Annual report pursuant to Section 13 and 15(d)

LEASES (Tables)

v3.24.0.1
LEASES (Tables)
12 Months Ended
Dec. 31, 2023
Leases [Abstract]  
Schedule of components of lease expense
The components of lease expense for the years ended December 31, 2023 and 2022 were as follows (in thousands):

Year ended December 31,
2023 2022
Operating lease expense $ 1,838  $ 1,160 
Finance lease expense:
  Amortization of right-of-use assets $ 606  $ 169 
  Interest on lease liabilities 244  47 
    Total finance lease expense $ 850  $ 216 
Schedule of weighted average remaining lease terms and discount rates
The weighted average remaining lease terms and weighted average discount rates for the Company's operating leases and finance leases at December 31, 2023 and 2022 were as follows:

Year ended December 31,
2023 2022
Weighted average remaining lease term (years):
  Operating leases 9.83 6.30
  Finance leases 3.29 3.70
Weighted average discount rate:
  Operating leases 11.0  % 8.1  %
  Finance leases 11.0  % 8.7  %
Schedule of minimum lease payments due
Future minimum lease payments as of December 31, 2023 under all non-cancelable leases having an initial or remaining term of more than one year were as follows (in thousands):

Year ending December 31, Operating
leases
Finance
leases
  2024 $ 1,945  $ 1,210 
  2025 1,987  1,209 
  2026 1,958  926 
  2027 1,813  359 
  2028 1,757  105 
  Thereafter 2,229  — 
Total lease payments 11,689  3,809 
Less: imputed interest (1,289) (459)
Present value of lease liabilities $ 10,400  $ 3,350 
Schedule of minimum lease payments due
Future minimum lease payments as of December 31, 2023 under all non-cancelable leases having an initial or remaining term of more than one year were as follows (in thousands):

Year ending December 31, Operating
leases
Finance
leases
  2024 $ 1,945  $ 1,210 
  2025 1,987  1,209 
  2026 1,958  926 
  2027 1,813  359 
  2028 1,757  105 
  Thereafter 2,229  — 
Total lease payments 11,689  3,809 
Less: imputed interest (1,289) (459)
Present value of lease liabilities $ 10,400  $ 3,350