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Note 14 - Leases

12 Months Ended

Dec. 31, 2023

14. Leases

The Company is a lessee under certain operating leases for office space and equipment.

The components of lease expenses consisted of the following for the periods presented (in thousands):

		*Year Ended*		*Year Ended*
Lease Costs	*Classification*	*December 31, 2023*		*December 31, 2022*
Operating lease cost	Selling, General and Administrative Expense	$	875	$	470
Short-term lease cost	Selling, General and Administrative Expense		378		502
Variable costs (1)	Selling, General and Administrative Expense		-		20
Total lease cost		$	1,253	$	992

( 1) Variable lease costs consist primarily of property taxes, property insurance, and common area or other maintenance costs for the Company’s leases of office space.

The following includes supplemental information for the periods presented (in thousands).

	*Year Ended*		*Year Ended*
	*December 31, 2023*		*December 31, 2022*
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	875	$	997

Right-of-use assets obtained in exchange for lease obligations
Operating leases	$	2,229	$	-

Balance sheet information related to leases consisted of the following as of the periods presented (in thousands):

Leases	*December 31, 2023*			*December 31, 2022*
Assets:
Operating lease right-of-use assets	$	2,323		$	969
Liabilities:
Current portion of operating lease liabilities		1,163			363
Non-current portion of operating lease liabilities		1,160			606
Total operating lease liabilities	$	2,323		$	969

Weighted average remaining lease term - operating leases (in years)		2.64			2.04
Weighted average discount rate - operating leases		8.8	%		6.4	%

The following table summarizes the maturities of lease liabilities as of December 31, 2023 (in thousands):

For the Year Ended December 31,	*Amount*
2024	$	1,315
2025		838
2026		188
2027		155
2028		112
Thereafter	5
Total future operating lease liability	$2,613
Less: present value discount	290
Present value of operating lease liabilities	$2,323