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Note 7 - Leases | 9 Months Ended
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Sep. 30, 2024
Notes to Financial Statements |
Lessee, Operating Leases [Text Block] |
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 and nine months ended September 30, 2024 and 2023, were as follows:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
(in thousands) |  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Operating lease cost |  | $ | 520 |  |  | $ | 491 |  |  | $ | 1,539 |  |  | $ | 1,517 |
Short-term lease cost |  |  | 46 |  |  |  | 19 |  |  |  | 148 |  |  |  | 150 |
Sublease income |  |  | (17 | ) |  |  | (25 | ) |  |  | (68 | ) |  |  | (76 | )
Total lease cost |  | $ | 549 |  |  | $ | 485 |  |  | $ | 1,619 |  |  | $ | 1,591 |
Supplemental cash flow information related to the Company's operating leases is as follows:
|  | Nine Months Ended September 30, |
(in thousands) |  | 2024 |  |  | 2023 |
Cash paid for amounts included in the measurement of lease liabilities |  | $ | 1,745 |  |  | $ | 1,764 |
Right-of-use assets obtained in exchange for lease obligations |  |  | 2,945 |  |  |  | 277 |
Supplemental balance sheet information related to the Company’s operating leases is as follows:
|  | September 30, |  |  | December 31, |
(in thousands) |  | 2024 |  |  | 2023 |
Operating lease right-of-use assets |  | $ | 6,523 |  |  | $ | 4,773 |
Current portion, operating lease liabilities |  | $ | 1,127 |  |  | $ | 1,416 |
Operating lease liabilities, long-term |  |  | 6,706 |  |  |  | 4,794 |
Total operating lease liabilities |  | $ | 7,833 |  |  | $ | 6,210 |
Weighted average remaining lease term (years) |  |  | 5 |  |  |  |  |
Weighted average discount rate |  |  | 8.9 | % |  |  |  |
Future minimum lease payments for operating leases, with initial terms in excess of one year at September 30, 2024, are as follows:
(in thousands) |  |  |  |
2024 (remainder of the year) |  | $ | 425 |
2025 |  |  | 1,808 |
2026 |  |  | 1,812 |
2027 |  |  | 1,785 |
2028 |  |  | 1,774 |
Thereafter |  |  | 2,408 |
Total lease payments |  |  | 10,012 |
Less imputed interest |  |  | (2,179 | )
Total operating lease liabilities |  | $ | 7,833 |

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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