Operating Leases (Tables)

9 Months Ended

Sep. 30, 2020

Schedule of Operating Lease Expense Recognized in Financial Statements

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


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2020		2019		2020		2019
Rent expense for long-term operating leases	$	402	$	453	$	1,266	$	1,360
Rent expense for short-term leases		122		143		511		473
Total rent expense	$	524	$	596	$	1,777	$	1,833

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 September 30, 2020 (in thousands):


Year	Amount
2020	$	396
2021		1,603
2022		1,569
2023		1,289
2024		1,060
2025 and thereafter		4,612
Total lease payments		10,529
Less: Interest		(2,871)
Net present value of lease liabilities	$	7,658

Current portion	$	967
Long-term portion		6,691
Total	$	7,658

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 September 30, 2020 were as follows:


Weighted-average lease term remaining	75 months
Weighted-average discount rate	8.92	%