,178

 

 

$

958

 

Supplemental Cash Flow Information Relating to Leases

Supplemental cash flow information relating to the Company’s leases for the three months ended March 31, 2022 and 2021, were as follows (in thousands):

 

 

 

Three Months Ended
March 31,

 

 

 

2022

 

 

2021

 

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

 

 

 

 

 

 

Operating cash flows used in operating leases

 

$

631

 

 

$

797

 

Operating cash flows used in finance leases

 

$

264

 

 

$

155

 

Financing cash flows used in finance leases

 

$

46

 

 

$

24

 

Summary of Weighted Average Remaining Lease Terms and Discount Rates

Weighted average remaining lease terms and discount rates as of March 31, 2022 and 2021 were as follows:

 

 

 

Three Months Ended
March 31,

 

 

 

2022

 

 

2021

 

Remaining lease term:

 

 

 

 

 

 

Operating lease

 

8.09 years

 

 

9.09 years

 

Finance lease

 

2.10 years

 

 

2.60 years

 

Discount Rate:

 

 

 

 

 

 

Operating lease

 

 

10.50

%

 

 

10.50

%

Finance lease

 

 

8.75

%

 

 

8.12

%

Summary of Undiscounted Future Lease Payments for Operating and Finance Leases

The undiscounted future lease payments for operating and finance leases as of March 31, 2022, were as follows (in thousands):

 

Fiscal Year

 

Operating
Leases

 

 

Finance
Leases

 

2022 (excluding the first quarter)

 

$

1,950

 

 

$

874

 

2023

 

 

2,659

 

 

 

969

 

2024

 

 

2,732

 

 

 

343

 

2025

 

 

2,814

 

 

 

 

2026

 

 

2,898

 

 

 

 

Thereafter

 

 

10,027

 

 

 

 

Total minimum lease payments

 

 

23,080

 

 

 

2,186

 

Less amounts representing interest or imputed interest

 

 

(7,622

)

 

 

(172

)

Present value of lease liabilities

 

$

15,458

 

 

$

2,014

 

 

Excluded from the table above are all future payments related to the 2021 lease.