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Note 8 - Operating Leases

12 Months Ended

Dec. 31, 2024

Note 8 – Operating Leases

The Company has operating leases predominantly for operating facilities. As of December 31, 2024, the remaining lease terms on our operating leases range from approximately 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:

	Year ended December 31,
	2024		2023
Operating lease cost	$	1,101	$	1,016
Variable lease cost		100		114
Total lease cost	$	1,201	$	1,130

Supplemental cash flow information related to leases was as follows:

	Year ended December 31,
	2024		2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	1,108	$	1,036
Right-of-use assets obtained in exchange for lease liabilities:	$	1,706	$	2,192

Supplemental balance sheet information related to leases was as follows:

		December 31,
	Balance Sheet Classification	2024			2023
Assets:
Operating lease right-of-use asset	Other noncurrent assets	$	4,153		$	3,589

Liabilities:
Current operating lease liability	Accrued expenses and other current liabilities	$	1,138		$	894
Operating lease liability, net of current portion	Other noncurrent liabilities		2,998			2,644
Total operating lease liability		$	4,136		$	3,538

Weighted-average remaining lease term (years)			4.5			5.3

Weighted-average discount rate			6.7	%		4.5	%

Future minimum lease payments as of December 31, 2024 are as follows:

Maturity of Operating Lease Liabilities
2025	$	1,178
2026		1,035
2027		981
2028		965
2029		507
Thereafter		107
Total lease payments	$	4,773
Less: Imputed interest		(637	)
Present value of remaining lease payments	$	4,136