Annual report pursuant to Section 13 and 15(d)

Leases (Tables)

Leases (Tables)

12 Months Ended

Dec. 31, 2021

Supplemental balance sheet information related to the operating lease ROU asset and lease liabilities as of December 31, 2021 and December 31, 2020 are as follows:


(in thousands)	Balance Sheet Classification	2021		2020
Assets
Operating lease right of-use assets	Non-current assets	$	5,383	$	5,489

Liabilities
Current operating lease liabilities	Current operating lease liabilities	1,059		788
Non-current operating lease liabilities	Non-current operating lease liabilities	7,680		7,619
Total lease liabilities		$	8,739	$	8,407

Lease, Cost


(in thousands)	Consolidated Statement of Operations	2021		2020		2019
Operating lease costs
Operating lease costs	Selling, general and administrative	$	1,045	$	653	$	229

Short-term lease costs
Office Building	Selling, general and administrative	27		288		68

Variable lease costs
Office building	Selling, general and administrative	167		3		—
Total rent expense		$	1,239	$	944	$	297

The weighted-average remaining lease term and discount rate for the years ended December 31, 2021 and December 31, 2020 are as follows:


	December 31, 2021	December 31, 2020
Weighted average remaining lease term (in years)	9.49	10.67
Weighted average discount rate	5.2%	5.2%

Supplemental cash flow information related to operating leases for the years ended December 31, 2021, December 31, 2020 and December 31, 2019 are as follows:


(in thousands)	2021		2020		2019
Cash paid for amounts included in the measurement of lease liabilities	$	646	$	267	$	182
Initial recognition of operating lease right-of-use asset	$	419	$	5,804	$	—

Lessee, Operating Lease, Liability, Maturity

Future maturities of operating lease liabilities as of December 31, 2021 are as follows:


(in thousands)	Operating Lease Payments
2022	$	1,143
2023	1,061
2024	1,085
2025	1,109
2026	1,135
Thereafter	5,638
Total lease payments	11,171
Less: imputed interest	(2,432)
Total	$	8,739