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Lease Commitments (Tables)
6 Months Ended
Jun. 30, 2023
Leases [Abstract]  
Summary of Supplemental Balance Sheet Information Related to the Operating Leases

The following table summarizes supplemental balance sheet information related to the operating leases (in thousands):

 

 

June 30,

 

 

December 31,

 

 

 

2023

 

 

2022

 

Assets:

 

 

 

 

 

 

Operating lease right-of-use assets

 

$

1,886

 

 

$

2,287

 

Total right-of-use assets

 

 

1,886

 

 

 

2,287

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

Operating lease liabilities, current

 

 

717

 

 

 

708

 

Operating lease liabilities, non-current

 

 

789

 

 

 

1,098

 

Total operating lease liabilities

 

$

1,506

 

 

$

1,806

 

Summary of Future Minimum Lease Payments Under Operating Leases

As of June 30, 2023, the future minimum annual lease payments under the operating leases were as follows (in thousands):

2023

 

 

369

 

2024

 

 

753

 

2025

 

 

513

 

Total minimum lease payments

 

 

1,635

 

Less: amount representing interest

 

 

(129

)

Present value of operating lease liabilities

 

 

1,506

 

Less: operating lease liabilities, current

 

 

(717

)

Operating lease liabilities

 

$

789

 

 

 

 

 

Weighted-average remaining lease term (in years)

 

 

2.1

 

Weighted-average incremental borrowing rate

 

 

8.21

%