Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.22.1
Leases (Tables)
3 Months Ended
Mar. 31, 2022
Leases [Abstract]  
Summary of Weighted Average Remaining Lease Term and Discount Rates

The weighted average remaining lease term and discount rates used in the measurement of the Company’s right-of-use assets and lease liabilities are as follows:

 

 

March 31, 2022

Weighted average remaining lease term:

 

 

Operating leases

 

1.8 years

Finance leases

 

3.1 years

Weighted average discount rate:

 

 

Operating leases

 

8.9%

Finance leases

 

8.4%

Components of Lease Expense

The components of lease expense consisted of the following:

 

 

Three Months Ended

 

 

 

March 31, 2022

 

Operating lease expense

 

$

316

 

Short-term lease expense

 

 

9,268

 

Finance lease expense:

 

 

 

Amortization of right-of-use assets

 

 

308

 

Interest on lease liabilities

 

 

78

 

Total

 

$

9,970

 

Schedule of Supplemental Cash Flow Information Related to Leases

Supplemental cash flow information related to leases is as follows:

 

 

Three Months Ended

 

 

 

March 31, 2022

 

Cash paid for amounts included in the measurement of lease liabilities

 

 

 

Operating cash flows used for operating lease

 

$

248

 

Financing cash flow used for finance leases

 

$

233

 

Right-of-use assets upon adoption of ASC 842 and obtained in exchange for new lease liabilities

 

 

 

Operating leases

 

$

1,678

 

Finance leases

 

$

3,690

 

Schedule of Future Maturities of Lease Liability

As of March 31, 2022, the future maturities of lease liabilities are as follows:

Fiscal Year

 

Operating Leases

 

 

Finance Leases

 

Remainder of 2022

 

$

959

 

 

$

1,150

 

2023

 

 

325

 

 

 

1,050

 

2024

 

 

258

 

 

 

1,050

 

2025

 

 

67

 

 

 

592

 

2026

 

 

-

 

 

 

1

 

Total lease payments

 

 

1,609

 

 

 

3,843

 

Less: imputed interest

 

 

(119

)

 

 

(303

)

Total lease liabilities

 

$

1,490

 

 

$

3,540

 

Schedule of Minimum Future Payments on Non-Cancelable Operating Leases and Capital Leases

As of December 31, 2021, in accordance with prior guidance, ASC 840, the minimum future payments on non-cancellable operating leases and capital leases are as follows:

Fiscal Year

 

Operating Leases

 

 

Capital Leases

 

2022

 

$

1,107

 

 

$

1,241

 

2023

 

 

308

 

 

 

896

 

2024

 

 

258

 

 

 

891

 

2025

 

 

67

 

 

 

447

 

Total

 

$

1,740

 

 

$

3,475