Annual report [Section 13 and 15(d), not S-K Item 405]

Leases (Tables)

v3.25.1
Leases (Tables)
12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Schedule of Components of Lease Expense

The components of lease expense are as follows:

 

(in thousands)   Year ended
December 31,
2024
    Year ended
December 31,
2023
 
Operating lease expense   $ 691     $ 691  
                 
Finance lease cost                
Amortization of right-to-use assets   $ 10     $ 3  
Interest on lease liabilities   $ 2     $
-
 
Total finance lease cost     12     $ 3  

 

Supplemental cash flow information related to leases are as follows:

 

    Year ended  
(in thousands)   December 31,
2024
    December 31,
2023
 
Cash flow information:            
Cash paid for amounts included in the measurement of lease liabilities:            
Operating cash flow use from operating leases   $          618     $          606  
Operating cash flow use from finance leases   $ 11     $
-
 
Financing cash flow use from finance leases   $ 9     $ 4  
                 
Non-cash activity:                
                 
Right-of-use assets obtained in exchange for lease obligations:                
Operating leases   $
-
    $
-
 
Finance leases   $
-
    $ 30  

 

Weighted average remaining lease terms are as follows at December 31, 2024:

 

Weighted average remaining lease term:      
Operating leases   2.6 years  
Finance leases   2.0 years  
Below is information on the weighted average discount rates used at the time that the leases were evaluated:
Weighted average discount rates:      
Operating leases     4.8 %
Finance leases     6.2 %
Schedule of Maturities of Lease Liabilities

Maturities of lease liabilities are as follows:

 

Year ending December 31,   Operating 
Leases
    Finance 
Leases
 
2025     630       11  
2026     643       11  
2027     380      
-
 
Total lease payments   $ 1,653     $ 22  
Less imputed interest     (100 )     (2 )
Present value of lease liabilities   $ 1,553     $ 20