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]  
SUMMARY OF OPERATING LEASE LIABILITIES

The following table provides a summary of the Company’s operating lease liabilities (in thousands):

 

    2024     2023  
    As of December 31,  
    2024     2023  
             
Current operating lease liability   $ 823     $ 998  
Non-current operating lease liability     3,262       4,402  
Total operating lease liability   $ 4,085     $ 5,400  
SCHEDULE OF COMPONENTS OF LEASE COST

The following table provides a summary of the components of lease costs and rent (in thousands):

 

    2024     2023  
    For the year ended December 31,  
    2024     2023  
             
Operating lease cost   $ 1,288     $ 1,389  
Variable lease cost     380       358  
Short-term lease cost     49       63  
Total operating lease costs   $ 1,717     $ 1,810  
SCHEDULE OF MATURITIES OF OPERATING LEASE LIABILITIES

Future minimum lease payments and obligations, which do not include short-term leases, related to the Company’s operating lease liabilities as of December 31, 2024 were as follows (in thousands):

 

Future minimum lease payments and obligations   Operating Leases  
       
2025   $ 853  
2026     791  
2027     807  
2028     823  
2029     859  
Thereafter     834  
Total undiscounted operating lease payments     4,967  
Less: imputed interest     882  
Present value of operating lease liabilities   $ 4,085  
SCHEDULE OF FUTURE CASH RECEIPTS FROM OPERATING SUBLEASE

 

    Operating  
Future cash receipts   Subleases  
       
2025   $ 485  
Total future cash receipts   $ 485