XML 30 R19.htm IDEA: XBRL DOCUMENT

Note 11 - Leases

3 Months Ended

Mar. 31, 2025

Leases of Lessee and Lessor Disclosure [Text Block]

NOTE 11 LEASES

The Company has operating leases for office space that include fixed base rent payments, as well as variable rent payments to reimburse the landlord for operating expenses and taxes. The Company’s variable lease payments do not depend on a published index or rate, and therefore, are expensed as incurred. The Company includes only fixed payments for lease components in the measurement of the right-of-use asset and lease liability. There are no residual value guarantees.

Operating lease costs, variable lease costs and short-term lease costs included in general and administrative expenses for the three months ended March 31, 2025 and March 31, 2024 were as follows:

(in thousands)	Three months ended March 31,
	2025		2024
Operating lease cost	$	193	$	143
Variable lease cost		56		70
Short-term lease cost		29		25

The annual maturities of lease liabilities as of March 31, 2025 were as follows:

(in thousands)	Lease Commitments
2025	$	655
2026		790
2027		642
2028		381
2029		277
2030 and thereafter		543
Total undiscounted lease payments		3,288
Imputed interest		366
Total lease liabilities	$	2,922

The weighted-average remaining lease term for our operating leases was 5.23 years as of March 31, 2025. The weighted-average discount rate of our operating leases was 6.25% as of March 31, 2025. Cash paid for amounts included in the measurement of lease liabilities was $0.2 million and $0.2 million for the three months ended March 31, 2025 and March 31, 2024, respectively.