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Leases (Tables)
9 Months Ended
Sep. 30, 2023
Leases [Abstract]  
Schedule of Components of Company's Lease Expense and Other Information

The components of lease expense were as follows (in thousands):

 

Nine Months Ended
September 30,

 

2023

 

2022

 

Operating lease costs

$

278

 

$

321

 

Variable lease costs

 

109

 

 

133

 

Total lease expense

$

387

 

$

454

 

Other information related to the Company’s leases is as follows (in thousands, except term and discount rate amounts):

 

Nine Months Ended
September 30,

 

2023

 

2022

 

Weighted average remaining lease term

3.17 years

 

4.16 years

 

Weighted average discount rate

 

 

10.0

%

 

5.5

%

Cash paid for amounts included in the measurement of lease liabilities:

 

 

 

 

Operating cash flows used in operating leases

$

186

 

$

388

 

Schedule of Operating Lease Liability, Maturity

A maturity analysis of the annual undiscounted cash flows reconciled to the carrying value of the operating lease liabilities as of September 30, 2023, reflective of the Company’s election to account for lease and non-lease components together, is as follows (in thousands):

 

Year Ending December 31,

Operating Leases

 

Remaining 2023

$

86

 

2024

 

664

 

2025

 

850

 

2026

 

729

 

Total minimum lease payments

 

2,329

 

Less imputed interest

 

(369

)

Present value of lease liabilities

$

1,960