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Note 8 - Operating Leases

3 Months Ended

Mar. 31, 2025

8.	*OPERATING LEASES*

The Company has operating leases predominantly for operating facilities. As of March 31, 2025, 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:

	Three-month period ended March 31,
	2025		2024
Operating lease cost	$	296	$	262
Variable lease cost		24		28
Total lease cost	$	320	$	290

Supplemental cash flow information related to leases was as follows:

	Three-month period ended March 31,
	2025		2024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	314	$	265
Right-of-use assets obtained in exchange for lease liabilities:	$	-	$	-

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

	Balance sheet classification	March 31, 2025			December 31, 2024
Assets:
Operating lease right-of-use asset	Other noncurrent assets	$	3,905		$	4,153

Liabilities:
Current operating lease liability	Accrued expenses and other current liabilities	$	1,125		$	1,138
Operating lease liability, net of current portion	Other noncurrent liabilities		2,782			2,998
Total operating lease liability		$	3,907		$	4,136

Weighted-average remaining lease term (years)			4.3			4.5

Weighted-average discount rate			6.7	%		6.7	%

Future minimum lease payments as of March 31, 2025 are as follows:

Maturity of operating lease liabilities
2025	$	873
2026		1,038
2027		984
2028		968
2029		508
Thereafter		107
Total lease payments		4,478
Less: Imputed interest		(571	)
Present value of remaining lease payments	$	3,907