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Note 8 - Leases

12 Months Ended

Dec. 31, 2023

8.	Leases

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

The components of lease expense for the years ended December 31, 2023 and 2022, are as follows:

	Year Ended December 31,
(in thousands)	2023			2022
Operating lease cost	$	2,013		$	1,971
Short-term lease cost		199			233
Sublease income		(102	)		(102	)
Total lease cost	$	2,110		$	2,102

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

(in thousands)	December 31,
	2023			2022
Operating lease right-of-use assets	$	4,773		$	5,816

Current portion, operating lease liabilities		1,416			2,135
Operating lease liabilities, long-term		4,794			5,282
Total operating lease liabilities	$	6,210		$	7,417

Weighted average remaining lease term (years)		5.7			6.2
Weighted average discount rate		9.5	%		9.4	%

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

	Year Ended December 31,
(in thousands)	2023		2022
Cash paid for amounts included in the measurement of lease liabilities	$	2,367	$	2,347
Right-of-use assets obtained in exchange for lease obligations		293		295

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

Year Ending December 31,
(in thousands)
2024		1,938
2025		1,166
2026		1,060
2027		1,047
2028		1,057
Thereafter		1,926
Total lease payments		8,194
Less imputed interest		(1,984	)
Total operating lease liabilities	$	6,210