Note 8 - Operating Leases

6 Months Ended

Jun. 30, 2022

Notes to Financial Statements

Lessee, Operating Leases [Text Block]

8. OPERATING LEASES

The Company has operating leases predominantly for operating facilities. As of June 30, 2022, the remaining lease terms on our operating leases range from approximately one (1) year to ten (10) years. Lease terms include renewal options reasonably certain of exercise. There is no transfer of title or option to purchase the leased assets upon expiration. There are no residual value guarantees or material restrictive covenants.

The components of lease expense for the current and prior-year comparative periods were as follows:

	Three months ended				Six months ended
	June 30, 2022		June 30, 2021		June 30, 2022		June 30, 2021
Operating lease cost	$	226	$	189	$	458	$	376
Variable lease cost		23		13		47		32
Total lease cost	$	249	$	202	$	505	$	408

Supplemental cash flow information related to leases was as follows:

	Six-month period ended June 30,
	2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	449	$	365

Supplemental consolidated balance sheet information related to leases was as follows:

	Balance sheet classification	June 30, 2022			December 31, 2021
Assets:
Operating lease right-of-use asset	Other noncurrent assets	$	2,131		$	2,581
Liabilities:
Current operating lease liability	Accrued expenses and other current liabilities	$	859		$	867
Operating lease liability, net of current portion	Other noncurrent liabilities		1,312			1,743
Total operating lease liability		$	2,171		$	2,610
Weighted-average remaining lease term (years)			4.3			4.5
Weighted-average discount rate			4.5	%		4.5	%

Future minimum lease payments as of June 30, 2022 are as follows:

Maturity of operating lease liabilities
2022	$	440
2023		871
2024		449
2025		136
2026		137
2027		137
Thereafter		281
Total lease payments		2,451
Less: Imputed interest		(280	)
Present value of remaining lease payments	$	2,171