Leases (Tables)

6 Months Ended

Jun. 30, 2024

Leases [Abstract]

Schedule of Lease Term and Discount Rate

This office replaced the New Jersey office as one of the Company’s key operating centers and the total commitment of the lease is approximately $2.1 million.

Lease Term and Discount Rate	As of June 30, 2024			As of December 31, 2023
Weighted average remaining lease term – operating leases (in years)		3.6			3.9
Weighted average discount rate – operating leases		7.1	%		6.9	%

Schedule of Operating Lease Cost

	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Operating lease cost	$	251,000	$	304,000	$	534,000	$	609,000
Short-term lease cost		61,000		136,000		221,000		279,000
Variable lease cost		66,000		51,000		120,000		81,000
Total Rent and occupancy	$	378,000	$	491,000	$	875,000	$	969,000
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	267,000	$	328,000	$	536,000	$	654,000

Schedule of Future Annual Minimum Payments

Future annual minimum payments for operating leases with initial terms of greater than one year as of June 30, 2024 were as follows:

Year	Amount
2024	$	402,000
2025		861,000
2026		694,000
2027		520,000
2028		443,000
Remaining balance of lease payments		2,920,000
Less: difference between undiscounted cash flows and discounted cash flows		375,000
Lease liabilities	$	2,545,000