Operating Leases (Tables)

6 Months Ended

Jun. 30, 2020

Schedule of Operating Lease Expense Recognized in Financial Statements

The table below summarizes the amounts recognized in the financial statements related to operating leases for the periods presented (in thousands):


	For the three months ended June 30,					For the six months ended June 30,
	2020		2019		2020		2019
Rent expense for long-term operating leases	$	421	$	453	$	864	$	907
Rent expense for short-term leases		57		85		118		172
Total rent expense	$	478	$	538	$	982	$	1,079

Schedule of Net Present Value of Operating Lease Liability

The following table presents the maturity profile of the Company’s operating lease liabilities based on the contractual undiscounted payments with a reconciliation of these amounts to the remaining net present value of the operating lease liability reported in the condensed consolidated balance sheets as of June 30, 2020 (in thousands):


Year	Amount
2020	$	774
2021		1,244
2022		1,192
2023		1,039
2024		1,055
2025 and thereafter		4,603
Total lease payments		9,907
Less: Interest		(2,874)
Net present value of lease liabilities	$	7,033

Current portion	$	834
Long-term portion		6,199
Total	$	7,033

Schedule of Weighted Average Remaining Lease Terms and Discount Rates

The weighted-average remaining lease terms and discount rates for all of our operating leases as of June 30, 2020 were as follows:


Weighted-average lease term remaining	66 months
Weighted-average discount rate	8.92	%