Annual report pursuant to Section 13 and 15(d)

Leases (Tables)

v3.24.1
Leases (Tables)
 12 Months Ended
Dec. 31, 2023
Leases [Abstract]  
Schedule of Lease Cost
The table below presents certain information related to the lease costs for the Company’s operating leases for the periods indicated (amount in thousands):
Year Ended December 31,
2023 2022
Operating lease expense $ 1,663  $ 1,856 
Short-term lease expense 701  550 
Total lease cost $ 2,364  $ 2,406 
Schedule of Balance Sheet Location
Right of use lease assets and lease liabilities for our operating leases were recorded in the consolidated balance sheet as follows (amount in thousands):
December 31,
2023 2022
Assets
Lease right of use assets $ 4,150  $ 7,363 
Total lease assets $ 4,150  $ 7,363 
Liabilities
Current liabilities:
Lease liability - current portion $ 1,504  $ 1,609 
Noncurrent liabilities:
Lease liability, net of current portion 3,824  5,241 
Total lease liability $ 5,328  $ 6,850 
Schedule of Weighted Average Remaining Lease Term and Discount Rate
The table below presents certain information related to the weighted average remaining lease term and the weighted average discount rate for the Company’s operating leases as of:
December 31,
2023 2022
Weighted average remaining lease term (in years) - operating leases 3.9 4.7
Weighted average discount rate - operating leases 6.33  % 6.19  %
Schedule of Future Lease Payments
Future lease payments included in the measurement of lease liabilities on the consolidated balance sheet as of December 31, 2023, for the following five fiscal years and thereafter were as follows (amount in thousands):
Years Ended December 31, Operating Leases
2024 $ 1,785 
2025 1,479 
2026 1,066 
2027 969 
2028 709 
2028 and thereafter — 
Total Minimum Lease Payments 6,008 
Less effects of discounting (680)
Present value of future minimum lease payments $ 5,328