LEASES

6 Months Ended

Jun. 30, 2024

Leases [Abstract]

LEASES

NOTE 15. LEASES

The following presents supplemental information related to leases in which the Company is the lessee for the three and six months ended June 30, 2024 and 2023 (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Cash paid for amounts included in lease liabilities:
Operating cash flows from operating leases	$	250	$	226	$	500	$	453
Financing cash flows from finance leases	471		462		537		540
ROU assets obtained in exchange for lease obligations:
Operating leases	—		—		—		—
Finance leases	—		200		—		200
Lease Cost:
Operating leases	245		243		490		493
Finance leases	297		270		590		531
Short-term leases	31		19		49		43

For the Company’s operating leases, the weighted average remaining lease term is 1.1 years with a weighted average discount rate of 7.1%. For the Company’s finance leases, the weighted average remaining lease term is 1.1 years with a weighted average discount rate of 7.2%.

The following presents maturities of lease liabilities in which the Company is the lessee as of June 30, 2024 (in thousands):

	Operating		Finance
Remainder of 2024	$	500	$	217
2025	583		86
2026	—		30
2027	—		—
2028	—		—
Thereafter	—		—
Total lease payments	1,083		333
Less imputed interest	(43)		(25)
Total lease liabilities, net	$	1,040	$	308

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 condensed consolidated balance sheets. As of June 30, 2024, the total net investment in these leases was $1.7 million. Lease income is a component of net sales in the condensed consolidated statements of operations and comprehensive loss. The following presents maturities of lease receivables under sales-type leases as of June 30, 2024 (in thousands):

	Sales-Type
Remainder of 2024	$	683
2025	869
2026	529
2027	66
2028	—
Thereafter	—
Net investment in sales-type leases	2,147
Allowances	(481)
Net investment in sales-type leases, net of allowances	$	1,666

For more information on leases, see Note 1, Organization and Nature of Business; Basis of Presentation; Principles of Consolidation; Significant Accounting Policies.

LEASES

NOTE 15. LEASES

The following presents supplemental information related to leases in which the Company is the lessee for the three and six months ended June 30, 2024 and 2023 (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Cash paid for amounts included in lease liabilities:
Operating cash flows from operating leases	$	250	$	226	$	500	$	453
Financing cash flows from finance leases	471		462		537		540
ROU assets obtained in exchange for lease obligations:
Operating leases	—		—		—		—
Finance leases	—		200		—		200
Lease Cost:
Operating leases	245		243		490		493
Finance leases	297		270		590		531
Short-term leases	31		19		49		43

For the Company’s operating leases, the weighted average remaining lease term is 1.1 years with a weighted average discount rate of 7.1%. For the Company’s finance leases, the weighted average remaining lease term is 1.1 years with a weighted average discount rate of 7.2%.

The following presents maturities of lease liabilities in which the Company is the lessee as of June 30, 2024 (in thousands):

	Operating		Finance
Remainder of 2024	$	500	$	217
2025	583		86
2026	—		30
2027	—		—
2028	—		—
Thereafter	—		—
Total lease payments	1,083		333
Less imputed interest	(43)		(25)
Total lease liabilities, net	$	1,040	$	308

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 condensed consolidated balance sheets. As of June 30, 2024, the total net investment in these leases was $1.7 million. Lease income is a component of net sales in the condensed consolidated statements of operations and comprehensive loss. The following presents maturities of lease receivables under sales-type leases as of June 30, 2024 (in thousands):

	Sales-Type
Remainder of 2024	$	683
2025	869
2026	529
2027	66
2028	—
Thereafter	—
Net investment in sales-type leases	2,147
Allowances	(481)
Net investment in sales-type leases, net of allowances	$	1,666

For more information on leases, see Note 1, Organization and Nature of Business; Basis of Presentation; Principles of Consolidation; Significant Accounting Policies.

LEASES

NOTE 15. LEASES

The following presents supplemental information related to leases in which the Company is the lessee for the three and six months ended June 30, 2024 and 2023 (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Cash paid for amounts included in lease liabilities:
Operating cash flows from operating leases	$	250	$	226	$	500	$	453
Financing cash flows from finance leases	471		462		537		540
ROU assets obtained in exchange for lease obligations:
Operating leases	—		—		—		—
Finance leases	—		200		—		200
Lease Cost:
Operating leases	245		243		490		493
Finance leases	297		270		590		531
Short-term leases	31		19		49		43

For the Company’s operating leases, the weighted average remaining lease term is 1.1 years with a weighted average discount rate of 7.1%. For the Company’s finance leases, the weighted average remaining lease term is 1.1 years with a weighted average discount rate of 7.2%.

The following presents maturities of lease liabilities in which the Company is the lessee as of June 30, 2024 (in thousands):

	Operating		Finance
Remainder of 2024	$	500	$	217
2025	583		86
2026	—		30
2027	—		—
2028	—		—
Thereafter	—		—
Total lease payments	1,083		333
Less imputed interest	(43)		(25)
Total lease liabilities, net	$	1,040	$	308

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 condensed consolidated balance sheets. As of June 30, 2024, the total net investment in these leases was $1.7 million. Lease income is a component of net sales in the condensed consolidated statements of operations and comprehensive loss. The following presents maturities of lease receivables under sales-type leases as of June 30, 2024 (in thousands):

	Sales-Type
Remainder of 2024	$	683
2025	869
2026	529
2027	66
2028	—
Thereafter	—
Net investment in sales-type leases	2,147
Allowances	(481)
Net investment in sales-type leases, net of allowances	$	1,666

For more information on leases, see Note 1, Organization and Nature of Business; Basis of Presentation; Principles of Consolidation; Significant Accounting Policies.