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Note 5 - Leases

6 Months Ended

Jun. 30, 2023

5.	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 and six months ended June 30, 2023 and 2022, are as follows:

	Three Months Ended June 30,						Six Months Ended June 30,
(in thousands)	2023			2022			2023			2022
Operating lease cost	$	483		$	493		$	1,026		$	997
Short-term lease cost		64			58			131			122
Sublease income		(26	)		(26	)		(51	)		(51	)
Total lease cost	$	521		$	525		$	1,106		$	1,068

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

	Six Months Ended June 30,
(in thousands)	2023		2022
Cash paid for amounts included in the measurement of lease liabilities:	$	1,201	$	1,173
Right-of-use assets obtained in exchange for lease obligations:	$	95	$	65

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

(in thousands)	June 30, 2023			December 31, 2022
Operating lease right-of-use assets	$	5,253		$	5,816

Current portion, operating lease liabilities	$	2,125		$	2,135
Operating lease liabilities, long-term		4,653			5,282
Total operating lease liabilities	$	6,778		$	7,417

Weighted average remaining lease term (years)		6.0			6.2
Weighted average discount rate		9.3	%		9.4	%

Future minimum lease payments for operating leases, with initial terms in excess of one year at June 30, 2023, are as follows:

Year Ending December 31,
(in thousands)
2023 (remainder of the year)	$	1,075
2024		1,831
2025		1,096
2026		1,047
2027		1,042
Thereafter		2,964
Total lease payments		9,055
Less imputed interest		(2,277	)
Total operating lease liabilities	$	6,778