Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies (Tables)

v3.23.2
Commitments and Contingencies (Tables)
6 Months Ended
Jun. 30, 2023
Commitments and Contingencies  
Schedule of lease expense

During three and six months ended June 30, 2023 and 2022, the Company recorded the following as lease expense to current period operations:

    

Three Months Ended June 30, 

    

Six Months Ended June 30, 

    

($ in thousands)

2023

2022

2023

2022

Operating lease cost

$

950

$

824

$

1,969

$

1,649

Shared lease costs

 

(519)

(523)

 

(1,034)

(1,050)

Variable lease cost

 

199

166

 

400

261

Total lease expense

$

630

$

467

$

1,335

$

860

Summary of Quantitative Information about Operating Leases

The following tables summarize quantitative information about the Company’s operating leases, under the adoption of ASC Topic 842, Leases:

    

Six Months Ended June 30, 

 

    

($ in thousands)

2023

2022

 

Operating cash flows from operating leases

$

(1,762)

$

(1,741)

Right-of-use assets exchanged for new operating lease liabilities

$

$

Weighted-average remaining lease term – operating leases (years)

 

4.4

 

5.0

Weighted-average discount rate – operating leases

 

6.5

%  

 

6.3

%

Schedule of Future Minimum Lease Payments

    

Future Lease

($ in thousands)

Liability

Six Months Ended December 31, 2023

$

1,788

Year Ended December 31, 2024

 

3,774

Year Ended December 31, 2025

 

3,768

Year Ended December 31, 2026

3,507

Year Ended December 31, 2027

3,191

Other

 

11,669

Total operating lease liabilities

 

27,697

Less: present value discount

 

(5,866)

Net operating lease liabilities, short-term and long-term

$

21,831