Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.22.2.2
Leases (Tables)
9 Months Ended
Sep. 30, 2022
Leases [Abstract]  
Summary of Leases by Balance Sheet Category

The following table provides a summary of leases by balance sheet category as of September 30, 2022 and December 31, 2021 (In thousands):

Description

 

September 30, 2022

 

 

December 30, 2021

 

 

Operating right-of-use assets

 

$

4,033

 

 

$

4,333

 

 

Operating lease liability - current

 

$

1,124

 

 

$

659

 

 

Operating lease liability - non-current

 

$

3,076

 

 

$

3,712

 

 

Components of Lease Expenses

The components of lease expenses for the three and nine months ended September 30, 2022, were as follow (In thousands):

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

 

September 30, 2022

 

 

September 30, 2022

 

 

Operating lease cost

 

$

248

 

 

$

783

 

 

 

Summary of Other Information Related to Leases

The following table provides a summary of other information related to leases for the nine months ended September 30, 2022 (In thousands):

 

 

Nine Months Ended

 

 

 

 

September 30, 2022

 

 

Cash paid for amounts included in the measurement of lease liabilities:

 

 

 

 

Operating cash flows from operating leases

 

$

767

 

 

Right-of-use assets obtained in exchange of new operating lease liabilities

 

$

86

 

 

Weighted-average remaining lease term - operating leases

 

7.6 years

 

 

Weighted-average discount rate - operating leases

 

 

8

%

 

Maturity of Lease Liabilities under Non-cancellable Operating Leases

Maturity of lease liabilities under our non-cancellable operating leases as of September 30, 2022 are as follow (In thousands):

Fiscal Year

 

Operating leases

 

2022 (remaining)

 

$

896

 

2023

 

 

2,921

 

2024

 

 

1,838

 

2025

 

 

1,455

 

2026

 

 

642

 

2027

 

 

367

 

Thereafter

 

 

1,145

 

Total future minimum lease payments

 

 

9,264

 

Less: imputed interest

 

 

(5,064

)

Present value of lease liabilities

 

$

4,200