Leases

3 Months Ended

Mar. 31, 2024

Leases

Leases

Note 6 — Leases

During the three months ended March 31, 2024, the Company entered into additional lease agreements that have commenced and are classified as operating leases.

The Company’s future lease payments as of March 31, 2024, which are presented as operating lease liabilities, current portion and operating lease liabilities, less current portion on the Company’s unaudited condensed consolidated balance sheets are as follows:

2024 (remainder of year)	$	1,374
2025		841
2026		794
2027		624
2028		472
Thereafter		848
Total lease payments	$	4,953
Less: imputed interest		(806	)
Present value of lease liabilities	$	4,147

Note 6 — Leases - continued

Supplemental disclosure of cash flow information related to the Company’s cash and non-cash activities with its leases are as follows:

	Three Months Ended March 31,
	2024			2023
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	476		$	346
Non-cash investing and financing activities
Right-of-use assets obtained in exchange for new operating lease liabilities	$	22		$	2,473
Weighted-average remaining lease term - operating leases (in years)		4.60			4.84
Weighted-average discount rate - operating leases		7.875	%		7.875	%

As of March 31, 2024 and December 31, 2023, the Company’s right-of-use assets from operating leases were $3,886 and $4,267, respectively, which are reported in operating lease right-of-use assets in the unaudited condensed consolidated balance sheets. As of March 31, 2024 and December 31, 2023, the Company had outstanding operating lease obligations of $4,147 and $4,525, respectively, of which $1,333 and $1,565, respectively, are reported in operating lease liabilities, current portion and $2,814 and $2,960, respectively, are reported in operating lease liabilities less current portion in the Company’s unaudited condensed consolidated balance sheets. The Company calculates its incremental borrowing rates for specific lease terms, used to discount future lease payments, as a function of the financing terms the Company would likely receive on the open market.