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Note 7 - Leases

3 Months Ended

Mar. 31, 2025

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, 2025 and 2024, were as follows:

	Three Months Ended March 31,
(in thousands)	2025		2024
Operating lease cost	$	521	$	511
Short-term lease cost		44		50
Sublease income		-		(25	)
Total lease cost	$	565	$	536

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

	Three Months Ended March 31,
(in thousands)	2025		2024
Cash paid for amounts included in the measurement of lease liabilities	$	596	$	597
Right-of-use assets obtained in exchange for lease obligations		1,442		-

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

	March 31,			December 31,
(in thousands)	2025			2024
Operating lease right-of-use assets	$	7,283		$	6,132

Current portion, operating lease liabilities	$	1,419		$	1,158
Operating lease liabilities, long-term		7,230			6,381
Total operating lease liabilities	$	8,649		$	7,539

Weighted average remaining lease term (years)		4.9			5.2
Weighted average discount rate		8.1	%		8.9	%

Future minimum lease payments for operating leases, with initial terms in excess of one year at March 31, 2025, are as follows:

Year Ending December 31,
(in thousands)
2025 (remainder of the year)	$	1,538
2026		2,178
2027		2,165
2028		2,106
2029		1,797
Thereafter		844
Total lease payments		10,628
Less imputed interest		(1,979	)
Total operating lease liabilities	$	8,649