Leases

6 Months Ended

Jun. 30, 2022

Leases [Abstract]

Leases

Note 7.  Leases

The Company’s operating leases consist primarily of leases for office and plant spaces. Certain of the Company’s operating leases include escalating rental payments, some of which include the option to extend the lease term for up to 5 years, and some include options to terminate the lease at certain times within the lease term. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants.

The Company’s total operating lease cost was $0.6 million and $1.2 million for the three and six months ended June 30, 2022, respectively.  Cash paid for amounts included in the measurement of lease liabilities was $1.2 million for the six months ended June 30, 2022.

The following table summarizes the future minimum undiscounted lease payments under operating leases as of June 30, 2022:

Years Ending December 31,	(in thousands)
2022 (remaining)	$	1,169
2023		2,275
2024		2,322
2025		2,380
2026		1,693
Thereafter		4,253
Total future minimum lease payments		14,092
Less: imputed interest		(2,628)
Total future minimum lease payments	$	11,464

As of June 30, 2022, the weighted average remaining lease term for operating leases was 7 years and the weighted average discount rate used to determine the operating lease liability was 5.9%.