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Note 9 - Leases | 12 Months Ended
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Dec. 31, 2024
Notes to Financial Statements |
Lessee, Operating Leases [Text Block] |
9. | Leases
The Company has non-cancelable 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, 2024 and 2023, were as follows:
|  | Year Ended December 31, |
(in thousands) |  | 2024 |  |  | 2023 |
Operating lease cost |  | $ | 2,049 |  |  | $ | 2,013 |
Short-term lease cost |  |  | 191 |  |  |  | 199 |
Sublease income |  |  | (68 | ) |  |  | (102 | )
Total lease cost |  | $ | 2,172 |  |  | $ | 2,110 |
Supplemental balance sheet information related to the Company’s operating leases is as follows:
| December 31,
(in thousands) | 2024 |  | 2023
Operating lease right-of-use assets | $ | 6,132 |  | $ | 4,773
Current portion, operating lease liabilities | $ | 1,158 |  | $ | 1,416
Operating lease liabilities, long-term |  | 6,381 |  |  | 4,794
Total operating lease liabilities | $ | 7,539 |  | $ | 6,210
Weighted average remaining lease term (years) |  | 5.2 |  |  | 5.7
Weighted average discount rate |  | 8.9% |  |  | 9.5%
Supplemental cash flow information related to the Company’s operating leases is as follows:
|  | Year Ended December 31, |
(in thousands) |  | 2024 |  |  | 2023 |
Cash paid for amounts included in the measurement of lease liabilities |  | $ | 2,186 |  |  | $ | 2,367 |
Right-of-use assets obtained in exchange for lease obligations |  |  | 2,945 |  |  |  | 293 |
Future minimum lease payments for operating leases, with initial terms in excess of one year at December 31, 2024, are as follows:
Year Ending December 31, |  |  |  |
(in thousands) |  |  |  |
2025 |  | $ | 1,783 |
2026 |  |  | 1,802 |
2027 |  |  | 1,779 |
2028 |  |  | 1,770 |
2029 |  |  | 1,575 |
Thereafter |  |  | 833 |
Total lease payments |  |  | 9,542 |
Less imputed interest |  |  | (2,003 | )
Total operating lease liabilities |  | $ | 7,539 |

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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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