Note 6 - Leases

6 Months Ended

Jun. 30, 2023

Notes to Financial Statements

Lessee, Operating Leases [Text Block]

Note 6 — Leases

Our leased assets consist of office space. 

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

	June 30,		December 31,
	2023		2022
Office leases	$	951	$	1,474
Total operating lease right-of-use assets, net	$	951	$	1,474

Operating lease liabilities are as follows (in thousands):

	June 30,		December 31,
	2023		2022
Office leases	$	634	$	1,093
Total current lease liabilities	$	634	$	1,093
Non-current office leases		331		465
Total lease liabilities	$	965	$	1,558

Operating lease expense is as follows (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Office leases	$	300	$	221	$	609	$	378
Total operating lease expense		300		221		609		378
Short-term lease expense		25		69		53		131
Total lease expense	$	325	$	290	$	662	$	509

Maturity of operating lease liabilities as of June 30, 2023 are as follows (in thousands, except lease term and discount rate):

2023 (remaining)	$	652
2024		270
2025		248
2026		—
2027		—
Thereafter		—
Total undiscounted lease payments		1,170
Discount to present value		(205	)
Present value of lease liabilities	$	965
Weighted average remaining lease term - years		1.9
Weighted average discount rate - percent		12.0

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

	Six Months Ended June 30,
	2023		2022
Cash paid for amounts included in the measurement of operating lease liabilities:
Cash flows from operating activities	$	593	$	288
Noncash right-of-use assets recorded for operating lease liabilities:
In exchange for new operating lease liabilities during the period		—		1,332