LEASES (Tables)

9 Months Ended

Sep. 30, 2024

Leases

SCHEDULE OF COMPONENTS OF LEASE EXPENSE

The components of lease expense are as follows:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(in thousands)	2024		2023		2024		2023
Operating lease expense	$	629	$	667	$	1,964	$	1,949
Finance lease expense:
Amortization of leased assets		-		6		-		19
Interest on lease liabilities		-		-		-		1
Total finance lease expense		-		6		-		20
Total lease expense	$	629	$	673	$	1,964	$	1,969

SCHEDULE OF CASH FLOW INFORMATION RELATED TO LEASES

Supplemental cash flow information related to leases is as follows:

	Nine Months Ended
	September 30,
(in thousands)	2024		2023
Cash paid for amounts included in measurement of lease liabilities:
Operating cash flows from operating leases	$	1,944		1,813
Operating cash flows from finance leases		-		1
Financing cash flows from finance leases		-		19

SCHEDULE OF BALANCE SHEET INFORMATION RELATED TO LEASES

Supplemental balance sheet information related to leases is as follows:

	September 30,			December 31,
(in thousands)	2024			2023
Operating leases
Operating lease right-of-use assets	$	12,090		$	13,758
Current portion of operating lease liabilities		2,149			2,323
Operating lease liabilities, net of current portion		11,662			12,714
Total operating lease liabilities	$	13,811		$	15,037
Finance leases
Property and equipment, at cost	$	112		$	112
Accumulated depreciation		(111	)		(97	)
Property and equipment, net	$	1		$	15
Weighted Average Remaining Lease Term
Operating leases		7.7 years			8.4 years
Weighted Average Discount Rate
Operating leases		4.6	%		4.6	%

SCHEDULE OF MATURITIES OF LEASE LIABILITIES

As of September 30, 2024, maturities of lease liabilities are as follows:

(in thousands)	Operating
Years Ended December 31,	leases
2024 (remainder of year)	$	547
2025		2,127
2026		2,003
2027		1,983
2028		1,954
Thereafter		7,719
Total minimum lease payments		16,333
Less: amount representing interest		(2,522	)
Present value of capital lease liabilities	$	13,811