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Note 9 - Leases

12 Months Ended

Dec. 31, 2024

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