Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies (Tables)

v3.23.1
Commitments and Contingencies (Tables)
3 Months Ended
Mar. 31, 2023
Commitments And Contingencies Disclosure [Abstract]  
Schedule of Reconciliation of Maturity Analysis of Annual Undiscounted Cash Flows

The following is a maturity analysis of the annual undiscounted cash flows reconciled to the carrying value of the operating and financing lease liabilities as of March 31, 2023 (in thousands):

 

 

Operating

 

 

Financing

 

Nine Months ending December 31, 2023

 

$

3,041

 

 

$

13

 

Year ending December 31, 2024

 

 

4,166

 

 

 

 

Year ending December 31, 2025

 

 

4,287

 

 

 

 

Year ending December 31, 2026

 

 

4,412

 

 

 

 

Year ending December 31, 2027 and beyond

 

 

14,844

 

 

 

 

Total minimum lease payments

 

 

30,750

 

 

 

13

 

Less imputed interest

 

 

(8,372

)

 

 

(1

)

Total lease liability

 

$

22,378

 

 

$

12

 

Schedule of Total Lease Cost for Operating and Financing Leases as well as Weighted Average Information for Leases

The following table outlines the total lease cost for the Company’s operating and financing leases as well as weighted average information for these leases as of March 31, 2023 (in thousands):

 

 

Three Months Ended March 31, 2023

 

Lease cost:

 

 

 

Operating lease cost

 

$

772

 

Financing lease cost:

 

 

 

Amortization of right-of-use asset

 

$

65

 

Interest on lease liabilities

 

 

1

 

Total financing lease cost

 

$

66

 

Cash paid for amounts included in the measurement of liabilities:

 

 

 

Operating cash flows from operating lease

 

$

1,007

 

Operating cash flows from financing lease

 

$

54

 

 

 

 

Other information:

 

Three Months Ended March 31, 2023

 

Weighted-average remaining lease term (in years) - operating lease

 

 

6.92

 

Weighted-average discount rate - operating lease

 

 

9.30

 

Weighted-average remaining lease term (in years) - financing lease

 

 

0.70

 

Weighted-average discount rate - financing lease

 

 

9.47