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Note 10 - Leases

3 Months Ended

Mar. 31, 2024

Notes to Financial Statements

Lessee, Operating Leases [Text Block]

10.

Leases

The Company is a lessee under certain operating leases for office space and equipment.

The components of lease expenses consisted of the following for the periods presented (in thousands):

		*Three Months Ended*
		*March 31,*
Lease Costs	*Classification*	*2024*		*2023*
Operating lease cost	Selling, General and Administrative Expense	$	170	$	70
Short-term lease cost	Selling, General and Administrative Expense		176		76
Variable costs	Selling, General and Administrative Expense		-		16
Total lease cost		$	346	$	162

⁽¹⁾ Variable lease expense consists primarily of property taxes, property insurance, and common area or other maintenance costs for the Company’s leases of office space.

The following includes supplemental information for the periods presented (in thousands):

	*Three Months Ended*
	*March 31,*
	*2024*		*2023*

Operating cash flows from operating leases	$	176	$	150

Right-of-use assets obtained in exchange for lease obligations
Operating leases	$	2,104	$	303

Balance sheet information related to leases consisted of the following as of the periods presented (in thousands):

	March 31, 2024			December 31, 2023
Assets:
Operating lease right-of-use assets	$	1,682		$	2,323
Liabilities:
Current portion of operating lease liabilities		522			1,163
Non-current portion of operating lease liabilities		1,160			1,160
Total operating lease liabilities	$	1,682		$	2,323

Weighted-average remaining lease term - operating leases (in years)		2.91			2.64
Weighted-average discount rate - operating leases		7.9	%		8.8	%

The following table summarizes the maturities of lease liabilities as of March 31, 2024 (in thousands):

Period Ending December 31,	*Amount*
2024	$	1,045
2025		555
2026		175
2027		152
2028		110
Thereafter		5
Total Lease Payments		2,042
Less: imputed interest		(360	)
Total	$	1,682