| LEASES |
We determine if a contract contains
a lease at inception. Our material operating leases consist of retail and warehouse locations as well as office space. Our leases generally
have remaining terms of 1-5 years, most of which include options to extend the leases for additional 3 to 5-year periods. Generally, the
lease term is the minimum of the noncancelable period of the lease or the lease term inclusive of reasonably certain renewal periods.
| |
|
March 31,
2021 |
|
|
December 31,
2020 |
|
| Right to use assets, operating lease assets |
|
$ |
14,389 |
|
|
$ |
12,088 |
|
| |
|
|
|
|
|
|
|
|
| Current lease liability |
|
$ |
3,870 |
|
|
$ |
3,001 |
|
| Non-current lease liability |
|
|
10,824 |
|
|
|
9,479 |
|
| |
|
$ |
14,694 |
|
|
$ |
12,480 |
|
| |
|
March 31,
2021 |
|
|
March 31,
2020 |
|
| Weighted average remaining lease term |
|
|
3.34 years |
|
|
|
3.24 years |
|
| Weighted average discount rate |
|
|
6.0 |
% |
|
|
7.6 |
% |
| |
|
Three
Months Ended
March 31, |
|
| |
|
2021 |
|
|
2020 |
|
| Operating lease costs |
|
$ |
1,541 |
|
|
$ |
925 |
|
| Short-term lease costs |
|
|
141 |
|
|
|
16 |
|
| Total operating lease costs |
|
$ |
1,682 |
|
|
$ |
941 |
|
The following table presents the maturity of the Company’s operating
lease liabilities as of March 31, 2021:
| 2021 (remainder of the year) |
|
$ |
4,005 |
|
| 2022 |
|
|
4,564 |
|
| 2023 |
|
|
3,850 |
|
| 2024 |
|
|
2,713 |
|
| 2025 |
|
|
2,256 |
|
| Thereafter |
|
|
3,106 |
|
| Total lease payments |
|
|
20,494 |
|
| Less: Imputed interest |
|
|
(5,800 |
) |
| Lease Liability at March 31, 2021 |
|
$ |
14,694 |
|
|