CareCloud, Inc. Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

9 Months Ended

Sep. 30, 2022

The components of lease expense were as follows:

SCHEDULE OF LEASE EXPENSE

	2022		2021		2022		2021
	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	($ in thousands)
Operating lease cost	$	921	$	1,066	$	2,798	$	3,181
Short-term lease cost		4		22		79		65
Variable lease cost		5		11		24		25
Total-net lease cost	$	930	$	1,099	$	2,901	$	3,271

Supplemental balance sheet information related to leases is as follows:

	September 30, 2022			December 31, 2021
	($ in thousands)
Operating leases:
Operating lease ROU assets, net	$	4,679		$	6,940

Current operating lease liabilities	$	2,554		$	3,963
Non-current operating lease liabilities		2,907			4,545
Total operating lease liabilities	$	5,461		$	8,508

Operating leases:
ROU assets	$	7,242		$	10,535
Asset lease expense		(2,474	)		(3,574	)
Foreign exchange loss		(89	)		(21	)
ROU assets, net	$	4,679		$	6,940
Operating lease right-of-use assets	$	4,679		$	6,940

Weighted average remaining lease term (in years):
Operating leases		4.95			4.26
Weighted average discount rate:
Operating leases		7.02	%		6.76	%
Weighted average discount rate: Operating leases		7.02	%		6.76	%

Supplemental cash flow and other information related to leases is as follows:

	2022		2021		2022		2021
	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	($ in thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	1,228	$	1,316	$	3,598	$	4,048

ROU assets obtained in exchange for lease liabilities:
Operating leases, excluding impairments and terminations	$	71	$	315	$	513	$	2,063

Maturities of lease liabilities are as follows:

Operating leases - Years ending December 31,	($ in thousands)
2022 (three months)	$	1,072
2023		2,187
2024		1,003
2025		525
2026		237
Thereafter		1,756
Total lease payments		6,780
Less: imputed interest		(1,319	)
Total lease obligations		5,461
Less: current obligations		(2,554	)
Long-term lease obligations	$	2,907