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Note 7 - Operating Leases

6 Months Ended

Jun. 30, 2023

7.	*OPERATING LEASES*

The Company has operating leases predominantly for operating facilities. As of June 30, 2023, the remaining lease terms on our operating leases range from approximately one (1) year to eight (8) 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:

	Three months ended				Six months ended
	June 30, 2023		June 30, 2022		June 30, 2023		June 30, 2022
Operating lease cost	$	239	$	226	$	480	$	458
Variable lease cost		29		23		57		47
Total lease cost	$	268	$	249	$	537	$	505

Supplemental cash flow information related to leases was as follows:

	Six-month period ended June 30,
	2023		2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	494	$	449
Right-of-use assets obtained in exchange for lease liabilities:	$	310	$	-

Supplemental consolidated balance sheet information related to leases was as follows:

	Balance sheet classification	June 30, 2023			December 31, 2022
Assets:
Operating lease right-of-use asset	Other noncurrent assets	$	2,187		$	2,187

Liabilities:
Current operating lease liability	Accrued expenses and other current liabilities	$	968		$	895
Operating lease liability, net of current portion	Other noncurrent liabilities		1,199			1,307
Total operating lease liability		$	2,167		$	2,202

Weighted-average remaining lease term (years)			4.4			4.7

Weighted-average discount rate			4.5	%		4.5	%

Future minimum lease payments as of June 30, 2023 are as follows:

Maturity of operating lease liabilities
2023	$	520
2024		652
2025		313
2026		245
2027		222
Thereafter		436
Total lease payments		2,388
Less: Imputed interest		(221	)
Present value of remaining lease payments	$	2,167