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Note 10 - Leases

9 Months Ended

Sep. 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*				*Nine Months Ended*
		*September 30,*				*September 30,*
Lease Costs	*Classification*	*2024*		*2023*		*2024*		*2023*
Operating lease cost	Selling, General and Administrative Expense	$	147	$	71	$	415	$	212
Short-term lease cost	Selling, General and Administrative Expense		22		19		277		130
Variable costs	Selling, General and Administrative Expense		-		13		-		44
Total lease cost		$	169	$	103	$	692	$	386

⁽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*				*Nine Months Ended*
	*September 30,*				*September 30,*
	*2024*		*2023*		*2024*		*2023*

Operating cash flows from operating leases	$	105	$	233	$	415	$	489

Right-of-use assets obtained in exchange for lease obligations
Operating lease	$	-	$	386	$	-	$	1,497

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

	September 30, 2024			December 31, 2023
Assets:
Operating lease right-of-use assets	$	838		$	2,323
Liabilities:
Current portion of operating lease liabilities		508			1,163
Non-current portion of operating lease liabilities		330			1,160
Total operating lease liabilities	$	838		$	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 September 30, 2024 (in thousands):

Period Ending December 31,	Amount
2024	$	134
2025		438
2026		144
2027		114
2028		73
Total Lease Payments		903
Less: imputed interest		(65	)
Total	$	838