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Note 10 - Leases

6 Months Ended

Jun. 30, 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				Six Months Ended
		June 30,				June 30,
Lease Costs	Classification	2024		2023		2024		2023
Operating lease cost	Selling, General and Administrative Expense	$ 93		$ 71		$ 269		$ 141
Short-term lease cost	Selling, General and Administrative Expense	128		35		299		111
Variable costs	Selling, General and Administrative Expense	-		15		-		31
Total lease cost			$ 221		$ 121		$ 568		$ 283

⁽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				Six Months Ended
	June 30,				June 30,
	2024		2023		2024		2023

Operating cash flows from operating leases	$	134	$	106	$	310	$	256

Right-of-use assets obtained in exchange for lease obligations
Operating lease	$	-	$	808	$	-	$	1,111

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

	June 30, 2024			December 31, 2023
Assets:
Operating lease right-of-use assets	$	1,154		$	2,323
Liabilities:
Current portion of operating lease liabilities		482			1,163
Non-current portion of operating lease liabilities		672			1,160
Total operating lease liabilities	$	1,154		$	2,323

Weighted-average remaining lease term - operating leases (in years)		3.56			2.64
Weighted-average discount rate - operating leases		7.6	%		8.8	%

The following table summarizes the maturities of lease liabilities as of June 30, 2024 (in thousands):

Period Ending December 31,	Amount
2024	$	676
2025		240
2026		168
2027		145
2028		43
Thereafter		-
Total Lease Payments		1,272
Less: imputed interest		118
Total	$	1,154