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Note 8 - Leases

6 Months Ended

Jun. 30, 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 June 30,*						*For the Six Months Ended June 30,*
	*2024*			*2023*			*2024*			*2023*
Operating lease cost, gross	$	637		$	637		$	1,264		$	1,276
Sublease income		(24	)		(23	)		(48	)		(47	)
Net Operating lease cost	$	613		$	614		$	1,216		$	1,229
Cash paid under operating leases, gross	$	752		$	181		$	1,499		$	361

Weighted average remaining lease term - months		116			128
Weighted average discount rate		6.6	%		6.6	%

As of June 30, 2024, maturities of lease liabilities were as follows (in thousands):

	*Gross Lease Payment*			*Payments received from Sublease*			*Net Lease Payment*
2024 (excluding the six months ended June 30, 2024)	$	1,504		$	(49	)	$	1,455
2025		2,903			(41	)		2,862
2026		2,769			—			2,769
2027		2,638			—			2,638
2028		2,590			—			2,590
Thereafter		14,865			—			14,865
Total lease payments		27,269			(90	)		27,179
Less imputed interest		(7,590	)
Operating lease liabilities	$	19,679

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 condensed consolidated financial statements. As of June 30, 2024, we had no material non-cancelable capital leases with initial or remaining terms of more than one year.