Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.21.2
Leases (Tables)
9 Months Ended
Sep. 30, 2021
Leases [Abstract]  
Schedule of lease cost
The components of lease expenses were as follows (dollars in thousands):

Three Months Ended
September 30,
Nine Months Ended September 30,
2021 2020 2021 2020
Operating lease cost $ 523  $ 388  $ 1,539  $ 1,103 
Finance lease cost:
Amortization of right-of-use assets $ 114  $ 159  $ 343  $ 488 
Interest on lease liabilities 13  15  48 
Total finance lease cost $ 117  $ 172  $ 358  $ 536 
Supplemental cash flow information related to leases was as follows (dollars in thousands):

Nine Months Ended September 30,
2021 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash used in operating leases $ 1,537  $ 1,180 
Financing cash used in finance leases 346  630 
Right-of-use assets obtained in exchange for lease obligations:
Operating leases $ 3,246  $ 997 
Finance leases —  — 
Schedule of supplemental balance sheet information Supplemental balance sheet information related to leases was as follows (dollars in thousands):
September 30,
2021
December 31,
2020
Operating Leases
Operating lease right-of-use assets $ 5,897  $ 3,858 
Operating lease liabilities:
Operating lease liabilities—current $ 1,894  $ 1,353 
Operating lease liabilities—less current portion 4,547  3,088 
Total operating lease liabilities $ 6,441  $ 4,441 
Finance Leases
Property and equipment, gross $ 2,182  $ 2,182 
Less: accumulated depreciation and amortization (1,503) (1,159)
Property and equipment, net $ 679  $ 1,023 
Finance lease liabilities:
Finance lease liabilities—current $ 80  $ 392 
Finance lease liabilities—less current portion 18  38 
Total finance lease liabilities $ 98  $ 430 
Weighted average remaining terms were as follows:

September 30,
2021
December 31,
2020
Weighted average remaining lease term
Operating Leases 3.77 years 3.64 years
Finance Leases 0.89 years 1.05 years
Weighted average discount rates were as follows:
 
September 30,
2021
December 31,
2020
Weighted average discount rate
Operating Leases 8.1  % 6.9  %
Finance Leases 7.5  % 7.6  %
Lessee, Operating Lease, Liability, Maturity
Maturities of lease liabilities were as follows (dollars in thousands):

As of September 30, 2021 Operating
Leases
Finance
Leases
Remaining 2021 $ 562  $ 62 
2022 2,301  28 
2023 1,880  12 
2024 1,168  — 
2025 997  — 
2026 and beyond 429  — 
Total lease payments 7,337  102 
Less: imputed interest (896) (4)
Total $ 6,441  $ 98 
Finance Lease, Liability, Fiscal Year Maturity
Maturities of lease liabilities were as follows (dollars in thousands):

As of September 30, 2021 Operating
Leases
Finance
Leases
Remaining 2021 $ 562  $ 62 
2022 2,301  28 
2023 1,880  12 
2024 1,168  — 
2025 997  — 
2026 and beyond 429  — 
Total lease payments 7,337  102 
Less: imputed interest (896) (4)
Total $ 6,441  $ 98