Leases (Tables)

9 Months Ended

Sep. 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 September 30, 2024			As of December 31, 2023
Weighted average remaining lease term – operating leases (in years)		3.4			3.9
Weighted average discount rate – operating leases		7.1	%		6.9	%

Schedule of Operating Lease Cost

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Operating lease cost	$	236,000	$	356,000	$	771,000	$	965,000
Short-term lease cost		75,000		67,000		296,000		346,000
Variable lease cost		54,000		44,000		173,000		125,000
Total Rent and occupancy	$	365,000	$	467,000	$	1,240,000	$	1,436,000
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	218,000	$	315,000	$	755,000	$	969,000
Lease right-of-use assets obtained in exchange for new lease liabilities
Operating leases	$	78,000	$	1,693,000	$	78,000	$	1,693,000

Schedule of Future Annual Minimum Payments

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

Year	Amount
2024	$	209,000
2025		909,000
2026		694,000
2027		520,000
2028		443,000
Remaining balance of lease payments		2,775,000
Less: difference between undiscounted cash flows and discounted cash flows		334,000
Lease liabilities	$	2,441,000