v3.23.1
Operating Lease (Tables)
 3 Months Ended
Mar. 31, 2023
Leases [Abstract]  
Summary of Information Related to Lease
The following table summarizes information related to the Company’s lease (in thousands):
March 31, 2023December 31, 2022
Assets:
Operating lease right-of-use assets$1,437 $1,522 
Liabilities:
Operating lease liabilities, current$404 $394 
Operating lease liabilities, non-current1,164 1,267 
Total operating lease liabilities$1,568 $1,661 
Summary of Rent Expense Related to Lease
Rent expense for the three months ended March 31, 2023 and 2022 is presented on the following table (in thousands):
Three Months Ended March 31,
20232022
Operating leases rent expense$116 $50 
Cash paid for leases and included in operating cash flows for the three months ended March 31, 2023 and 2022 is presented on the following table (in thousands):
Three Months Ended March 31,
20232022
Cash paid included in operating cash flows$124 $28 
Summary of Future Minimum Lease Payments Required under Operating Lease
The future minimum lease payments required under the operating lease as of March 31, 2023, are summarized below (in thousands):
Future Minimum Lease Payments:
2023$377 
2024512 
2025320 
2026231 
2027280 
   Thereafter110 
Total minimum lease payments$1,830 
Less: amount representing interest(262)
Present value of operating lease liabilities$1,568 
Less: operating lease liabilities, current(404)
Operating lease liabilities, non-current$1,164 
Remaining lease term (in years)4.33
Incremental borrowing rate7.48 %