LEASES |
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Jun. 30, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Leases | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| LEASES |
7. LEASES
The table below presents the lease-related assets and liabilities recorded in the Condensed Consolidated Balance Sheet:
The weighted average remaining lease term for the Company’s operating leases was 3.9 years as of June 30, 2024 and the weighted average discount rate for those leases was 11.9%. Total operating lease expense from continuing operations under these agreements for both the three months ended June 30, 2024 and 2023 was approximately $0.2 million and for the six months ended June 30, 2024 and 2023 was approximately $0.3 million and $0.4 million, respectively. Total cash paid under these agreements for both the six months ended June 30, 2024 and 2023 was approximately $0.4 million, respectively. The Company’s operating lease expenses are recorded within “Cost of revenue” and “General and administrative expenses.”
The table below reconciles the cash flows to the lease liabilities recorded on the Company’s Condensed Consolidated Balance Sheet as of June 30, 2024:
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