LEASES (Tables)

12 Months Ended

Dec. 31, 2023

Leases

SCHEDULE OF COMPONENTS OF LEASE EXPENSE

The components of lease expense were as follows:

	Year Ended December 31,
(in thousands)	2023		2022		2021
Operating lease expense	$	2,625	$	1,501	$	513
Finance lease expense:
Amortization of leased assets		21		26		30
Interest on lease liabilities		-		2		3
Total finance lease expense		21		28		33
Total lease expense	$	2,646	$	1,529	$	546

SCHEDULE OF CASH FLOW INFORMATION RELATED TO LEASES

Supplemental cash flow information related to leases was as follows:

	Year Ended December 31,
(in thousands)	2023		2022		2021
Cash paid for amounts included in measurement of lease liabilities:
Operating cash flows from operating leases	$	2,500	$	1,280	$	762
Operating cash flows from finance leases		-		2		3
Financing cash flows from finance leases		21		26		28
Right-of-use assets obtained in exchange for new lease obligations:
Operating leases	$	1,338	$	10,184	$	5,322

SCHEDULE OF BALANCE SHEET INFORMATION RELATED TO LEASES

Supplemental balance sheet information related to leases was as follows:

	December 31,
(in thousands)	2023			2022
Operating leases
Operating lease right-of-use assets	$	13,758		$	14,579
Current portion of operating lease liability		2,323			1,846
Operating lease liability, net of current portion		12,714			13,829
Total operating lease liabilities	$	15,037		$	15,675
Finance leases
Property and equipment, at cost	$	112		$	112
Accumulated depreciation		(97	)		(80	)
Property and equipment, net	$	15		$	32
Current portion of finance lease obligations	$	-		$	21
Finance lease obligations, net of current portion		-			-
Total finance lease liabilities	$	-		$	21
Weighted Average Remaining Lease Term
Operating leases		8.4 years			13.1 years
Finance leases		-			0.5 years
Weighted Average Discount Rate
Operating leases		4.6	%		9.0	%
Finance leases		0.0	%		6.3	%

SCHEDULE OF MATURITIES OF LEASE LIABILITIES

As of December 31, 2023, maturities of lease liabilities were as follows:

(in thousands)	Operating			Finance
Years Ended December 31,	leases			leases
2024		2,373			-
2025		2,019			-
2026		2,032			-
2027		1,971			-
Thereafter		9,663			-
Total minimum lease payments		18,058			-
Less: amount representing interest		(3,021	)		-
Present value of lease liabilities	$	15,037		$	-