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Note 14 - Leases | 12 Months Ended
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Dec. 31, 2023
Notes to Financial Statements |
Lessee, Operating Leases and Finance Leases [Text Block] | NOTE 14: LEASES The Company's lease portfolio is primarily comprised of operating leases for office space and finance leases for computer equipment. At the inception of an arrangement, the Company determines whether the arrangement is or contains a lease based on whether the contract conveys the right to control the use of identified property or equipment for a period of time in exchange for consideration. Leases are classified as operating or finance leases at the commencement date of the lease. Leases may include one or more options to renew. We do not assume renewals in our determination of the lease term unless the renewals are deemed to be reasonably assured at lease commencement. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. The following table summarizes the classification of operating and finance lease assets and obligations in the Company's Consolidated Balance Sheet as of December 31, 2023 and 2022:
|  |  | Year Ended
|  |  | December 31,
|  |  | 2023 |  |  | 2022
Assets |  |  |  |  |  |  |  |
Operating lease assets | Operating lease right-of-use assets |  | $ | 1,041 |  |  | $ | 1,584
Finance lease assets | Property and equipment, net |  |  | 146 |  |  |  | -
Total leased assets |  | $ | 1,187 |  |  | $ | 1,584
Liabilities |  |  |  |  |  |  |  |
Short-term: |  |  |  |  |  |  |  |
Operating lease obligation | Current maturities of operating leases |  | $ | 505 |  |  | $ | 711
Finance lease obligation | Accrued expenses and other current liabilities |  |  | 42 |  |  |  | -
Long-term |  |  |  |  |  |  |  |
Operating lease obligation | Long-term obligations under operating leases |  |  | 536 |  |  |  | 873
Finance lease obligation | Other non-current liabilities |  |  | 104 |  |  |  | -
Total lease obligations |  | $ | 1,187 |  |  | $ | 1,584
The following table summarizes the classification of lease expense in the Company's Consolidated Statements of Operations for the years ended December 31, 2023 and 2022:
|  | Year Ended
|  | December 31,
|  | 2023 |  |  | 2022
Operating lease expense: |  |  |  |  |  |  |
Operating lease expense |  | $ | 753 |  |  | $ | 579
Finance lease expense: |  |  |  |  |  |  |
Amortization of right-of-use assets |  |  | 23 |  |  |  | -
Interest on lease obligations |  |  | 5 |  |  |  | -
Total lease expense |  | $ | 781 |  |  | $ | 579
The following table provides lease term and discount rate information related to operating leases as of December 31, 2023:
|  | Year Ended |
|  | December 31, |
|  | 2023 |
Weighted average remaining lease term (years) |  |  |  |
Operating leases |  |  | 2.6 |
Finance leases |  |  | 3.4 |
Weighted average discount rate |  |  |  |
Operating leases |  |  | 10.0 | %
Finance leases |  |  | 5.7 | %
The following table sets forth the scheduled maturities of lease obligations as of December 31, 2023:
|  | Operating |  |  | Finance |  |  | Total |
|  | Leases |  |  | Leases |  |  | Leases |
2024 |  | $ | 536 |  |  | $ | 49 |  |  | $ | 585 |
2025 |  |  | 451 |  |  |  | 48 |  |  |  | 499 |
2026 |  |  | 111 |  |  |  | 44 |  |  |  | 155 |
2027 |  |  | 105 |  |  |  | 19 |  |  |  | 124 |
Total undiscounted cash flows |  | $ | 1,203 |  |  | $ | 160 |  |  | $ | 1,363 |
Less imputed interest |  |  | (162 | ) |  |  | (14 | ) |  |  | (176 | )
Present value of lease liabilities |  | $ | 1,041 |  |  | $ | 146 |  |  | $ | 1,187 |
The following table provides supplemental information related to the Company's Consolidated Statements of Cash Flows for the years ended December 31, 2023 and 2022:
|  | Year Ended |  |  | Year Ended |
|  | December 31, |  |  | December 31, |
|  | 2023 |  |  | 2022 |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |  |
Operating cash flows paid for operating leases |  | $ | 753 |  |  | $ | 597 |
Operating cash flows paid for finance leases |  | $ | 5 |  |  | $ | - |
Financing cash flows paid for finance leases |  | $ | 23 |  |  | $ | - |
Right-of-use assets obtained in exchange for new finance lease liabilities |  | $ | 169 |  |  | $ | - |

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