LEASES

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

LEASES

LEASES

The following presents supplemental information related to leases in which the Company is the lessee for the years ended December 31 (in thousands):

	2023		2022
Cash paid for amounts included in lease liabilities
Operating cash flows from operating leases	$	913	$	850
Operating cash flows from finance leases	1,250		1,201
ROU assets obtained in exchange for lease obligations
Operating leases	—		—
Finance leases	200		3,096
Lease Cost
Operating leases	1,041		1,114
Finance leases	1,104		673
Short-term leases	$	77	$	82

For the Company’s operating leases, the weighted average remaining lease term is 1.6 years with a weighted average discount rate of 7.1%. For the Company’s finance leases, the weighted average remaining lease term is 1.6 years with a weighted average discount rate of 6.6%.

The following presents maturities of operating lease liabilities in which the Company is the lessee as of December 31, 2023 (in thousands):

	2023
2024	$	1,055
2025	583
2026	—
2027	—
2028	—
Thereafter	—
Total operating lease payments	1,638
Less imputed interest	(91)
	$	1,547

The following presents maturities of finance lease liabilities in which the Company is the lessee as of December 31, 2023 (in thousands):

	2023
2024	$	784
2025	86
2026	30
2027	—
2028	—
Thereafter	—
Total finance lease payments	900
Less imputed interest	(55)
	$	845

The net investment in sales-type leases, where the Company is the lessor, is a component of other current assets and other non-current assets in the consolidated balance sheets. As of December 31, 2023, the total net investment in these leases is $2.4 million. Lease income is a component of net sales in the statements of operations and comprehensive loss. The following presents maturities of lease receivables under sales-type leases as of December 31, 2023 (in thousands):

	2023
2024	$	1,299
2025	684
2026	393
2027	47
2028	—
Thereafter	—
Net investment in sales-type leases	$	2,423
Allowances	(522)
Net investment in sales-type leases, net of allowances	$	1,901

For more information on leases, see Note 2, Summary of Significant Accounting Policies.

LEASES

LEASES

The following presents supplemental information related to leases in which the Company is the lessee for the years ended December 31 (in thousands):

	2023		2022
Cash paid for amounts included in lease liabilities
Operating cash flows from operating leases	$	913	$	850
Operating cash flows from finance leases	1,250		1,201
ROU assets obtained in exchange for lease obligations
Operating leases	—		—
Finance leases	200		3,096
Lease Cost
Operating leases	1,041		1,114
Finance leases	1,104		673
Short-term leases	$	77	$	82

For the Company’s operating leases, the weighted average remaining lease term is 1.6 years with a weighted average discount rate of 7.1%. For the Company’s finance leases, the weighted average remaining lease term is 1.6 years with a weighted average discount rate of 6.6%.

The following presents maturities of operating lease liabilities in which the Company is the lessee as of December 31, 2023 (in thousands):

	2023
2024	$	1,055
2025	583
2026	—
2027	—
2028	—
Thereafter	—
Total operating lease payments	1,638
Less imputed interest	(91)
	$	1,547

The following presents maturities of finance lease liabilities in which the Company is the lessee as of December 31, 2023 (in thousands):

	2023
2024	$	784
2025	86
2026	30
2027	—
2028	—
Thereafter	—
Total finance lease payments	900
Less imputed interest	(55)
	$	845

The net investment in sales-type leases, where the Company is the lessor, is a component of other current assets and other non-current assets in the consolidated balance sheets. As of December 31, 2023, the total net investment in these leases is $2.4 million. Lease income is a component of net sales in the statements of operations and comprehensive loss. The following presents maturities of lease receivables under sales-type leases as of December 31, 2023 (in thousands):

	2023
2024	$	1,299
2025	684
2026	393
2027	47
2028	—
Thereafter	—
Net investment in sales-type leases	$	2,423
Allowances	(522)
Net investment in sales-type leases, net of allowances	$	1,901

For more information on leases, see Note 2, Summary of Significant Accounting Policies.

LEASES

LEASES

The following presents supplemental information related to leases in which the Company is the lessee for the years ended December 31 (in thousands):

	2023		2022
Cash paid for amounts included in lease liabilities
Operating cash flows from operating leases	$	913	$	850
Operating cash flows from finance leases	1,250		1,201
ROU assets obtained in exchange for lease obligations
Operating leases	—		—
Finance leases	200		3,096
Lease Cost
Operating leases	1,041		1,114
Finance leases	1,104		673
Short-term leases	$	77	$	82

For the Company’s operating leases, the weighted average remaining lease term is 1.6 years with a weighted average discount rate of 7.1%. For the Company’s finance leases, the weighted average remaining lease term is 1.6 years with a weighted average discount rate of 6.6%.

The following presents maturities of operating lease liabilities in which the Company is the lessee as of December 31, 2023 (in thousands):

	2023
2024	$	1,055
2025	583
2026	—
2027	—
2028	—
Thereafter	—
Total operating lease payments	1,638
Less imputed interest	(91)
	$	1,547

The following presents maturities of finance lease liabilities in which the Company is the lessee as of December 31, 2023 (in thousands):

	2023
2024	$	784
2025	86
2026	30
2027	—
2028	—
Thereafter	—
Total finance lease payments	900
Less imputed interest	(55)
	$	845

The net investment in sales-type leases, where the Company is the lessor, is a component of other current assets and other non-current assets in the consolidated balance sheets. As of December 31, 2023, the total net investment in these leases is $2.4 million. Lease income is a component of net sales in the statements of operations and comprehensive loss. The following presents maturities of lease receivables under sales-type leases as of December 31, 2023 (in thousands):

	2023
2024	$	1,299
2025	684
2026	393
2027	47
2028	—
Thereafter	—
Net investment in sales-type leases	$	2,423
Allowances	(522)
Net investment in sales-type leases, net of allowances	$	1,901

For more information on leases, see Note 2, Summary of Significant Accounting Policies.