Quarterly report pursuant to Section 13 or 15(d)

Operating Leases (Tables)

v3.19.3
Operating Leases (Tables)
 9 Months Ended
Sep. 30, 2019
Leases [Abstract]  
Schedule of Components of Lease Cost

Components of lease cost are as follows:

 

   

Three months ended

September 30, 2019

    

Nine months ended

September 30, 2019

  
Operating lease cost   $ 434,000     $ 1,157,000  
Variable lease cost   $ 82,000     $ 241,000  
Short-term lease cost   $ 32,000     $ 113,000  

Schedule of Supplemental Cash Flow Information Related to Leases

The following table presents information about the amount and timing of cash flows arising from operating leases as of September 30, 2019:

 

Maturity of lease liabilities:      
2019, remainder   $ 422,000  
2020     1,699,000  
2021     1,713,000  
2022     1,727,000  
2023     1,741,000  
Thereafter     3,667,000  
Total undiscounted operating lease payments     10,969,000  
Less: imputed interest     2,791,000  
Present value of operating lease liabilities   $ 8,178,000  
         
Balance sheet classification:        
Current portion of lease liability   $ 1,696,000  
Long-term lease liability     6,482,000  
Total operating lease liabilities   $ 8,178,000  
         
Other information:        
Weighted-average remaining lease term for operating leases     76 months  
Weighted-average discount rate for operating leases     9.6 %