CareCloud, Inc. Annual report pursuant to Section 13 and 15(d)

LEASES (Tables)

12 Months Ended

Dec. 31, 2022

The components of lease expense were as follows:

SCHEDULE OF LEASE EXPENSE

Supplemental balance sheet information related to leases was as follows:

	December 31, 2022			December 31, 2021
	($ in thousands)
Operating leases:
Operating lease ROU assets, net	$	4,921		$	6,940

Current operating lease liabilities	$	2,273		$	3,963
Operating lease liability (current portion)	$	2,273		$	3,963
Non-current operating lease liabilities		3,207			4,545
Operating lease liability		3,207			4,545
Total operating lease liabilities	$	5,480		$	8,508

Operating leases:
ROU assets	$	8,293		$	10,535
Asset lease expense		(3,286	)		(3,574	)
Foreign exchange loss		(86	)		(21	)
ROU assets, net	$	4,921		$	6,940
Operating lease right-of-use assets	$	4,921		$	6,940

Weighted average remaining lease term (in years):
Operating leases		5.1			4.3
Weighted average discount rate:
Operating leases		7.9	%		6.8	%
Weighted average discount rate: Operating leases		7.9	%		6.8	%

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

	2022		2021
	Year Ended December 31,
	2022		2021
	($ in thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	4,743	$	5,351

ROU assets obtained in exchange for lease liabilities:
Operating leases, excluding impairments and terminations	$	1,569	$	2,790

Maturities of lease liabilities are as follows:

Operating leases - Years ending December 31,	($ in thousands)
2023	$	2,613
2024		1,333
2025		821
2026		286
2027		231
Thereafter		1,637
Total lease payments		6,921
Less: imputed interest		(1,441	)
Total lease obligations		5,480
Less: current obligations		(2,273	)
Long-term lease obligations	$	3,207