LEASES (Tables)

3 Months Ended

Mar. 31, 2024

Leases [Abstract]

SCHEDULE OF COMPONENTS OF LEASE COST AND ACTIVITY

Operating lease costs are recorded on a straight-line basis within operating expenses. The Company’s total lease expense is comprised of the following:

	For the Three Months Ended March 31,
(in thousands)	2024		2023
Operating leases:
Operating lease cost	$	204	$	112
Operating lease expense	204		112
Short-term lease rent expense	16		9
Variable lease cost	23,186		2,773
Total rent expense	$	23,406	$	2,894

Additional information regarding the Company’s leasing activities is as follows:

	For the Three Months Ended March 31,
	2024			2023
Operating cash flows from operating leases	$	438		$	(2)
Weighted-average remaining lease term – operating leases	7.3			3.5
Weighted-average discount rate – operating leases	7		%	5		%

SCHEDULE OF FUTURE MINIMUM OPERATING LEASE PAYMENTS

The following table presents the Company’s future minimum operating lease payments as of March 31, 2024:

Year	Amount (in thousands)
2024 (remaining)	$	168
2025	203
2026	817
2027	2,563
2028	2,500
Thereafter	6,876
Total	13,127
Less: Imputed interest	(3,694)
Present value of lease liability	$	9,433