Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.23.2
Leases (Tables)
6 Months Ended
Jun. 30, 2023
Leases  
Schedule of Components of Lease Costs

The following table provides the components of lease cost recognized in the condensed consolidated statements of operations and comprehensive income:

Three Months Ended June 30, 

Six Months Ended June 30, 

    

2023

    

2022

    

2023

    

2022

Operating lease cost

$

702

$

203

$

1,185

$

483

Finance lease cost:

   

   

   

   

Amortization of lease assets

257

257

514

514

Interest on lease liabilities

97

117

199

239

Finance lease costs

354

374

713

753

Total lease cost

$

1,056

$

577

$

1,898

$

1,236

Weighted Average Discount Rates and Weighted Average Remaining Lease Term

The following table provides the weighted average discount rates and weighted average remaining lease terms for the Company’s leases:

    

June 30, 2023

    

December 31, 2022

Operating leases

Weighted average discount rate

19.1%

8.0%

Weighted average remaining lease term

13.65 years

5.49 years

Finance leases

Weighted average discount rate

8.0%

8.0%

Weighted average remaining lease term

3.82 years

4.66 years

Schedule of Maturity of Contractual Undiscounted Finance Lease Liabilities

Future minimum lease payments under the Company’s non-cancellable leases as of June 30, 2023 are as follows:

Year ended December 31,

    

Finance

    

Operating

Remainder of 2023

$

732

$

1,222

2024

1,489

2,433

2025

1,212

2,468

2026

926

2,530

2027

916

2,594

2028 and thereafter

380

28,264

Total undiscounted lease liabilities

5,655

39,511

Interest or discount on lease liabilities

(856)

(26,654)

Total present value of minimum lease payments

4,799

12,857

Lease liability - current portion

(1,136)

(81)

Lease liability

$

3,663

$

12,776

Schedule of Maturity of Contractual Undiscounted Operating Lease Liabilities

Future minimum lease payments under the Company’s non-cancellable leases as of June 30, 2023 are as follows:

Year ended December 31,

    

Finance

    

Operating

Remainder of 2023

$

732

$

1,222

2024

1,489

2,433

2025

1,212

2,468

2026

926

2,530

2027

916

2,594

2028 and thereafter

380

28,264

Total undiscounted lease liabilities

5,655

39,511

Interest or discount on lease liabilities

(856)

(26,654)

Total present value of minimum lease payments

4,799

12,857

Lease liability - current portion

(1,136)

(81)

Lease liability

$

3,663

$

12,776