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Note 5 - Leases

3 Months Ended

Mar. 31, 2025

NOTE 5:

LEASES

The Company leases substantially all of its office space and vehicles under operating leases. The Company's leases have original lease periods expiring between 2025 and 2034. Many leases include one or more options to renew. The Company does not assume renewals in its determination of the lease term unless the renewals are deemed to be reasonably certain. Lease payments included in the measurement of the lease liability comprise the following: the fixed non-cancelable lease payments, payments for optional renewal periods where it is reasonably certain the renewal period will be exercised, and payments for early termination options unless it is reasonably certain the lease will not be terminated early.

The following is a summary of weighted average remaining lease terms and discount rates for all of the Company’s operating leases:

March 31, 2025

(Unaudited)

Weighted average remaining lease term (years)

4.58

Weighted average discount rates

3.89

Total operating lease cost and cash payments for operating leases were as follows:

	Three months ended March 31,
	2025		2024
	(unaudited)		(unaudited)

Operating lease cost	$	710	$	663
Cash payments for operating leases		989		622

Maturities of lease liabilities are as follows:

The remainder of 2025	$	1,725
2026		1,082
2027		808
2028		445
2029		327
2030 and thereafter		840
Total undiscounted cash flows		5,227
Less imputed interest		395
Present value of lease liabilities	$	4,832

During March 2025, the Company signed an operating lease agreement for new offices in Israel, resulting in an additional lease commitment of approximately $9,900. As of March 31, 2025, the lease has not yet commenced. The lease is expected to commence during 2025, and will remain in effect until December 30, 2035, with an option to extend the lease for an additional period of up to 5 years, subject to the conditions of the lease agreement.