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Leases
12 Months Ended
Dec. 31, 2023
Leases [Abstract]  
Leases

NOTE 15—Leases

The Company maintains leased offices in the United States of America, United Kingdom, India, Belgium and France.

The balance for Right-to-use asset and lease liabilities are as follows:

 

Operating Leases

 

As on December 31, 2023

 

 

As on December 31, 2022

 

Right-to-use asset, net

 

$

6,603

 

 

$

7,388

 

Current liabilities

 

$

1,789

 

 

$

2,137

 

Non-Current liabilities

 

$

6,602

 

 

$

7,877

 

 

Supplemental information related to operating leases is as follows:

Particulars

 

During the year ended December 31, 2023

 

Long term Operating lease cost

 

$

2,476

 

Other Short-term lease cost

 

$

256

 

Cash paid for amounts included in the measurement of lease liabilities

 

$

2,811

 

Right-to-use assets obtained in exchange for new operating lease liabilities

 

$

165

 

Weighted-average remaining lease term (years) — operating leases

 

 

2.4

 

Weighted-average discount rate — operating leases

 

 

6.5

%

 

Minimum lease obligations - Future minimum payments under all operating leases (including leases with a duration of one year or less) as of December 31, 2023 are as follows:

2024

 

$

2,660

 

2025

 

 

2,028

 

2026

 

 

1,843

 

2027

 

 

1,660

 

2028 and thereafter

 

 

1,865

 

Total undiscounted lease commitments

 

$

10,056

 

Less: Short term leases and interest component

 

 

(1,665

)

Total discounted operating lease liabilities

 

$

8,391