The Company has operating leases for its corporate headquarters and office equipment, including copiers. The Company leases approximately 42,000 square foot facility in Malvern, Pennsylvania for its corporate headquarters, which includes office and warehouse space. The Company does not currently have any finance leases or executed leases that have not yet commenced.

Operating lease rent expense was $0.2 million and $0.3 million for the three and six months ended June 30, 2020 and 2019, respectively. As of June 30, 2020 the weighted-average remaining lease term of operating leases was 7.6 years and the weighted-average discount rate was 6.5%.

In the first quarter of 2020, the Company received a reimbursement of $0.8 million for leasehold expenses previously incurred in connection with the lease agreement for its Malvern facility. The reimbursement was recorded as an offset to the non-current lease liability that was established when the lease agreement was executed.

The following table presents the supplemental cash flow information as a lessee related to leases (in thousands):

	Six Months Ended
	June 30, 2020		June 30, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	394	$	175
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	-	$	4,164

The following table sets forth by year the required future payments of operating lease liabilities (in thousands):

	June 30, 2020
Remainder of 2020	$	297
2021		616
2022		641
2023		637
2024		646
Thereafter		2,147
Total lease payments		4,984
Less imputed interest		(1,136	)
Present value of operating lease liabilities	$	3,848

Certain customers have purchased NeuroStar Advanced Therapy Systems on a rent-to-own basis. The lease term is three years with a customer option to purchase the NeuroStar Advanced Therapy System at the end of the lease or automatic transfer of ownership of the NeuroStar Advanced Therapy System at the end of the lease.

The following table sets forth the profit recognized on sales-type leases (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
Profit recognized at commencement, net	$	474	$	118	$	726	$	262
Interest income		-		-		-		-
Total sales-type lease income	$	474	$	118	$	726	$	262

The following table sets forth a maturity analysis of the undiscounted lease receivables related to sales-type leases (in thousands):

	June 30, 2020
Remainder of 2020	$	653
2021		1,347
2022		1,143
2023		244
Total sales-type lease receivables	$	3,387

As of June 30, 2020, the carrying amount of the lease receivables is $3.4 million. The Company does not have any unguaranteed residual assets.

NeuroStar Advanced Therapy Systems sold on a rent-to-own basis prior to January 1, 2019 are accounted for as operating leases. For the three months ended June 30, 2020 and 2019, the Company recognized operating lease income of $0.1 million in each period. For the six months ended June 30, 2020 and June 30, 2019, the Company recognized operating lease income of $0.2 million and $0.3 million, respectively.

The following table sets forth a maturity analysis of its undiscounted lease receivables related to operating leases:

	June 30, 2020
Remainder of 2020	$	280
2021		150
Total lease receivables	$	430

The Company maintained Rental Equipment, net of $0.3 million and $0.5 million, as of June 30, 2020 and December 31, 2019, respectively, which are included in “Property and equipment, net” on the balance sheet. Rental equipment depreciation expense was $0.02 million and $0.05 million for the three months ended June 30, 2020 and 2019, respectively and $0.05 million and $0.1 million for the six months ended June 30, 2020 and 2019 .