Note 5 - Leases

9 Months Ended

Sep. 30, 2022

Notes to Financial Statements

Lessee, Operating Leases [Text Block]

Note 5 — Leases

Our leased assets primarily consist of office space. 

Operating lease right-of-use assets are as follows (in thousands):

	September 30,		December 31,
	2022		2021
Office leases	$	1,065	$	590
Total operating lease right-of-use assets, net	$	1,065	$	590

Operating lease liabilities are as follows (in thousands):

	September 30,		December 31,
	2022		2021
Office leases	$	968	$	596
Total current lease liabilities	$	968	$	596
Non-current office leases		143		—
Total lease liabilities	$	1,111	$	596

Operating lease expense is as follows (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Office leases	$	230	$	156	$	608	$	470
Total operating lease expense		230		156		608		470
Short-term lease expense		69		84		200		208
Total lease expense	$	299	$	240	$	808	$	678

Maturity of operating lease liabilities as of September 30, 2022 are as follows (in thousands, except lease term and discount rate):

2022 (remaining)	$	169
2023		1,027
2024		—
2025		—
2026		—
Thereafter		—
Total undiscounted lease payments		1,196
Discount to present value		(85	)
Present value of lease liabilities	$	1,111
Weighted average remaining lease term - years		1.3
Weighted average discount rate - percent		12.0

Other information related to our operating leases is as follows (in thousands):

 

	Nine Months Ended September 30,
	2022		2021
Cash paid for amounts included in the measurement of operating lease liabilities:
Cash flows from operating activities		$ 684		$ 509
Noncash right-of-use assets recorded for operating lease liabilities:
In exchange for new operating lease liabilities during the period		1,332		712