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Note 8 - Operating Leases

12 Months Ended

Dec. 31, 2022

Note 8 – Operating Leases

The Company has operating leases predominantly for operating facilities. As of December 31, 2022, the remaining lease terms on our operating leases range from approximately one (1) year to nine (9) years. Lease terms include renewal options reasonably certain of exercise. There is no transfer of title or option to purchase the leased assets upon expiration. There are no residual value guarantees or material restrictive covenants.

The components of lease expense for the current and prior-year comparative periods were as follows:

	Year ended December 31,
	2022		2021
Operating lease cost	$	894	$	762
Variable lease cost		95		79
Total lease cost	$	989	$	841

Supplemental cash flow information related to leases was as follows:

	Year ended December 31,
	2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	908	$	744
Right-of-use assets obtained in exchange for lease liabilities:	$	476	$	1,020

Supplemental balance sheet information related to leases was as follows:

		December 31,
	Balance Sheet Classification	2022			2021
Assets:
Operating lease right-of-use asset	Other noncurrent assets	$	2,187		$	2,581

Liabilities:
Current operating lease liability	Accrued expenses and other current liabilities	$	895		$	867
Operating lease liability, net of current portion	Other noncurrent liabilities		1,307			1,743
Total operating lease liability		$	2,202		$	2,610

Weighted-average remaining lease term (years)			4.4			4.5

Weighted-average discount rate			4.5	%		4.5	%

Future minimum lease payments as of December 31, 2022 are as follows:

Maturity of Operating Lease Liabilities
2023	$	918
2024		518
2025		215
2026		217
2027		217
Thereafter		425
Total lease payments	$	2,510
Less: Imputed interest		(308	)
Present value of remaining lease payments	$	2,202