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Leases (Tables)
 3 Months Ended
Mar. 31, 2022
Leases [Abstract]  
Schedule of Lease Cost Recognized in Consolidated Statement of Operations and Other Information

Lease cost recognized in the Company’s Condensed Consolidated Statements of Operations and other information is summarized as follows (in thousands):

 

 

 

Three Months Ended March 31,

 

 

 

2021

 

 

2022

 

Operating lease cost

 

$

471

 

 

$

443

 

Short-term operating lease cost

 

 

-

 

 

 

40

 

Total operating lease cost

 

$

471

 

 

$

483

 

Other information:

 

 

 

 

 

 

 

 

Weighted-average remaining lease term - operating leases

 

2.6 years

 

 

1.7 years

 

Weighted-average discount rate - operating leases (1)

 

 

4.8

%

 

 

4.8

%

   

 

(1)

The discount rate used to compute the present value of total lease liabilities as of March 31, 2022 was based on the Company's estimated incremental borrowing rate of similar secured borrowings available to the Company as of the commencement date of lease.

Schedule of Operating Lease Liabilites

As of March 31, 2022, the Company’s operating lease liabilities were as follows (in thousands):

 

 

Total

 

Gross future operating lease payments

 

$

2,953

 

Less: imputed interest

 

 

(116

)

Present value of total operating lease liabilities

 

 

2,837

 

Less: current portion of operating lease liabilities

 

 

(2,311

)

Total long-term operating lease liabilities

 

$

526