Leases (Tables)
12 Months Ended
Dec. 31, 2021
Leases [Abstract]  
Components of Lease Cost for the Sublease

The components of lease cost under ASC 842 for the leases were as follows:

 

 

Year Ended December 31,

 

(in thousands)

2021

 

Operating lease cost

$

2,126

 

Short term lease cost

 

 

Variable lease cost

 

573

 

Total lease cost

$

2,699

 

Supplemental Disclosure of Cash Flow Information Related to Leases for the Sublease

Supplemental disclosure of cash flow information under ASC 842 for the leases were as follows:

 

 

 

Year Ended December 31,

 

(in thousands)

 

2021

 

Operating cash payments for operating leases

 

$

800

 

Schedule of Weighted Average Remaining Lease Term and Discount Rate for the Sublease

The weighted-average remaining lease term and discount rate for the leases were as follows:

 

(in thousands)

 

As of December 31, 2021

 

Weighted-average remaining lease term - operating leases

 

8.25 years

 

Weighted-average discount rate - operating leases

 

 

5.80

%

Schedule of Future Minimum Lease Payments under Non-Cancelable Operating Leases

Future minimum lease payments under the non-cancelable operating leases consisted of the following as of December 31, 2021:

 

Year Ending December 31,

 

(in thousands)

 

2022

 

$

4,008

 

2023

 

 

4,706

 

2024

 

 

4,847

 

2025

 

 

4,993

 

2026

 

 

5,143

 

Thereafter

 

 

17,787

 

Total future minimum lease payments

 

 

41,484

 

Less: imputed interest

 

 

(8,848

)

Present value of lease liabilities

 

$

32,636

 

 

 

 

 

Included in the condensed consolidated balance sheet (in thousands)

 

December 31, 2021

 

Lease liability

 

$

3,893

 

Lease liability, net of current portion

 

 

28,743

 

Total lease liability

 

$

32,636

 

 

Future minimum lease payments under non-cancelable operating leases under ASC 840 consisted of the following as of December 31, 2020:

 

Year Ending December 31,

 

(in thousands)

 

2021

 

$

800

 

2022

 

 

3,452

 

2023

 

 

4,706

 

2024

 

 

4,847

 

2025

 

 

4,993

 

Thereafter

 

 

22,930

 

Total

 

$

41,728