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Note 8 - Leases

3 Months Ended

Mar. 31, 2024

8.	Leases

The components of lease expense associated with our lease liabilities and supplemental cash flow information related to those leases were as follows (dollar amounts in thousands):

	For the Three Months Ended March 31,
	2024			2023
Operating lease cost, gross	$	627		$	639
Sublease income		(24	)		(24	)
Net Operating lease cost	$	603		$	615
Cash paid under operating leases, gross	$	747		$	180

Weighted average remaining lease term - months		119			134
Weighted average discount rate		6.6	%		6.5	%

As of March 31, 2024, maturities of lease liabilities were as follows (in thousands):

	*Gross Lease Payment*			*Payments received from Sublease*			*Net Lease Payment*
2024 (excluding the three months ended March 31, 2024)	$	2,246		$	(16	)	$	2,230
2025		2,878			—			2,878
2026		2,744			—			2,744
2027		2,618			—			2,618
2028		2,590			—			2,590
Thereafter		14,865			—			14,865
Total lease payments		27,941			(16	)		27,925
Less imputed interest		(7,907	)
Total	$	20,034

In August 2021, we entered into an operating lease agreement for our corporate headquarters in Atlanta, Georgia with an unaffiliated third party. This lease covers approximately 73,000 square feet and commenced in June 2022 for a 146 month term. The total commitment under this lease is approximately $27.8 million and is included in the table above. In connection with the commencement of this lease, we discontinued most of the subleasing arrangements with third parties for space at our corporate headquarters. A right-of-use asset and liability was recorded at the commencement date of this lease.

In addition, we occasionally lease certain equipment under cancelable and non-cancelable leases, which are accounted for as capital leases in our consolidated financial statements. As of March 31, 2024, we had no material non-cancelable capital leases with initial or remaining terms of more than one year.