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Leases (Tables)
12 Months Ended
Dec. 31, 2021
Leases [Abstract]  
Summary of Lease Related Assets and Liabilities

The table below presents the lease-related assets and liabilities recorded on the consolidated balance sheet as of December 31, 2021 and 2020:

 

 

 

As of

 

 

 

December 31, 2021

 

 

December 31, 2020

 

 

 

(in thousands)

 

Right-of-use assets

 

$

8,194

 

 

$

8,892

 

Lease liabilities included in accrued expenses
   and other current liabilities

 

 

1,336

 

 

 

1,264

 

Lease liabilities - non-current

 

 

6,398

 

 

 

6,986

 

Total operating lease liabilities

 

$

7,734

 

 

$

8,250

 

Weighted-average remaining lease term (years)

 

 

5.0

 

 

 

5.9

 

Weighted-average discount rate

 

 

4.5

%

 

 

4.2

%

Summary of Lease Costs

The table below presents certain information related to the lease costs for operating leases for the years ended December 31, 2021, 2020, and 2019:

 

 

 

Year Ended December 31

 

 

 

2021

 

 

2020

 

 

2019

 

 

 

(in thousands)

 

Operating lease cost

 

$

1,761

 

 

$

1,696

 

 

$

1,419

 

Short-term lease cost

 

 

579

 

 

 

356

 

 

 

313

 

Variable lease cost

 

 

599

 

 

 

332

 

 

 

494

 

Total lease cost

 

$

2,939

 

 

$

2,384

 

 

$

2,226

 

Summary of Undiscounted Cash Flows

The table below reconciles the undiscounted cash flows for each of the first five years and total of the remaining years to the operating lease liabilities recorded on the consolidated balance sheet as of December 31, 2021:

 

 

 

(in thousands)

 

2022

 

$

1,633

 

2023

 

 

1,737

 

2024

 

 

1,698

 

2025

 

 

1,580

 

2026

 

 

1,622

 

2027 and beyond

 

 

416

 

Total minimum lease payments

 

 

8,686

 

Less: amount of lease payments representing
   interest

 

 

(952

)

Present value of future minimum lease payments

 

 

7,734

 

Less: current obligations under leases

 

 

(1,336

 )

Long-term lease liabilities

 

$

6,398