|
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 |
% |
|