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Note 6 - Leases

3 Months Ended

Mar. 31, 2023

6.	Leases

The Company has noncancelable operating leases for offices, manufacturing facilities, warehouse space, automobiles and equipment expiring at various dates through 2030.

The components of lease expense for the three months ended March 31, 2023 and 2022, are as follows:

	Three Months Ended March 31,
(in thousands)	2023			2022
Operating lease cost	$	543		$	504
Short-term lease cost		67			64
Sublease income		(25	)		(25	)
Total lease cost	$	585		$	543

Supplemental cash flow information related to the Company's operating leases was as follows:

	Three Months Ended March 31,
(in thousands)	2023		2022
Cash paid for amounts included in the measurement of lease liabilities:	$	653	$	594
Right-of-use assets obtained in exchange for lease obligations:	$	-	$	39

Supplemental balance sheet information related to the Company’s operating leases are as follows:

	March 31,			December 31,
(in thousands)	2023			2022
Operating lease right-of-use assets	$	5,505		$	5,816

Current portion, operating lease liabilities	$	2,130		$	2,135
Operating lease liabilities, long-term		4,938			5,282
Total operating lease liabilities	$	7,068		$	7,417

Weighted average remaining lease term (years)		6.1			6.2
Weighted average discount rate		9.4	%		9.4	%

Future minimum lease payments for operating leases, with initial terms in excess of one year at March 31, 2023, are as follows:

Year Ending December 31,
(in thousands)
2023 (remainder of the year)	$	1,605
2024		1,803
2025		1,065
2026		1,022
2027		1,035
Thereafter		2,965
Total lease payments		9,495
Less imputed interest		(2,427	)
Total operating lease liabilities	$	7,068