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LEASES
 12 Months Ended
Dec. 31, 2023
Leases [Abstract]  
LEASES LEASES
The Company’s leasing activities include operating leases of its corporate office space from a related party (See Note 13. Related Party Transactions) and other operating and finance leases of vehicles and office space for the Company’s European operations.
At the inception of a contract, the Company determines whether it is or contains a lease based on specific criteria, including the use of a distinct identified asset, rights to economic benefits, and control over the asset's use. Consideration in the contract is allocated to lease and non-lease components based on relative stand-alone prices, with separate accounting for each. Leases are classified as either finance or operating leases per ASC Topic 842, with real estate comprising the majority of operating leases, and vehicles under finance leases.
At lease commencement, a lease liability is recorded at the present value of lease payments, using the implicit rate or the Company’s incremental borrowing rate, alongside a corresponding right-of-use ("ROU") asset. This asset includes initial lease payments and excludes incentives, and may be adjusted for options to extend or terminate the lease. Operating lease expenses are recognized on a straight-line basis over the lease term, including any variable payments not part of the initial liability, and these expenses are included in selling, general, and administrative expenses. Finance lease expenses are split between ROU asset amortization, over the shorter of the asset's useful life or lease term, and interest expense calculated using the effective interest rate method.
The future annual minimum lease payments required under the Company’s leases as of December 31, 2023 were as follows:
Future minimum lease paymentsOperating
Leases		Finance
Leases		Total
2024$1,075 $67 $1,142 
2025422 84 506 
2026344 118 462 
2027148 — 148 
2028
140 — 140 
Total future minimum lease payments2,129 269 2,398 
Less: Amount representing interest(194)(17)(211)
Present value of lease liabilities1,935 252 2,187 
Less: current portion(980)(59)(1,039)
Long-term portion$955 $193 $1,148 
LEASES LEASES
The Company’s leasing activities include operating leases of its corporate office space from a related party (See Note 13. Related Party Transactions) and other operating and finance leases of vehicles and office space for the Company’s European operations.
At the inception of a contract, the Company determines whether it is or contains a lease based on specific criteria, including the use of a distinct identified asset, rights to economic benefits, and control over the asset's use. Consideration in the contract is allocated to lease and non-lease components based on relative stand-alone prices, with separate accounting for each. Leases are classified as either finance or operating leases per ASC Topic 842, with real estate comprising the majority of operating leases, and vehicles under finance leases.
At lease commencement, a lease liability is recorded at the present value of lease payments, using the implicit rate or the Company’s incremental borrowing rate, alongside a corresponding right-of-use ("ROU") asset. This asset includes initial lease payments and excludes incentives, and may be adjusted for options to extend or terminate the lease. Operating lease expenses are recognized on a straight-line basis over the lease term, including any variable payments not part of the initial liability, and these expenses are included in selling, general, and administrative expenses. Finance lease expenses are split between ROU asset amortization, over the shorter of the asset's useful life or lease term, and interest expense calculated using the effective interest rate method.
The future annual minimum lease payments required under the Company’s leases as of December 31, 2023 were as follows:
Future minimum lease paymentsOperating
Leases		Finance
Leases		Total
2024$1,075 $67 $1,142 
2025422 84 506 
2026344 118 462 
2027148 — 148 
2028
140 — 140 
Total future minimum lease payments2,129 269 2,398 
Less: Amount representing interest(194)(17)(211)
Present value of lease liabilities1,935 252 2,187 
Less: current portion(980)(59)(1,039)
Long-term portion$955 $193 $1,148