Post-effective amendment to a registration statement that is not immediately effective upon filing

Leases

v3.22.1
Leases
 12 Months Ended
Dec. 31, 2021
Leases [Abstract]  
Leases Leases
The Company leases its office and manufacturing facilities under four non-cancellable operating leases which expire in 2023 to 2027 and one month to-month operating lease. During the year ended December 31, 2021, the Company signed three operating leases: (1) office in Europe, (2) manufacturing facility and (3) a R&D facility. The contractual obligations for the manufacturing facility and R&D facility was $10.9 million and $0.5 million, respectively, in base rent and certain reimbursement of lessor’s operating expenses. The agreements include a provision for renewal at the then market rate for terms specified in each lease. During the year ended December 31, 2021, the Company also signed a finance lease for technology equipment.
Total ROU assets and lease liabilities are as follows:
December 31,
2021 2020
(In thousands)
Right-of-use assets:
Net book value (Other assets) $ 11,073  $ 633 
Operating lease liabilities:
Current (Accrued expense and other current liabilities) $ 2,222  $ 494 
Noncurrent (Other noncurrent liabilities) 9,143  232 
11,365  726 
Financing lease liabilities:
Current (Accrued expense and other current liabilities) $ 33  $ — 
Noncurrent (Other noncurrent liabilities) 41  — 
$ 74  $ — 
Total lease liabilities $ 11,439  $ 726 
There were no impairments recorded related to these assets as of December 31, 2021 and 2020.
Information about lease-related balances were as follows:
December 31,
2021 2020
(In thousands, except years and percentages)
Operating lease expense $ 1,058  $ 571 
Financing lease expense 31  — 
Short-term lease expense 186  27 
Total lease expense $ 1,275  $ 598 
Cash paid for leases $ 1,018  $ 557 
Weighted – average remaining lease term – operating leases (years) 4.9 1.6
Weighted – average discount rate – operating leases 4.4% 4.5%
Maturity of operating lease liabilities as of December 31, 2021 are as follows:
(In thousands)
2022
 $ 2,306 
2023
 2,696 
2024
 2,670 
2025 2,232 
2026 2,315 
Thereafter 599 
Total operating lease payments $ 12,818 
Less portion representing imputed interest (1,453)
Total operating lease liabilities $ 11,365 
Less current portion 2,222 
Long-term portion $ 9,143 
Leases Leases
The Company leases its office and manufacturing facilities under four non-cancellable operating leases which expire in 2023 to 2027 and one month to-month operating lease. During the year ended December 31, 2021, the Company signed three operating leases: (1) office in Europe, (2) manufacturing facility and (3) a R&D facility. The contractual obligations for the manufacturing facility and R&D facility was $10.9 million and $0.5 million, respectively, in base rent and certain reimbursement of lessor’s operating expenses. The agreements include a provision for renewal at the then market rate for terms specified in each lease. During the year ended December 31, 2021, the Company also signed a finance lease for technology equipment.
Total ROU assets and lease liabilities are as follows:
December 31,
2021 2020
(In thousands)
Right-of-use assets:
Net book value (Other assets) $ 11,073  $ 633 
Operating lease liabilities:
Current (Accrued expense and other current liabilities) $ 2,222  $ 494 
Noncurrent (Other noncurrent liabilities) 9,143  232 
11,365  726 
Financing lease liabilities:
Current (Accrued expense and other current liabilities) $ 33  $ — 
Noncurrent (Other noncurrent liabilities) 41  — 
$ 74  $ — 
Total lease liabilities $ 11,439  $ 726 
There were no impairments recorded related to these assets as of December 31, 2021 and 2020.
Information about lease-related balances were as follows:
December 31,
2021 2020
(In thousands, except years and percentages)
Operating lease expense $ 1,058  $ 571 
Financing lease expense 31  — 
Short-term lease expense 186  27 
Total lease expense $ 1,275  $ 598 
Cash paid for leases $ 1,018  $ 557 
Weighted – average remaining lease term – operating leases (years) 4.9 1.6
Weighted – average discount rate – operating leases 4.4% 4.5%
Maturity of operating lease liabilities as of December 31, 2021 are as follows:
(In thousands)
2022
 $ 2,306 
2023
 2,696 
2024
 2,670 
2025 2,232 
2026 2,315 
Thereafter 599 
Total operating lease payments $ 12,818 
Less portion representing imputed interest (1,453)
Total operating lease liabilities $ 11,365 
Less current portion 2,222 
Long-term portion $ 9,143