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LEASES | 6 Months Ended
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Jun. 30, 2022
LEASES |
LEASES | (12) LEASES The Company categorize leases at their inception as either operating or financing leases. Leases include various office and warehouse facilities which have been categorized as operating leases while certain equipment is leased under financing leases. During March 2022, The Company entered into a lease agreement for approximately 4,162 square feet of office space for the operations of Kestrel Labs, Inc. in Boulder, Colorado. The lease began on April 1, 2022 and will run through April 1, 2025. The rent and common area maintenance charges are equal to $17.00 per square foot with annual increases of 3%. Upon lease commencement, the Company recorded an operating lease liability and corresponding right-of-use asset for $0.2 million each. The Company’s operating leases do not provide an implicit rate, and therefore the Company uses its incremental borrowing rate as the discount rate when measuring the lease liability. The incremental borrowing rate represents an estimate of the interest rate the Company would incur at lease commencement to borrow an amount equal to the lease payments on a collateralized basis over the term of a lease. The Company’s weighted average borrowing rate was determined to be 4.06% for its operating lease liabilities. The Company’s equipment lease agreements have a weighted average rate of 9.38% which was used to measure its finance lease liability. The weighted average remaining lease term was 5.04 years and 2.91 years for operating and finance leases, respectively, as of June 30, 2022. ​ As of June 30, 2022, the maturities of the Company’s future minimum lease payments were as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Operating Lease Liability |  | Finance Lease Liability
July 1, 2022 through December 31, 2022 |  | ​ | 1,658 | ​ | ​ | 73
2023 |  | ​ | 3,055 |  | ​ | 152
2024 |  | ​ | 3,571 |  | ​ | 116
2025 |  | ​ | 3,586 |  | ​ | 76
2026 |  | ​ | 3,362 |  | ​ | 15
2027 | ​ | ​ | 3,150 | ​ | ​ | —
Thereafter | ​ | ​ | 1,064 | ​ | ​ | —
Total undiscounted future minimum lease payments |  | $ | 19,446 |  | $ | 432
Less: Difference between undiscounted lease payments and discounted lease liabilities: |  | ​ | (2,114) |  | ​ | (56)
Total lease liabilities | ​ | $ | 17,332 | ​ | $ | 376
​ The components of lease expenses were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Six Months Ended
​ | ​ | June 30, | ​ | June 30,
Operating Lease expense |  | 2022 |  | 2021 | ​ | 2022 | ​ | 2021
Costs of revenue - devices and supplies |  | $ | 100 |  | $ | 181 |  | $ | 201 |  | $ | 359
Sales and marketing expense | ​ | ​ | 126 | ​ | ​ | 76 | ​ | ​ | 257 | ​ | ​ | 133
General and administrative | ​ |  | 887 | ​ |  | 658 | ​ |  | 1,761 | ​ | ​ | 1,033
Total operating lease expense | ​ | $ | 1,113 | ​ | $ | 915 | ​ | $ | 2,219 | ​ | $ | 1,525
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Finance Lease expense | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Amortization of right-of-use asset: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Costs of revenue - devices and supplies | ​ | $ | 15 | ​ | $ | 14 | ​ | $ | 31 | ​ | $ | 26
Selling, general and administrative | ​ | ​ | 14 | ​ | ​ | 14 | ​ | ​ | 28 | ​ | ​ | 28
Total amortization of right-of-use asset | ​ | ​ | 29 | ​ | ​ | 28 | ​ | ​ | 59 | ​ | ​ | 54
Interest expense and other | ​ |  | 9 | ​ |  | 20 | ​ |  | 19 | ​ |  | 28
Total finance lease expense | ​ | $ | 38 | ​ | $ | 48 | ​ | $ | 78 | ​ | $ | 82
​

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI https://asc.fasb.org/subtopic&trid=77888251 + Details
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