Leases

3 Months Ended

Mar. 31, 2023

Leases [Abstract]

Leases

Note 7. Leases

The Company leases office space, warehouse and manufacturing space, and equipment. The Company’s lease agreements have remaining lease terms of one year to 15 years, and some of these leases have renewal and termination options exercisable at the Company’s election. Terms and conditions to extend or terminate such leases are recognized as part of the right-of-use assets and lease liabilities where reasonably certain to be exercised. All of the Company’s leases are operating leases.

Operating lease expense was $0.8 million for each of the three months ended March 31, 2023 and 2022. Cash paid for amounts included in the measurement of the lease liabilities was $0.8 million and $0.7 for the three months ended March 31, 2023 and 2022, respectively. The weighted-average discount rate is 4.9% and the weighted-average remaining lease term is 9.3 years as of March 31, 2023.

Maturities of operating lease liabilities at March 31, 2023 were as follows (in thousands):

	Amount
Remainder of 2023	$	2,167
2024		2,776
2025		2,342
2026		2,413
2027		2,416
Thereafter		11,917
Total lease payments		24,031
Less: imputed interest		(5,149	)
Present value of lease liabilities	$	18,882