Axogen, Inc. Annual report pursuant to Section 13 and 15(d)

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2020

The components of total lease expense for the year ended December 31, 2020 were as follows:


	2020		2019
For the Fiscal Year Ended For the fiscal years ended December 31,
Finance lease costs
Amortization of right-to-use assets	$	22	$	22
Interest on lease liabilities	3		4
Operating lease costs	2,777		1,910
Short term lease costs	116		41
Variable lease costs	18		17
Total lease cost	$	2,936	$	1,994

Supplemental balance sheet information related to leases as of December 31, 2020 was as follows:


	2020		2019
Operating Leases
Operating lease right-of-use assets	$	15,614	$	3,133
Current maturities of long-term obligations	$	846	$	1,719
Long term obligations	$	20,864	$	1,565
Finance Leases
Finance lease right-of-use assets	$	64	$	87
Current maturities of long-term obligations	$	17	$	17
Long term obligations	$	13	$	30

Other information related to leases was as follows:


	2020			2019
Cash paid for amounts included in the measurement of operating lease liabilities	$	1,913		$	1,773
Right-to-use assets obtained in exchange for new finance lease liabilities	$	16		$	16
Weighted-average remaining lease term - finance leases	2			3
Weighted-average remaining lease term - operating leases	12			2
Weighted-average discount rate - finance leases	7.28		%	7.28		%
Weighted-average discount rate - operating leases	9.44		%	6.28		%

Future minimum lease payments under non-cancellable leases as of December 31, 2020 were as follows:


Year Ending December 31,	Operating Leases		Finance Leases
2021	$	3,030	$	19
2022	3,750		10
2023	2,545		3
2024	2,606		—
2025	2,671		—
Thereafter	26,677		—
Total Future Minimum Lease Payments	$	41,279	$	32
Less future payments for leases that have not yet commenced	—		—
Less imputed interest on commenced leases	(19,573)		(2)
Total Lease Liability	$	21,706	$	30

Future minimum lease payments under non-cancellable leases as of December 31, 2020 were as follows:


Year Ending December 31,	Operating Leases		Finance Leases
2021	$	3,030	$	19
2022	3,750		10
2023	2,545		3
2024	2,606		—
2025	2,671		—
Thereafter	26,677		—
Total Future Minimum Lease Payments	$	41,279	$	32
Less future payments for leases that have not yet commenced	—		—
Less imputed interest on commenced leases	(19,573)		(2)
Total Lease Liability	$	21,706	$	30