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v3.24.1.1.u2

LEASES (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2024
Leases [Abstract] |
SCHEDULE OF COMPONENTS OF LEASE EXPENSE | The components of lease expense were as follows: SCHEDULE OF COMPONENTS OF LEASE EXPENSE
(in thousands) |  | 2024 |  |  | 2023 |
|  | Three Months Ended |
|  | March 31, |
(in thousands) |  | 2024 |  |  | 2023 |
Operating lease expense |  | $ | 665 |  |  | $ | 690 |
Finance lease expense: |  |  |  |  |  |  |  |
Amortization of leased assets |  |  | - |  |  |  | 6 |
Interest on lease liabilities |  |  | - |  |  |  | - |
Total finance lease expense |  |  | - |  |  |  | 6 |
Total lease expense |  | $ | 665 |  |  | $ | 696 |
SCHEDULE OF CASH FLOW INFORMATION RELATED TO LEASES | Supplemental cash flow information related to leases was as follows: SCHEDULE OF CASH FLOW INFORMATION RELATED TO LEASES
(in thousands) |  | 2024 |  |  | 2023 |
|  | Three Months Ended |
|  | March 31, |
(in thousands) |  | 2024 |  |  | 2023 |
Cash paid for amounts included in measurement of lease liabilities: |  |  |  |  |  |  |  |
Operating cash flows from operating leases |  | $ | 639 |  |  | $ | 669 |
Operating cash flows from finance leases |  |  | - |  |  |  | - |
Financing cash flows from finance leases |  |  | - |  |  |  | 6 |
SCHEDULE OF BALANCE SHEET INFORMATION RELATED TO LEASES | Supplemental balance sheet information related to leases was as follows: SCHEDULE OF BALANCE SHEET INFORMATION RELATED TO LEASES
|  | March 31, |  |  | December 31, |
(in thousands) |  | 2024 |  |  | 2023 |
Operating leases |  |  |  |  |  |  |  |
Operating lease right-of-use assets |  | $ | 13,212 |  |  | $ | 13,758 |
Current portion of operating lease liability |  |  | 2,167 |  |  |  | 2,323 |
Operating lease liability, net of current portion |  |  | 12,358 |  |  |  | 12,714 |
Total operating lease liabilities |  | $ | 14,525 |  |  | $ | 15,037 |
Finance leases |  |  |  |  |  |  |  |
Property and equipment, at cost |  | $ | 112 |  |  | $ | 112 |
Accumulated depreciation |  |  | (102 | ) |  |  | (97 | )
Property and equipment, net |  | $ | 10 |  |  | $ | 15 |
Current portion of finance lease obligations |  | $ | - |  |  | $ | - |
Finance lease obligations, net of current portion |  |  | - |  |  |  | - |
Total finance lease liabilities |  | $ | - |  |  | $ | - |
Weighted Average Remaining Lease Term |  |  |  |  |  |  |  |
Operating leases |  |  | 8.4 years |  |  |  | 8.4 years |
Finance leases |  |  | - |  |  |  | - |
Weighted Average Discount Rate |  |  |  |  |  |  |  |
Operating leases |  |  | 4.6 | % |  |  | 4.6 | %
Finance leases |  |  | 0.0 | % |  |  | 0.0 | %
SCHEDULE OF MATURITIES OF LEASE LIABILITIES | As of March 31, 2024, maturities of lease liabilities were as follows: SCHEDULE OF MATURITIES OF LEASE LIABILITIES
(in thousands) |  | Operating |  |  | Finance |
Years Ended December 31, |  | leases |  |  | leases |
2024 (remainder of the year) |  |  | 1,670 |  |  |  | - |
2025 |  |  | 2,063 |  |  |  | - |
2026 |  |  | 2,013 |  |  |  | - |
2027 |  |  | 1,983 |  |  |  | - |
Thereafter |  |  | 9,663 |  |  |  | - |
Total minimum lease payments |  |  | 17,392 |  |  |  | - |
Less: amount representing interest |  |  | (2,867 | ) |  |  | - |
Present value of lease liabilities |  | $ | 14,525 |  |  | $ | - |

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- Definition Tabular disclosure of contractual obligation by timing of payment due. Includes, but is not limited to, long-term debt obligation, lease obligation, and purchase obligation. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Regulation S-X (SX) -Number 210 -Section 12 -Subsection 04 -Subparagraph (a) -Publisher SEC Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 + Details
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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-4 + Details
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