LEASES

3 Months Ended

Mar. 31, 2024

Leases

LEASES

7. LEASES

The table below presents the lease-related assets and liabilities recorded in the Condensed Consolidated Balance Sheet:

	Classification on the Balance Sheet	March 31, 2024		December 31, 2023
Assets
Operating lease assets	Operating lease right of use assets		1,756		1,864
Total lease assets		$	1,756	$	1,864
Liabilities
Current
Operating lease liabilities	Other accrued expenses		375		377
Total current lease liabilities		$	375	$	377
Noncurrent
Operating lease liabilities	Operating lease liabilities, net of current portion		1,359		1,472
Total long-term lease liabilities			1,359		1,472
Total lease liabilities		$	1,734	$	1,849

The weighted average remaining lease term for the Company’s operating leases was 4.1 years as of March 31, 2024 and the weighted average discount rate for those leases was 11.9%. The Company’s operating lease expenses are recorded within “Cost of revenue” and “General and administrative expenses.”

The table below reconciles the cash flows to the lease liabilities recorded on the Company’s Condensed Consolidated Balance Sheet as of March 31, 2024:

	Operating Leases
2024 - remaining nine months	$	446
2025		450
2026		500
2027		550
2028		275
Total minimum lease payments		2,221
Less: amount of lease payments representing effects of discounting		487
Present value of future minimum lease payments		1,734
Less: current obligations under leases		375
Long-term lease obligations	$	1,359