Lease contracts

9 Months Ended

Sep. 30, 2024

Lessee Disclosure [Abstract]

Lease contracts

Note 5: Lease contracts

Future minimum lease payments under the Company’s operating leases’ right of use as of September 30, 2024 and December 31, 2023, are as follows:

	September 30, 2024					December 31, 2023
	Real Estate		Other assets		Total	Real Estate		Other assets		Total
Current portion	450		32		482	1,205		79		1,284
Year 2	1,480		7		1,487	65		11		75
Year 3	1,295		7		1,302	421		—		421
Thereafter	5,794		10		5,804	5,515		—		5,515
Total minimum lease payments	9,019		56		9,075	7,205		90		7,295
Less: Effects of discounting	(1,652)		(11)		(1,664)	(1,617)		(9)		(1,626)
Present value of lease liabilities	7,367		45		7,412	5,588		82		5,670
Less: current portion	(350)		(24)		(374)	(1,072)		(72)		(1,144)
Long-term lease liabilities	7,017		21		7,038	4,516		10		4,526
Weighted average remaining lease term (years)	7.72		0.02			7.54		0.00
Weighted average discount rate	5.12	%	0.03	%		4.53	%	2.50	%

The increase in $1.7 million in lease obligations results from the US headquarter lease.

The Company recognizes rent expense, calculated as the remaining cost of the lease allocated over the remaining lease term on a straight-line basis. Rent expense presented in the consolidated statement of operations and comprehensive loss was:

	September 30,
	2024	2023
Operating lease expense / (income)	1,568	1,223
Net termination impact	(46)	(92)
Net restructuring impact	—	—

Supplemental cash flow information related to operating leases is as follows for the period September 30, 2024 and 2023:

	September 30,
	2024	2023
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows used in operating leases	1,141	1,410