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Note 7 - Leases

3 Months Ended

Mar. 31, 2024

7.	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, 2024 and 2023, were as follows:

	Three Months Ended March 31,
(in thousands)	2024			2023
Operating lease cost	$	511		$	543
Short-term lease cost		50			67
Sublease income		(25	)		(25	)
Total lease cost	$	536		$	585

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

	Three Months Ended March 31,
(in thousands)	2024		2023
Cash paid for amounts included in the measurement of lease liabilities	$	597	$	653

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

	March 31,			December 31,
(in thousands)	2024			2023
Operating lease right-of-use assets	$	4,359		$	4,773

Current portion, operating lease liabilities	$	1,197		$	1,416
Operating lease liabilities, long-term		4,557			4,794
Total operating lease liabilities	$	5,754		$	6,210

Weighted average remaining lease term (years)		6
Weighted average discount rate		9.5	%

Future minimum lease payments for operating leases, with initial terms in excess of one year at March 31, 2024, are as follows:

(in thousands)
2024 (remainder of the year)	$	1,377
2025		1,172
2026		1,069
2027		1,057
2028		1,057
Thereafter		1,867
Total lease payments		7,599
Less imputed interest		(1,845	)
Total operating lease liabilities	$	5,754