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

LEASES (Tables)

3 Months Ended

Mar. 31, 2023

The components of lease expense were as follows:

SCHEDULE OF LEASE EXPENSE

Supplemental balance sheet information related to leases is as follows:

	March 31, 2023			December 31, 2022
	($ in thousands)
Operating leases:
Operating lease ROU assets, net	$	4,465		$	4,921

Current operating lease liabilities	$	2,095		$	2,273
Non-current operating lease liabilities		2,822			3,207
Total operating lease liabilities	$	4,917		$	5,480

Operating leases:
ROU assets	$	5,207		$	8,293
Asset lease expense		(683	)		(3,286	)
Foreign exchange loss		(59	)		(86	)
ROU assets, net	$	4,465		$	4,921

Weighted average remaining lease term (in years):
Operating leases		4.3			5.1
Weighted average discount rate:
Operating leases		10.1	%		7.9	%

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

	2023		2022
	Three Months Ended March 31,
	2023		2022
	($ in thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	907	$	1,212

ROU assets obtained in exchange for lease liabilities:
Operating leases, excluding impairments and terminations	$	287	$	427

Maturities of lease liabilities are as follows:

Operating leases - Years ending December 31,	($ in thousands)
2023 (nine months)	$	2,057
2024		1,661
2025		952
2026		323
2027		229
Thereafter		1,643
Total lease payments		6,865
Less: imputed interest		(1,948	)
Total lease obligations		4,917
Less: current obligations		(2,095	)
Long-term lease obligations	$	2,822