Leases

3 Months Ended

Mar. 31, 2023

12. Leases

The Company has entered into operating leases for its office facilities (including its corporate headquarters) and equipment. The Company has no finance leases.

The following table provides additional information regarding the Company’s leases:


	Three Months Ended March 31,
	2023		2022
Lease cost:
Operating lease cost	$	319	$	89
Short-term lease cost		56		276

Total lease cost	$	375	$	365

Other information:
Cash paid for amounts included in the measurement of operating liabilities (operating leases)	$	326	$	97

Right-of-use assets obtained in exchange for new operating lease liabilities		n/a		n/a

Weighted-average remaining lease term (in years)—operating leases		1.0		1.3

Weighted-average discount rate—operating leases		6.5%		4.4%

None of the Company’s leases include variable payments, residual value guarantees or any restrictions or covenants relating to the Company’s ability to pay dividends or incur additional financing obligations.

The following table discloses future minimum lease payments at March 31, 2023 with respect to the Company’s operating lease liabilities:



Remainder of 2023	$	803
2024		397
2025		—
2026		—
2027		—
2028 and thereafter		—

Total future minimum lease payments (undiscounted)	$	1,200

The following table reconciles the future minimum lease payments (disclosed above) at March 31, 2023 to the operating lease liabilities recognized in the Company’s Consolidated Balance Sheets:



Amounts recognized in the Company’s Consolidated Balance Sheets
Lease liability—short term	$	1,041
Lease liability—long term		120

Subtotal		1,161
Difference between undiscounted and discounted cash flows		39

Total future minimum lease payments (undiscounted)	$	1,200