Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

v3.24.2.u1
LEASES (Tables)
6 Months Ended
Jun. 30, 2024
Leases [Abstract]  
Schedule of Lease Cost
The components of lease expense for the three and six months ended June 30, 2024 and 2023 were as follows (in thousands):

Three months ended Six months ended
June 30,
2024
June 30,
2023
June 30,
2024
June 30,
2023
Operating lease expense $ 520  $ 515  $ 1,037  $ 814 
Finance lease expenses:
Amortization of right of use assets $ 197  $ 160  $ 393  $ 214 
Interest on lease liabilities 76  70  158  85 
Total finance lease expense $ 273  $ 230  $ 551  $ 299 
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 June 30, 2024 and December 31, 2023 were as follows:
June 30,
2024
December 31,
2023
Weighted average remaining lease term (years):
  Operating leases 9.55 9.83
  Finance leases 3.48 3.29
Weighted average discount rate:
  Operating leases 11.0  % 11.0  %
  Finance leases 9.5  % 11.0  %
Schedule of Future Minimum Lease Payments
Future minimum lease payments as of June 30, 2024 under all non-cancelable leases having an initial or remaining term of more than one year were (in thousands):
Operating
leases
Finance
leases
Remainder of 2024 $ 977  $ 767 
2025 1,988  1,534 
2026 1,915  1,252 
2027 1,813  683 
2028 1,757  269 
Thereafter 2,230  429 
Total lease payments 10,680  4,934 
Less: imputed interest (712) (735)
$ 9,968  $ 4,199 
Schedule of Future Minimum Lease Payments
Future minimum lease payments as of June 30, 2024 under all non-cancelable leases having an initial or remaining term of more than one year were (in thousands):
Operating
leases
Finance
leases
Remainder of 2024 $ 977  $ 767 
2025 1,988  1,534 
2026 1,915  1,252 
2027 1,813  683 
2028 1,757  269 
Thereafter 2,230  429 
Total lease payments 10,680  4,934 
Less: imputed interest (712) (735)
$ 9,968  $ 4,199