XML 24 R13.htm IDEA: XBRL DOCUMENT

Note 7 - Operating Leases

6 Months Ended

Jun. 30, 2024

7.	*OPERATING LEASES*

The Company has operating leases predominantly for operating facilities. As of June 30, 2024, the remaining lease terms on our operating leases range from approximately less than one (1) year to seven (7) 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, 2024		June 30, 2023		June 30, 2024		June 30, 2023
Operating lease cost	$	268	$	239	$	530	$	480
Variable lease cost		24		29		52		57
Total lease cost	$	292	$	268	$	582	$	537

Supplemental cash flow information related to leases was as follows:

	Six-month period ended June 30,
	2024		2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	568	$	494
Right-of-use assets obtained in exchange for lease liabilities:	$	1,391	$	310

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

	Balance sheet classification	June 30, 2024			December 31, 2023
Assets:
Operating lease right-of-use asset	Other noncurrent assets	$	4,325		$	3,589

Liabilities:
Current operating lease liability	Accrued expenses and other current liabilities	$	1,017		$	894
Operating lease liability, net of current portion	Other noncurrent liabilities		3,285			2,644
Total operating lease liability		$	4,302		$	3,538

Weighted-average remaining lease term (years)			5.1			5.3

Weighted-average discount rate			6.8	%		4.5	%

Future minimum lease payments as of June 30, 2024 are as follows:

Maturity of operating lease liabilities
2024	$	539
2025		1,016
2026		942
2027		969
2028		977
Thereafter		624
Total lease payments		5,067
Less: Imputed interest		(765	)
Present value of remaining lease payments	$	4,302