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Leases (Tables) | 6 Months Ended
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Jun. 30, 2024
Leases [Abstract] |
Schedule of Lease Term and Discount Rate | This office replaced the New Jersey office as one of the Company’s key operating centers and the total commitment of the lease is approximately $2.1 million.
Lease Term and Discount Rate |  | As of June 30, 2024 |  |  | As of December 31, 2023 |
Weighted average remaining lease term – operating leases (in years) |  |  | 3.6 |  |  |  | 3.9 |
Weighted average discount rate – operating leases |  |  | 7.1 | % |  |  | 6.9 | %
Schedule of Operating Lease Cost |
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Operating lease cost |  | $ | 251,000 |  |  | $ | 304,000 |  |  | $ | 534,000 |  |  | $ | 609,000 |
Short-term lease cost |  |  | 61,000 |  |  |  | 136,000 |  |  |  | 221,000 |  |  |  | 279,000 |
Variable lease cost |  |  | 66,000 |  |  |  | 51,000 |  |  |  | 120,000 |  |  |  | 81,000 |
Total Rent and occupancy |  | $ | 378,000 |  |  | $ | 491,000 |  |  | $ | 875,000 |  |  | $ | 969,000 |
Cash paid for amounts included in the measurement of lease liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating cash flows from operating leases |  | $ | 267,000 |  |  | $ | 328,000 |  |  | $ | 536,000 |  |  | $ | 654,000 |
Schedule of Future Annual Minimum Payments | Future annual minimum payments for operating leases with initial terms of greater than one year as of June 30, 2024 were as follows:
Year |  | Amount |
2024 |  | $ | 402,000 |
2025 |  |  | 861,000 |
2026 |  |  | 694,000 |
2027 |  |  | 520,000 |
2028 |  |  | 443,000 |
Remaining balance of lease payments |  |  | 2,920,000 |
Less: difference between undiscounted cash flows and discounted cash flows |  |  | 375,000 |
Lease liabilities |  | $ | 2,545,000 |

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-4 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-6 + Details
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- Definition Tabular disclosure of components of income from operating lease. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479773/842-30-50-5 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 270 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482964/270-10-50-6A + Details
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